08/17/2020
AJ Bell names third party MPS partners
The third-party MPS will sit alongside the existing AJ Bell MPS option and the AJ Bell multi-asset funds.
Legal, Regulation & Compliance
08/17/2020
EBRD and CaixaBank boost SME financing in Morocco
In Morocco, the EBRD was one of the first financial institutions to develop financial and advisory instruments to mitigate the impact of the COVID-19 pandemic on the economy.
08/17/2020
AML, KYC and Sanctions Fines for Global Financial Institutions Reach $5.6 Billion Mid-Year
Repercussions from high profile scandals and compliance failings hit US, Israeli, Nordic and German banks hardest
08/17/2020
‘Interest rates have become less important,’ what SGKB’s CIO wants from the SNB
Thomas Stucki said that extraordinary measures in response to the coronavirus crisis were correct, but that the current situation could not be permanent.
08/17/2020
World's biggest wealth fund's embarrassing recruitment debacle
The government has now acknowledged the time might be ripe to consider some changes to the whole process.
08/16/2020
Crispin Odey readies emergency plan as assault trial looms
It would involve shutting the flagship European fund he manages and returning the money to investors.
08/16/2020
Cum-ex scandal: Six German bankers charged with €160 million fraud
Proceedings against another employee of the bank were dropped for health reasons, the prosecutor confirms.
08/16/2020
Private equity is back — so are its critics
Animal spirits are stirring among the controversial breed
08/16/2020
FCA: Conduct Rules reporting for solo-regulated firms under REP008
The PRA has published a new webpage on the fourth meeting of the PRA and FCA's joint Climate Financial Risk Forum (CFRF) in July 2020, where the CFRF discussed its strategy for its second year of work.
08/14/2020
EU Anti-Tax Avoidance Directive 1 in Luxembourg - Where are we now
Exceeding borrowing costs” correspond to the amount by which the deductible “borrowing costs” of a taxpayer exceed the amount of taxable “interest revenues and other economically equivalent taxable revenues”.
08/14/2020
Global Anti-Money-Laundering Fine Amounts Released
For years the U.S. has led the way in imposing major anti-money laundering (AML) fines, but regulators in Europe have recently started taking a much tougher line.
08/14/2020
New name, new visual identity – A new bank?
CEO Christian Bjørløw tells about how the new name and visual identity were created and how Trusted Novus Bank has handled the transition so far.
08/14/2020
EBA Consultation paper on guidelines on criteria for use of data inputs in ES risk measure under IMA
Feedback is requested by 12 November 2020.
08/14/2020
FCA wants evidence of ‘informed decisions’ in DB advice
Mr Harries said he believed the regulator would also move to focus on charging structures as this will ultimately lead to better outcomes for consumers following on from its contingent charging ban, which comes into force from October.
08/14/2020
'Markets can't price risk properly'
"And with the pandemic, that showed markets had not been pricing risk well at all.”
08/14/2020
European Commission provides notice to stakeholders on EU to UK data transfers post-Brexit Transition Period
The European Commission notes that Article 71(1) of the Withdrawal Agreement seeks to ensure continued personal data protection for Non-UK Data Subjects
08/14/2020
COVID-19 – A New Marshall Plan?
Key messaging from governments has positioned COVID-19 as the greatest challenge that many nations have encountered since the Second World War (even bigger than the great financial crisis of 2008/09).
08/13/2020
Private bank enters voluntary liquidation
Process will go ahead despite ‘intensive negotiations’ taking place with ‘interested parties’
08/13/2020
Covid-19: FCA 'Dear CEO' letter on client money balances
The FCA expects firms to return client money balances which are unlikely to be reinvested in the short term, if this is in the clients' best interests during this period.
08/13/2020
Freshfields lawyer sent list of concerns over her conduct in UBS rape case
UK’s Solicitors Regulation Authority reviewing complaint that Caroline Stroud did not make bank relationship clear