11/16/2020
EU regulators seek solution to post-Brexit derivatives rule clash
Overlapping requirements risk leaving banks having to trade on other continents
Legal, Regulation & Compliance
11/16/2020
‘Reckless’ ex-Carillion bosses to face FCA action
The FCA said that it had found that Carillion’s announcements on 7 December 2016, 1 March 2017 and 3 May 2017 did not “accurately or fully disclose the true financial performance” of the firm.
11/16/2020
FCA probes wealth firms’ readiness for negative rates
It asks firms if their existing IT accounting systems and cash management processes accommodate negative interest rates, and whether they already hold negative-interest rate client cash balances in Euros or Swiss francs.
11/16/2020
Financial Regulation Update
The FCA has published an update to its webpage on business interruption (BI) insurance to include the Supreme Court appeal hearing timetable, as well as a hand out summarising the issues, facts, procedural chronology and counsel for the appeal.
11/15/2020
Inclusion - more than a base-line for the global-conscious business
Within the corporate world, a steady focus on diversity and inclusion (D&I), manifested in policy, has become the norm.
11/15/2020
EU Exit/Covid-19: FCA CEO's Mansion House speech – Future challenges and priorities
Towards the end of his speech, Mr Rathi turned to the transformation of the FCA itself, noting that the programme was ambitious, ranging across culture, people and technology.
11/15/2020
European Commission publishes draft new standard contractual clauses for international personal data transfers and Article 28 GDPR clauses between EU controllers and processors
It is to be expected that the New SCCs will be adopted by the European Commission at the beginning of 2021.
11/13/2020
European Data Protection Board publishes recommendations on the supplementary measures to be taken for international personal data transfers from Europe
The Recommendations may ultimately lead to organisations having to locate more European personal data in Europe.
11/13/2020
EU Exit: FCA speech on getting ready for new environment after end of transition period
ESMA has also published its third report on the use supervisory sanctions by NCAs under the Undertakings for Collective Investments in Transferrable Securities (UCITS) Directive.
11/13/2020
The impact of leveraged investors on market liquidity and financial stability
Economic prospects declined and economic risks soared in a matter of weeks.
11/13/2020
Wolters Kluwer FRR Named Technology Partner for Regulatory Compliance in Central Banking Awards
OneSumX for FRR, Wolters Kluwer FRR’s best-in-class integrated regulatory compliance and reporting solution suite
11/13/2020
Irish Fund Management Companies: Time to Get Serious About Substance & Oversight
It is this commitment to the sustainable growth of the industry that requires the stakeholders to continually critically review the model to ensure it exceeds international best practice and maintains Ireland’s position as a Gold Standard jurisdicti
11/13/2020
Spotlight Report – Emerging themes in our funds markets
Aside from COVID-19, Brexit lingers as a significant force impacting the global funds market, particularly the EU.
11/13/2020
ESMA Tells Fund Managers to Improve Readiness for Future Adverse-Shocks
The Report identifies five priority areas for action which would enhance the preparedness of these fund categories.
11/13/2020
UK companies restore dividends after taking furlough cash
Businesses return £400m to government but others keep support money despite making investor payouts
11/12/2020
Fines on Swiss firms abroad will be tax deductible from 2022
Illegal payments such as bribes, kickbacks and commissions paid to individuals will not be tax deductible and treated on par with criminal law.
11/12/2020
Information Notice has brought clarity to industry's questions over investment into cannabis assets by Guernsey structures
The position taken by the States of Guernsey in relation to cannabis investment follows the approval by the Assembly in June 2019 that businesses can grow and process cannabis in Guernsey for medicinal uses.
11/12/2020
Sweden opens door to resumption of bank dividends
Reasonable for profitable banks to pay out, says financial regulator
11/12/2020
DWF launches Ethnic Minority Access Scheme with Aspiring Solicitors
Seema Bains, partner and head of diversity & inclusion leadership group at DWF, said: “We’ve developed the Ethnic Minority Access Scheme with Aspiring Solicitors to help increase the representation of Black, Asian and Minority Ethnic peopl
11/12/2020
Are you preparing your first annual compliance statement?
It is time for trustees to send a first notification to the Competition and Markets Authority that they are complying with its investment consultancy and fiduciary management services order