07/05/2020
CSDR: The Final Chapter?
It’s fantastic to know that the UK government is looking to drive the financial sector, berated by so many outside it’s immediate circle, but crucial to the country as a whole as an independent entity.
Legal, Regulation & Compliance
07/03/2020
Central Beneficial Ownership Register Introduced for ICAVs and Unit Trusts
The Financial Vehicles Regulations make specific provision for what constitutes a "beneficial owner" of a unit trust and prescribe for a threshold level of ownership.
07/03/2020
Covid-19: Protecting Personal Data– The New Normal
At the same time, their smart home devices are capable of recording confidential conversations and their phones are able to track their movements with increasing precision.
07/03/2020
Offshore Business Update - Appleby
The purpose of this report is to help our clients better understand what “business as usual” in our jurisdictions* actually means.
07/03/2020
Four Carey Olsen lawyers among Channel Islands Top 35 Under 35
Four lawyers from across Carey Olsen's Guernsey and Jersey offices are featured in the 2020 eprivateclient Channel Islands Top 35 Under 35.
07/03/2020
Bedell Cristin lawyers named in Channel Islands top young professionals’ list
She is an Advocate of the Royal Court of Guernsey
07/03/2020
Basel Committee finalises AML/CFT guidelines on supervisory cooperation
The revisions set out principles and recommendations for information exchange
07/03/2020
DWP Kicks Off Charge Cap Review
The charge cap is an important regulatory tool for ensuring that member-borne administrative costs are fair and reasonable
07/03/2020
Malta's registrar given new powers to check beneficial ownership
The Registrar can now also demand that a company hands over any document or information to confirm the beneficial ownership report it has submitted.
07/03/2020
FCA policy statement on final regulated fees and levies for 2020/21
The Ministry of Justice (MoJ) has launched a consultation seeking views from the legal sector, business, and the judiciary on which British courts should have the power to depart from retained EU case law following the Transition Period.
07/03/2020
Former Barclays CEO John Varley grilled on negotiations with Qatar in High Court
On the first day of Varley's testimony, Staveley’s attorney pressed him on the blue-chip bank’s negotiations with Qatar
07/03/2020
Brexit and financial services: finally it’s the final countdown
Banking and capital markets firms currently face two challenges.
07/03/2020
UEFA adopts temporary emergency measures for Financial Fair Play
The newly approved temporary rules mainly address overdue payables and the break-even rule.
07/03/2020
UK guidance on cross-border tax reporting published
The information received from these reports will be shared with tax authorities in EU member states so that they can identify any potential tax risks in their jurisdictions.
07/03/2020
EU sues Austria, Belgium, Netherlands over anti-money laundering rules
The 27-nation bloc’s executive cited a lack of action on EU law related to fundamental aspects of the anti-money laundering framework “such as betting and gambling legislation (Austria), mechanisms under which the Financial Intelligence Units
07/03/2020
Portmann channelled €120 million through Pilatus Bank, inquiry hears
Company at the heart of a US investigation on dirty money from Venezuelan politicians had channelled money through Malta-based Pilatus Bank, the Caruana Galizia public inquiry hears
07/02/2020
Jersey advice firm shut up shop
SWM demonstrated a lack of competence by failing to maintain adequate professional indemnity insurance
07/02/2020
Covid-19: FCA further support measures for consumer credit customers
The FCA has also published a Handbook Instrument implementing this guidance
07/02/2020
Ireland and Luxembourg: Extension of Reporting Deadlines for DAC6, FATCA and CRS
Ireland and Luxembourg have both announced a six month deferral of the first reporting date under DAC6, the new EU Mandatory Disclosure Regime for certain cross border transactions which carry defined tax hallmarks.
07/02/2020
Huge Wine Frauds Uncovered in Europe
Authorities in Spain and Italy break open two alleged fake wine conspiracies, Barnaby Eales reports.