07/13/2020
Kobre & Kim, Robin Rathmell Receive Chambers Recognition for Financial Crime Involving HNWI’s
Of the firm’s services, one commentator told Chambers: “I have never seen such high-level work, strategic thinking and speed in a law firm.”
Legal, Regulation & Compliance
07/13/2020
HK and UK-based boutique targets international clients
It has taken over Strabens Hall’s business in the SAR and works closely with the firm in the UK.
07/13/2020
Monaco Yacht Show has been cancelled
30th Anniversary of Monaco Yacht Show now confirmed for September 2021.
07/13/2020
Jersey to tap staycation seekers as island re-opens borders
Now more than ever, we believe that visitors will value our pristine beaches, uninterrupted coastal paths, unique hospitality and big spirit.
07/13/2020
£1.5m legal bill forces rethink over McMafia wealth orders
The orders were the key measure in the Criminal Finances Act
07/13/2020
HMRC cracks down on furlough fraud with first arrest
The vast majority of employers will have used the CJRS responsibly, but we will not hesitate to act on reports of abuse of the scheme.
07/13/2020
The future of operational resilience in financial services
The Discussion Paper referred to operational resilience as the ability of firms and the financial sector to prevent, adapt, respond to, recover, and learn from operational disruptions, and the Consultation Papers have kept that definition.
07/10/2020
HMRC reports £31bn in unpaid tax
It blames evaders, but businesses and individuals responsible for most of the missing cash
07/10/2020
Ireland introduces central beneficial ownership register for some investment funds
The regulations for funds follow the introduction of a Central Register of Beneficial Ownership (CRBO) for companies last year, with this register overseen by the Companies Registration Office.
07/10/2020
Basel Committee publishes final revisions to the credit valuation adjustment risk framework
Committee members reaffirmed their expectation of full, timely and consistent implementation of all elements of these reforms and the Committee will continue to closely monitor their implementation.
07/10/2020
FSB and Basel Committee set out supervisory recommendations for benchmark transition
The report includes insights on remaining challenges to transition based on surveys undertaken by the FSB, the BCBS and the International Association of Insurance Supervisors (IAIS).
07/10/2020
Covid-19: FCA finalised guidance for payment and e-money firms on safeguarding customers' funds
The FCA hopes to conduct a full consultation later in 2020/21 on changes to its approach document, which is likely to propose incorporating this additional guidance.
07/10/2020
GUERNSEY: March Quarter 2020 Investment Statistics
Over the past year, total net asset values have increased by £16.4 billion (7.6%).
07/10/2020
Morning Coffee: Credit Suisse might cut two whole divisions. The most horrifying banking roadshow ever
Conversely, creating an even stronger fortress Switzerland would also send a message about strategic and geopolitical priorities.
07/10/2020
The Offshore Litigator's Perspective
That is, at least until enabling legislation is passed to rectify the position. We also analyse the latest guidance on recoverability of overseas lawyers' costs, including a determination that the fees of in-house counsel can be recovered.
07/10/2020
Deloitte faces record £15m fine for Autonomy audit failings
Today’s announcement of “serious audit failings” by Deloitte in its work for Autonomy caps a dramatic week for accountancy firms and those calling for radical change in UK auditor oversight.
07/10/2020
Advisers warned not to put SMCR on back-burner
"Above all else, keeping to the original deadline will give you some small peace of mind that your responsibilities in this area have been met.
07/09/2020
Dutch court to question ING and ex-CEO Hamers in money laundering case
But a group of disgruntled investors felt justice had not been served and the court in The Hague had said it would take their demands into consideration.
07/09/2020
3 Key Lessons From The FATF’s Report On Its Virtual Asset Review
According to the FATF’s report, 32 jurisdictions that it surveyed have imposed anti-money laundering and countering the financing of terrorism regulation on the virtual asset sector.
07/09/2020
FCA statement on EIOPA guidelines on outsourcing to cloud service providers
We will keep this guidance under review and, where appropriate, consult to update this to ensure it remains consistent with relevant international standards.