09/15/2020
Finma approves registration body
Geneva-based Arif will manage a register of advisers and check that they have the required education and training.
Legal, Regulation & Compliance
09/15/2020
Carey Olsen pair among UK's Top 35 Under 35
Carey Olsen's Nichola Aldridge and Oliver Lindop have been named among the Top 35 Under 35 private client practitioners in the UK by eprivateclient.
09/15/2020
FCA proposes big shake-up of HNW exemption from retail rules
The watchdog said that exemptions of high-net-wealth and sophisticated investors in the financial promotion regime are being abused by unregulated firms.
09/15/2020
PIMFA welcomes FCA call for evidence on how to improve the consumer investment market
PIMFA welcomes many of the proposals outlined in this call for evidence
09/15/2020
Luxembourg financial watchdog sharpens its teeth
Regulator Marco Zwick on efforts to strengthen supervision after years of criticism
09/14/2020
Update on Investigation into LCF – June 2020
Exchange of letters relating to the Independent Investigation into London Capital and Finance plc (LCF).
09/14/2020
Lagarde urges govts to support central bank efforts with fiscal spending
ECB ‘stands ready to adjust all of its instruments’ to steer the 19-nation currency club through the crisis
09/14/2020
European Central Banks Demand Strict Cryptocurrency Regulations
Stablecoins, a type of cryptocurrency backed by traditional assets, have become a front burner topic since last year by the emergence of cryptocurrencies and as Facebook introduced its Libra coin.
09/14/2020
The Storm before the Calm or the Calm before the Storm?
Analysis of market positioning suggests that traders do not have significant sterling shorts yet.
09/14/2020
Cyprus-Russia tax deal good for business
The agreement was signed after a high-level intervention from Russian Foreign Minister Sergei Lavrov’s during his visit to Nicosia.
09/14/2020
FCA Dropped Half of Its Criminal Money Laundering Cases in 2020: FT
The authority is now pursuing only one single-track criminal investigation into money laundering and six dual-track cases, which could end with only civil outcomes
09/14/2020
Malta's MPM Capital handed record fine of €1.18m
The Financial Intelligence Analysis Unit (FIAU) in Malta has fined the now-closed MPM Capital financial services firm a record €1.18m for operating as an unlicenced payment services provider.
09/13/2020
FCA September Policy Development Update
The Committee Chair urges the regulators to extend the deadline for responding to the joint consultation on revising the complaints scheme, which handles complaints made against the BoE, PRA and FCA.
09/13/2020
RBS altered customers’ files ahead of independent review into swaps mis-selling, documents show
Bank routinely took out millions of credit in its customers’ names without telling them, to cover losses on products the bank had recommended, yet regulators failed to take action
09/11/2020
Deutsche Bank will Pay $583K to Settle Violation of Sanctions
On the same day that the settlement was announced, Bloomberg reported that the bank had retained Robert Kimmitt, a long time friend of U.S. Attorney General William Barr, to sit on its supervisory board.
09/11/2020
FCA Annual Report and Accounts 2019/20
Alongside financial data, the report also sets out cross-sector and sector priorities, and includes a section on the FCA's response to Covid-19.
09/11/2020
Criminals increasingly targeting EU green funds, says anti-fraud agency
The agency's Director-General, Ville Itälä, also flagged that it had "observed a growing trend building up over the last few years in fraud involving EU funds for environmental and sustainable projects.
09/11/2020
Regulator: Reports of unauthorised firms at record high
If serious misconduct is not addressed it causes loss of trust in our markets
09/11/2020
EU banking watchdog calls for single set of anti-money laundering rules
Such binding regulation would then mean that cooperation and information exchange across the EU single market “is no longer the exception, but the rule”, the EBA said.
09/11/2020
New Law in a new era: the IFC perspective
Above 50 the emphasis is on the quality of expertise and the individual strength and character of the lawyer.