08/11/2020
Liechtenstein’s Union Bank decides to liquidate
Media reports have linked the bank to criminal activity.
Legal, Regulation & Compliance
08/10/2020
Barclays probed by privacy watchdog over reports of spying on staff
The UK’s data and privacy watchdog said a formal probe is ongoing, but could not say when it may conclude.
08/10/2020
HMRC investigating 246 players and 55 agents over tax avoidance with image rights
World class footballers and top agents are being probed by HMRC regarding image rights deals used to avoid tax, and the number being investigated has soared since 2019
08/10/2020
UK financial advice firm fails
Lifeboat service has received ‘around 100 claims for compensation’
08/10/2020
Banks braced as pandemic poses biggest test since financial crisis
Provisions for loan losses are at the highest in a decade as lenders prepare for large-scale company bankruptcies
08/10/2020
Finnish insurer Sampo backs Pension Super Fund
PSF is the brainchild of Edi Truell, the financier who ran Duke Street Capital in the 1990s, founded Pension Corporation and went on to advise Boris Johnson on pensions when he was the mayor of London.
08/10/2020
Euro area bank bailout policies after the global financial crisis sowed seeds of the next crisis
These results have potential implications for the ongoing COVID-19 pandemic as, if the economic situation further deterioriates, banking sector stability is likely to be adversely affected.
08/10/2020
Wolfsberg Group Issues Guidance on Source-of-Wealth, Source-of-Funds Checks
In line with regulatory expectations, FIs should adopt a risk based approach with respect to the amount of information collected, and corroboration required, for SoW/SoF purposes.
08/10/2020
EFAMA calls for urgent PRIIPS review and extension of the UCITS exemption
To avoid further confusion among investors and preserve the worldwide reputation of the UCITS framework
08/10/2020
Carey Olsen supports Tembo Capital on latest mining fund launch
These opportunities may include exploration ventures, near term production ventures, royalties, operating mines, infrastructure of metals and mining projects, and services associated with the metals and mining sector.
08/07/2020
Crypto broker plans IPO and banking licence
Bitcoin Suisse would first have a security token offering, where shares from the company’s own holdings would be brought onto the blockchain.
08/07/2020
Funds industry negotiates the first wave and stands ready to address the next set of challenges - Finance Dublin Yearbook 2020
Many funds, particularly those which are open-ended, were forced to manage liquidity during what was an exceptionally challenging market environment.
08/07/2020
Property fund investors face six-month notice periods
FCA proposals are designed to cure longstanding liquidity mismatch
08/07/2020
Former PrivatBank owners used vast array of companies to steal, launder billions: DOJ
In a civil forfeiture complaint seeking to seize commercial properties in Kentucky and Texas
08/07/2020
BNP Halts New Commodity Trade Finance Deals as It Reviews Unit
Bank is reviewing its involvement in the business in EMEA
08/06/2020
Second law firm eyes legal action against Link amid Woodford
Slater and Gordon says it now believes ‘there’s a case for Hargreaves to answer’
08/06/2020
Merger of wealth tech giants blocked
UK regulator concerned about decreasing competition in the market
08/06/2020
Metro Bank sinks to £241m loss and tells staff to keep working from home
The high street challenger bank is bracing for a slump in house prices and a rise in unemployment
08/06/2020
Bank Rate maintained at 0.1% - August 2020
Monetary Policy Summary and minutes of the Monetary Policy Committee meeting
08/06/2020
Sustainability reporting guidance 2020 to 2021
Guidance for government bodies on sustainability reporting.