06/09/2020
Guernsey financial advisors fined for making profit from elderly clients losses
The Commission has said that Mr Penney engaged in very deliberate improper conduct, profiting to the sum of over £100,000.
Legal, Regulation & Compliance
06/09/2020
Boosting payroll professionalism
As a new body launches for the payroll industry, Chiene + Tait’s Neil Cameron highlights the increasing importance of standards in a profession at the centre of implementing government policy during the Covid-19 crisis
06/09/2020
Finma adds 18 firms to warning list including WMs
This includes the latest companies to submit insufficient or falsified information to the regulator.
06/09/2020
FCA investigates Quilter Lighthouse over DB pension transfers
Lighthouse has had around 40 complaints filed against it, the FCA said.
06/09/2020
No fault divorce will ease lockdown marriage nightmares - comment from Royds Withy King
The introduction of no-fault divorce will ease tensions for couples to separate without having to point the finger of blame and the passions that can arise as a result.
06/09/2020
Openwork calls for 'value of advice' campaign
The survey of 115 advisers conducted in March found a notable demand for the industry to do more to promote the value of advice and educate potential clients, with more than half agreeing trade bodies should invest more in promoting its benefits.
06/09/2020
Barclays ‘misled’ the market over Qatar deal, court told
Amanda Staveley’s PCP Capital is suing bank for alleged deceit regarding 2008 fundraising
06/09/2020
Revealed: Nearly 400,000 British companies evade anti-money laundering checks
Most forms of British corporate entities have to name a “person of significant control” – a beneficiary with a stake of 25 per cent or more.
06/09/2020
Best Lawyers recognition for seven Carey Olsen partners
Among the seven Carey Olsen lawyers recognised, Jersey partner John Kelleher was named 'Lawyer of the Year for Litigation in Jersey' – an additional recognition for those with the highest overall peer feedback for a specific practice area
06/09/2020
Malta to delay launch of EU anti-corruption prosecutor
EU states are required to nominate at least three candidates for the post of European prosecutor to liaise with the Luxembourg-hub.
06/08/2020
Frenkel Topping launches joint venture with law firm
The joint venture will be named ExpressFT Limited and provide post-settlement advice to clients of the law firm who have suffered from personal injury and clinical negligence.
06/07/2020
Amanda Staveley's battle with Barclays nears judgment day
Over four years over filing charges alleging deceit by the bank, the prominent financier is eventually set to get her day in court
06/07/2020
Intu puts KPMG on stand-by for administration if bank talks fail
Contingency plans drawn up by struggling shopping centre owner ahead of critical talks with lenders would see KPMG handle administration
06/07/2020
FCA package of measures regarding DB pension transfers
This Policy Statement forms part of a wider package to improve the suitability of pension transfer advice.
06/07/2020
Vatican arrests London-based broker
Gianluigi Torzi was a middleman in the acquisition of a luxury property in Chelsea
06/05/2020
Regulator working on how to avoid ‘lumpy bills’ for firms in future
Wealth managers and financial advisers had responded well during the crisis and firms were adapting well to the new normal, she said. But she cautioned the regulator could not “overlook financial resilience”.
06/05/2020
Covid-19: FCA updated guidance on branch access for essential services
The FCA recommends that firms continue to balance the needs of their customers with the safety and welfare of their staff, and urges firms to consider the needs of their most vulnerable customers.
06/05/2020
Withers partners with BIICL on new research project for sovereign wealth funds
The research team will work until December 2020 and the results of the project will be included in a report and presented at a final conference hosted by BIICL and Withers in early 2021.
06/05/2020
New game rules for non-resident companies
Today it is difficult to imagine the process of incorporating a legal entity even in offshore zones without identifying the ultimate beneficiary and the source of its funds.
06/05/2020
European bank ramps up stimulus package
ECB President Christine Lagarde scotched speculation that the bank could follow the US Federal Reserve in buying sub-investment grade bonds, saying that option was not discussed by policymakers.