11/03/2020
Maltese wealth firm appeals €1.2m fine
Company says that it is ‘undoubtedly disproportionate to the alleged breaches’
Legal, Regulation & Compliance
11/03/2020
Boris Johnson announces fresh help for self-employed during second lockdown
The PM says support for the self-employed will be boosted ahead of the new month-long lockdown, to reflect the furlough extension.
11/03/2020
UK post-Brexit reform: Financial Services Bill introduced
The FS Bill proposes certain measures, a number of which are aimed at avoiding functional issues with rules introduced during the UK’s membership of the EU
11/03/2020
Financial Regulation Update
The BCBS expects full, timely and consistent implementation of all Basel III standards based on the revised timeline endorsed by the BCBS's oversight body, the Group of Governors and Heads of Supervision (GHOS), in March 2020.
11/03/2020
FCA announces changes to open banking identification requirements
The FCA has announced changes to limit the risk of disruption to open banking services after Brexit.
11/03/2020
German supervisory regime lambasted over Wirecard collapse
Wirecard was a rising blue chip star before its collapse following the discovery of a gaping €1.9 billion hole in its balance sheet and regulatory bodies appeared at times to be more interested in defending the firm against a rising tide of allegatio
11/02/2020
Lombard Bank fined €340,000 by FIAU over money laundering shortcomings
FIAU finds low level of risk assessment and enhanced due diligence for PEP and voluminous transactions at Lombard Bank
11/02/2020
Swiss authority approves Russian bank’s application to introduce a crypto-money deposit service.
Custody of crypto money will allow citizens to buy or sell their digital assets through Gazprombank.
11/01/2020
French succession planning
The applicable governing law applies only for succession purposes and does not affect how an estate is taxed
11/01/2020
Irish Finance Bill 2020-Key Developments for Irish and International Business
The Irish Finance Bill 2020 has now been published and contains the legislation to implement the Irish Budget measures of 13 October 2020 and also certain new measures.
11/01/2020
Financial Regulation Update
The Instrument relates specifically to existing intragroup exemptions from margin between UK and third country group entities.
10/30/2020
ECB looking increasingly maxed out when it comes to “traditional” monetary policy
The ECB is looking increasingly maxed out when it comes to “traditional” monetary policy.
10/30/2020
HMRC sends 14,000 ‘nudge’ letters over CGT payments
As Aegon unveils capital gains tax calculator for advisers using its retirement choices platform
10/30/2020
Calls to sack Malta financial regulator CEO
Over all-expenses paid holiday with a suspect investigated for murder of investigative journalist
10/30/2020
FCA portfolio letter to mortgage intermediaries, including Covid-19 related matters
The FCA expects relevant firms to take notice of the areas of concern set out in the letter, and to take action where appropriate.
10/30/2020
Vatican Investigators Focus on Longtime Investment Manager
In a report published Oct. 23, L’Espresso said it had obtained a letter sent from the Vatican to Switzerland highlighting alleged activities of Enrico Crasso, an Italian-born Swiss citizen.
10/30/2020
Brexit: Immigration update for EU nationals
In order to safeguard the rights of EU citizens after Brexit, the UK government introduced the EUSS.
10/30/2020
Netherlands: Supreme Court rules on WHT refund regime for nonresident FIIs
KA Deka applied for, but was denied, a refund of the withholding tax because it was unable to meet the FII shareholder and distribution requirements, including providing the identity of shareholders to the Dutch tax authorities.
10/30/2020
Dutch Police Seize $33 Million in Bitcoin from Couple Accused of Money Laundering
The man and woman were residents of North Holland’s Hilversum and the couple will face two and a half years in prison for their crimes.
10/30/2020
Walkers London team advise LetterOne
Turkcell is a leading integrated telecoms and technology company and is one of Turkey's most recognisable brands.