10/20/2020
Greece's golden visa scheme comes to near halt
Greece sells five-year residency permits and European Union passports to wealthy foreigners, a scheme criticised for being open to money laundering and criminal activity.
Legal, Regulation & Compliance
10/20/2020
Another Lawsuit Challenges Fund Manager Strategy During COVID-19 Market Crash
Allianz Global Investors is again accused of not following the promised investment strategy for its Structured Alpha Funds.
10/20/2020
What the FCA’s business interruption case means for your business
The test case considered 21 “lead policies” issued by the defendant insurers.
10/19/2020
Bank of England boss: Best to 'act aggressively'
The G20 Debt Service Suspension Initiative has helped 44 countries defer $5bn (£3.8bn) repayments to spend on tackling the coronavirus crisis instead.
10/19/2020
ADGM and Companies House Gibraltar partner to bolster respective registration functions
MoU to facilitate development of ADGM and CHG registration functions
10/19/2020
EU sets sights on money market fund reform
French and Irish watchdogs worried about how close products came to experiencing a liquidity crisis in March
10/18/2020
Covid-19: FCA draft guidance for insurance and premium finance firms
The FCA has however stated that, although the August guidance expires on 31 October 2020,
10/18/2020
EU data protection enforcement highlights cyber focus
Cases concerning personal data breaches made up 77% of that total amount.
10/18/2020
Investors should focus on transparency and evidence in stewardship reporting, says FRC
While the Governance Code sets standards for listed companies, the Stewardship Code says what investors ought to be doing to monitor such companies and to ensure they are complying with those obligations.
10/18/2020
“Magnitsky-style” human rights sanctions now in the UK Overseas Territories
The activities could be carried out by a State or non-State actor.
10/16/2020
Majority Ruling of UK Supreme Court Sheds Light on Questions Concerning Law of Arbitration Agreements
A recent judgment of the UK Supreme Court has fortunately provided some clarity on this issue.
10/16/2020
Billionaires Worth Over $35 Billion Could Be Locked Out Of Europe As Cyprus Finally Suspends ‘Golden Passport’ Schemes
Transparency say 30 individuals with pending criminal charges or convictions, and 40 people they classify as “politically exposed persons” were revealed in the leak.
10/16/2020
FCA Regulation round-up: October 2020
The draft Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (and accompanying draft explanatory memorandum) have been published and will be shortly laid in Parliament.
10/16/2020
BREXIT: your final countdown
EEA nationals who began their residence in the UK before 31 December 2020 and who have successfully applied to the EU Settlement Scheme (“EUSS”) will be permitted to continue residing in the UK on a long term basis.
10/16/2020
Cross-border enforcement of Judgments and Brexit
There are some transitional provisions for court proceedings started before 1 January 2021 by which the above principle will continue to apply as between the UK and the EU.
10/16/2020
German Prosecutors Drop Money Laundering Probe Into Deutsche Bank
Despite closing the case, the Frankfurt Public Prosecutor's Office fined the bank €13.5 million (US$15.9 million) for its slow reporting of suspected instances of money laundering.
10/16/2020
Introducing MiCA: Europe's proposed cryptoasset laws, explained
The Commission’s proposals for a ‘Regulation on Markets in Crypto Assets’ (“MiCA”), when implemented, will transform the legal landscape for cryptoassets, including utility tokens and stablecoins.
10/16/2020
Protection providers should adopt FCA guidance to help clients
The City watchdog's guidance followed the temporary measures that have been in place since May this year.
10/16/2020
Monte Paschi's Cover-Ups Have Damaged Italy
The two executives carried out “ambiguous and incomplete” accounting between 2012 and the first half of 2015, according to the indictment.
10/15/2020
EBA changes software capital rules for banks
The European Banking Authority has set out plans to let banks include software assets in their capital requirement calculations, helping lenders to boost their safety buffers.