10/15/2020
FSB updates on work to address market fragmentation
The report was delivered to G20 Finance Ministers and Central Bank Governors ahead of their meeting today.
Legal, Regulation & Compliance
10/15/2020
FCA fines hedge fund £900,000 for not disclosing short selling
The Short Selling Regulation 2012 (SSR) sets out thresholds for when a firm is required to notify the FCA and disclose to the public details of net short positions held.
10/15/2020
KPMG launches legal department transformation offering
Global Legal Operations Transformation Services supports GCs to adapt to a new reality.
10/15/2020
Common myths surrounding financial services regulation in early stage investing
This is a bit like saying, ‘I don’t have a license to drive, so the highway code doesn’t apply to me,’ and yet it is a real misconception in the market.
10/15/2020
FCA fines hedge fund £900,000 for not disclosing short selling
Asia Research and Capital Management failed to make required notifications, said regulator
10/15/2020
Ex-Monte Paschi Chairman, CEO Convicted of False Accounting
The two executives made an “ambiguous and incomplete” accounting of the derivatives transactions between 2012 and the first half of 2015, according to the indictment request submitted by prosecutors.
10/14/2020
Cyprus hits pause on citizenship-by-investment programme
After the EU country came under fire for reportedly selling passports to criminals
10/14/2020
Deutsche Bank Fined $16 Million by German Prosecutors in Danske Probe
Deutsche Bank accepts $16 million fine to end Frankfurt probe
10/14/2020
FIMBank incorporates AML monitoring tech from Fiserv
These solutions utilise sophisticated techniques such as behavioral analytics to detect suspicious transactions, leading to more accurate financial crime risk management and fewer false positives.
10/14/2020
Future Market Dynamics Part 2 - Big Tech and data disruption
The increasing importance of technological change creates new challenges for regulation.
10/14/2020
Carey Olsen named best offshore law firm at WealthBriefing European Awards
Carey Olsen has been crowned Best Offshore Law Firm at the prestigious WealthBriefing European Awards 2020.
10/14/2020
Druces crowned International Legal & Fiduciary Team at the WealthBriefing European Awards 2020
These awards recognise the very best operators in the private client industry, with ‘independence’, ‘integrity’ and ‘genuine insight’ the watchwords of the judging process – such that the awards truly reflect exce
10/14/2020
CISI names financial planning award winners
Financial planning firm Boosst Financial, based near Milton Keynes, won the accredited financial planning firm of the year award.
10/14/2020
Switzerland improves anti-bribery record
Switzerland is one of the few countries to actively enforce efforts to combat bribery of foreign officials, according to the latest international comparison by Transparency International. But the NGO warns that the Alpine country still lacks strong whistl
10/13/2020
FCA complaints scheme changes ‘unfair, immoral and illegal’
As trio of UK regulators seek to cap redress for financial loss at £10,000
10/13/2020
FCA bans IFA directors who provided false and misleading SIPP declarations
Vanguard Wealth Management Limited has no connection to the Vanguard Group.
10/13/2020
Banks call back stayaway staff abroad amid tax warning
Some banks have summoned their folks back to the UK, even when they don’t have to come back into the workplace.
10/13/2020
KPMG was auditor to Wirecard’s mystery Mauritian counterparty
Accountancy firm had criticised EY for the way it handled fraud allegations
10/13/2020
FSB says emerging economies should rewrite financial rules to rein in Big Tech
While the expansion of Big tech companies like Facebook, Google and Amazon has some benefits, their activity also gives rise to operational and consumer protection risks and concerns about market dominance, states the FSB.
10/13/2020
Use of Jersey and Guernsey Structures by US Managers Targeting European Capital
In the current politically driven regulatory climate, managers/promoters in the major US fund centres are increasingly looking for alternative ways to structure investment vehicles suitable for and acceptable to their European domiciled investor base.