12/29/2020
EIS promoter enters default
A declaration of default means the FSCS is satisfied the firm is unable to meet the eligible claims made against it.
Legal, Regulation & Compliance
12/28/2020
UK and EU strike an agreement on their future relationship
Although procedures will be put under unprecedented time pressures, our expectation is that the agreement should be able to be ratified by both the EU and UK sides as required to come into force in time for the deadline.
12/28/2020
How will Brexit impact sanctions and money laundering rules in the UK from 2021?
This updated sanction list will comprise of the designations which the UK has chosen to carry over from the EU regimes, as well as those that the UK is obliged to implement under UN regimes.
12/28/2020
Large asset managers boost staffing in EU by 38% since 2015
Rise in headcount has been driven by market expansion, Brexit and greater regulation
12/28/2020
France and the Netherlands demand that the EU regulate ESG criteria that add transparency to the market – CVBJ
“During this year we have seen in Europe that the most important months of flows in ASG shares have taken place and 79% of these volumes came from European investors”, he highlights.
12/28/2020
What Does the Brexit Deal Mean for Financial Services?
London’s financial markets prospered in the last four decades as the U.K. capital became the pre-eminent EU hub for lending, trading and investing.
12/28/2020
Skeoch to lead review into banking regulations
Mr Skeoch’s review will focus specifically on issues such as the separation of retail and investment banking operations and the use of riskier financial products, says the Mail on Sunday.
12/28/2020
Global demand for second passports "skyrockets" amid pandemic
Many passports that were previously strong have also fallen from grace, due to their leaders' management of the coronavirus pandemic.
12/28/2020
Jersey, Guernsey and EU all approve Brexit deal
The deal sets-out the framework for trade, when the UK leaves the EU single market and customs union on 31st December.
12/27/2020
Draghi’s Capitalist Model That Recast Italy Is Running Aground
Almost three decades later, and a year since he left as European Central Bank president, what became one of the region’s biggest privatization programs is now in reverse.
12/24/2020
UK tax adviser jailed after ‘guilty’ fraud plea
He conned a client out of more than £45,000
12/24/2020
Irish Government Consultation on the New EU Interest Limitation Rule
The consultation represents an opportunity for business to raise any issues with Irish Revenue and the Department of Finance.
12/24/2020
FCA stays controversial changes to regulatory compensation
The regulatory complaints scheme allows consumers and firms to complain about the way regulators have acted, but the payments are often small.
12/23/2020
Shepherd and Wedderburn banking and finance team reports strong year
In the year to 31 October 2020, the team advised clients, including banks, funds, financial institutions, alternative lenders, public bodies, corporate borrowers and sponsors, on deals with a total value of more than £40 billion.
12/23/2020
UK debt pile reaches £2.1tn after record November borrowing
The Office for National Statistics said last month’s borrowing soared to £31.6 billion.
12/23/2020
UBS Board Gauges Fallout of ING Laundering Probe on New CEO
Board members have gone as far as informally discussing who could take on the CEO role if the situation with Hamers became untenable.
12/23/2020
Industry welcomes memberships update to FCA register
CEO of the CISI, Simon Culhane, said: “This is a very positive step for consumers who can now easily see and choose a chartered professional to provide them with financial advice.
12/23/2020
FCA slammed over regulatory failings at collapsed minibond firm
They are expected to receive only 25% of their money back from administrators.
12/23/2020
Italian police accuse cryptocurrency exchange boss of huge fraud
For the first time in Italy and in Europe, we have documented fraudulent and rapacious conduct to the detriment of investors carried out entirely on IT platforms and via the use of virtual currencies.
12/23/2020
MPs probe NS&I after string of complaints
Its premium bonds prize fund rate was reduced from 1.4 per cent to 1 per cent.