11/18/2020
BearingPoint unveils 'RegTech Factory'
The UK banking industry is very complex and diverse, with 58,000 firms impacted by financial regulations
Legal, Regulation & Compliance
11/18/2020
FCA consults on new benchmarks powers
The exercise of these powers would be subject to a decision by IBA to cease publication of LIBOR as the conclusion of its consultation.
11/18/2020
Ireland Update: Winds of Change for Whistleblowing
The definition of relevant wrongdoings will be broadened to include breaches of financial services regulations
11/18/2020
FCA register set for 62-hour blackout
Under the Senior Managers and Certification Regime firms are required to submit data to be published as part of a directory of certified and assessed persons on the register.
11/18/2020
Belgium’s biggest banks propose system to share suspected money laundering information
The proposal was made at a Belgian parliamentary hearing held in response to the FinCEN Files investigation.
11/18/2020
Implementation of anti-corruption recommendations ‘all the more pressing’ (updated)
Of the 16 recommendations made by Greco in 2016 to Cyprus, seven have been fully implemented, six remain partly implemented and three have not been implemented, according to the compliance report.
11/18/2020
Carey Olsen named best Guernsey law firm by Who's Who Legal
Published by Law Business Research, Who's Who Legal has been identifying the foremost legal practitioners in multiple areas of business law since 1996.
11/18/2020
Financial Regulation Update
The FCA has also published an overview document on the Benchmarks Regulation (BMR) and proposed amendments under the Financial Services Bill.
11/17/2020
German central bank says economic recovery interrupted by pandemic resurgence
The German government is set to spend €10bn (£9bn, $12bn) to compensate businesses that have to shut this month, covering up to 75% of their normal November revenue based on 2019.
11/17/2020
HMRC criminal actions against rich individuals jump 40% in 2019/20
The role of the unit is to use criminal and civil powers to investigate suspicious or serious non-compliance by companies and the wealthiest taxpayers.
11/17/2020
Joint statement on the implementation of prudential reforms in the Financial Services Bill
Joint statement from HM Treasury, the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) on the implementation of prudential reforms contained in the Financial Services Bill.
11/17/2020
Advisers urged to shake up pricing models to shore up future
Advisers need to start engaging those younger clients now.
11/17/2020
Devilish detail in UK Settled Scheme for European HNWs
Submitting an application by the 30 June 2021 deadline may not be enough, law firm warns
11/16/2020
Carried interest is pure fiscal ‘cakeism’
If buyout groups want their profits taxed as capital gains, they should put capital at risk
11/16/2020
Coronavirus UK news – Boris Johnson starts self-isolation as new ‘mega labs’ could see 1 million tests a day
New lockdown has started and due to last for at least a month
11/16/2020
Working from home could lead to more prejudice, report warns
The study, conducted by polling company Survation for the Woolf Institute, which researches interfaith relations, surveyed 11,701 people.
11/16/2020
Call for three-year ban on EY bidding on public contracts
Anti-corruption group claims ‘recurring professional misconduct’ should preclude auditor from future business
11/16/2020
BOE: Banks Don't Get Protection From Digital Currencies
Andrew Bailey, governor of the BoE, said over the summer that the BoE is closely examining how the idea of a digital currency would work. He said it has "huge implications" on payments as well as the general way society would operate.
11/16/2020
Ogier in Guernsey advises Burford Capital on its dual New York Stock Exchange and London Stock Exchange listing
Burford is the leader in its field and we congratulate them on this success.
11/16/2020
EU regulators seek solution to post-Brexit derivatives rule clash
Overlapping requirements risk leaving banks having to trade on other continents