07/20/2020
MALTA: 10,000 companies taken off registry
The idea is that all directors and shareholders of businesses will now be screened before being allowed to operate in Malta.
Legal, Regulation & Compliance
07/20/2020
UK Trust Register - final rules published
These regulations clarify some of the uncertainties raised by the previous draft regulations and accompanying consultation document which were issued in January this year.
07/20/2020
Switzerland and Cyprus sign protocol of amendment to their double taxation agreement
It still has to be approved by the legislator in both countries before it can come into force.
07/20/2020
U.K. Freezes $6 Million London Home Tied to Petrobras Scandal
The prosecutors have been seeking to trace funds from Swiss bank accounts held by a series of offshore companies, the judge said.
07/20/2020
Review launched to boost UK Fintech sector
A review into the UK’s financial technology industry has been launched today to identify opportunities to support further growth in the sector, The Economic Secretary to the Treasury, John Glen, has announced.
07/20/2020
Mattioli Woods helps clients recoup £10m via FSCS
Mattioli Woods was appointed to administer the various Sipp schemes of Stadia in February 2016, working in conjunction with the Financial Conduct Authority (FCA).
07/20/2020
Proposals to strengthen protections around promotion of financial products and cryptoassets published
Consumers of financial products and cryptoassets are set to get better protections against misleading and inadequate promotions in proposals published today by City Minister John Glen.
07/19/2020
HMT consultation on implementation of CRD V
The Directive must be transposed into national law by 28 December 2020.
07/19/2020
FCA seeks views on extending the implementation deadlines for the Certification Regime and Conduct Rules
This delay will give firms, who have been significantly affected by the coronavirus pandemic (Covid-19), time to make the changes they need.
07/19/2020
Covid-19: FCA CP - Extending the implementation deadlines for the Certification Regime and Conduct Rules
The FCA notes that where firms are able to certify staff and submit information about Directory Persons earlier than March 2021 they should do so.
07/19/2020
FCA confirms MoUs with ESMA and EU securities regulators
The FCA, ESMA, and EU national securities regulators, confirm that these MoUs remain relevant and appropriate to ensure continued good cooperation and exchange of information.
07/17/2020
Ogier's Private Wealth team "leading players in the Channel Islands"
Global Service Line Head of Private Wealth James Campbell, who advises individual and institutional clients on a wide range of trust matters, is "very pragmatic, sensible and a nice guy to deal with".
07/17/2020
Carey Olsen's Elaine Gray named Guernsey Chamber of Commerce's first ever female president
Elaine, who is partner and head of the Carey Olsen Guernsey dispute resolution and litigation team, has served as vice president of the Guernsey Chamber of Commerce for the past year.
07/17/2020
ESMA reports on MiFID/MiFIR transparency regime
The proposals put forward in both reports aim to simplify the current complex transparency regime while trying to improve the transparency available and are taking into account the feedback received from market participants through consultations.
07/17/2020
UBS will no longer be able to contest client data sent to France tax authorities: Swiss court
The bank appealed against the decision, which was rejected by the Federal Administrative Court earlier this month.
07/17/2020
Covid-19: FCA and City Corporation 'digital sandbox' for innovative firms
Building on our approach to innovation, we are collaborating with The City of London Corporation to pilot a ‘digital sandbox’.
07/17/2020
FCA provides guidance to firms on maintaining access to cash for customers
The guidance sets out the FCA’s expectation that firms should carefully consider the impact of a planned closure or conversion on their customers’ everyday banking and cash access needs
07/17/2020
“NHR” under pressure in France and Portugal
Other Tax Authorities in the European Union are concerned by this situation which they consider to be the subject of aggressive tax competition on the part of Portugal.
07/17/2020
Romania, Ireland fined by EU top court over anti-money laundering rules
Those rules reinforced surveillance requirements for banks, lawyers and accountants
07/17/2020
Latvia's financial watchdog fines Signet Bank nearly a million euros
The Board of the Financial and Capital Market Commission (FKTK) on July 14 2020 decided to apply a fine of EUR 906,610 euros to Signet Bank for breaches of the anti-money laundering