10/27/2020
Financial Regulation Update
Dual-regulated firms must submit their Directory Person data via 'Connect' by no later than 13 November 2020. The FCA will begin to publish this data on the FS Register from 23 November 2020.
Legal, Regulation & Compliance
10/26/2020
German KapMuG Procedure Extended for Three More Years.
Most recently, on September 18, 2020, the German federal parliament, or Bundestag, extended KapMuG for another three years.
10/26/2020
FCA censures Aviva for listing and transparency rules breach
Aviva made the Announcement when it had, in fact, formed no intention to cancel the preference shares in question.
10/26/2020
PIMFA calls for the approval of unregulated financial promotions to be a regulated activity
By making the approval of financial promotions a regulated activity, the Government would be empowering the Regulator and enabling it to take enforcement action on firms that approved unsuitable investments without the necessary expertise or due diligence
10/26/2020
UBS to Boost Fixed Pay, Cut Bonuses in Compensation Revamp
At the same time, retaining talent with the promise of large bonuses is getting harder as the Covid-19 pandemic puts a spotlight again on banks’ variable compensation.
10/26/2020
DeVere Group granted insurance licence by Guernsey regulator
This represents a further positive development for deVere, which continually seeks to grow and adapt in order to meet evolving market conditions.
10/26/2020
High-flying City figures to be exempt from quarantine rules
It comes as ministers are drawing up plans to overhaul quarantine rules over fears the current guidelines are not being followed.
10/25/2020
Public consultation on the review of the AIFMD is published
The Consultation marks the Commission’s first deep engagement with the public on the road to what could end up being a significant reform and it brings up again some of the issues that vexed engagement during the introduction of the AIFMD.
10/25/2020
Leading firm for 25 areas across UK legal directories
This recognition – thanks largely to the time, effort and energy expended by our clients and contacts in giving their feedback – demonstrates our ability as a firm to guide businesses, high-net-worth individuals and their families and philanth
10/25/2020
We're going to court, say lawyers in Neil Woodford payout fight: Law firm on track for class action by end of year
Manager Neil Woodford was subsequently sacked by Link, the fund broken up and a majority of the assets disposed of with money being returned to investors.
10/25/2020
Financial Regulation Update
The rule on intra-group switching comes into force immediately.
10/23/2020
Focus on the future of banking supervision in a changing world
International banking supervisory community meets virtually
10/23/2020
FCA and PRA fine Goldman Sachs International £96.6 million for risk management failures in connection with 1MDB
The 1MDB transactions involved clients and counterparties in jurisdictions with higher financial crime risk.
10/23/2020
Covid-19: FCA highlights support for consumers struggling with payments
Consumers can apply for a payment holiday or partial payment holiday until 31 October 2020.
10/23/2020
Luxembourg: Draft 2021 budget law presented to Chamber of Deputies
The new legal framework would omit some of the conditions required by the 2014 circular
10/23/2020
SFO publishes new ‘comprehensive guidance’ on Deferred Prosecution Agreements
DPAs allow a prosecution to be “suspended for a defined period” provided the organization meets certain conditions.
10/23/2020
Andersen Global Signs Collaboration Agreement with Belarus’ Largest Law Firm
For over 20 years, our firm has built a respectable reputation through our commitment to stewardship and independence
10/22/2020
FCA urges struggling borrowers to seek debt advice
But as loan repayment holidays come to an end and job protection schemes fade away to be replaced by less generous measures, those without their own financial defences are at risk of experiencing severe financial damage.
10/22/2020
International Ponzi fraudster jailed over £20m investment scam
The ‘extremely manipulative and dishonest man’ conned victims to ‘fund his own extravagant lifestyle’
10/22/2020
FINMA decision in BSI legacy case
This decision follows a ruling by the Federal Administrative Court in December 2019, which had confirmed FINMA’s assessment of the case but had remanded the aspect of the disgorgement amount to FINMA.