04/19/2020
Pensions developments tracker
You can access the insights, guidance and other documents that are named in orange by clicking on them.
Legal, Regulation & Compliance
04/19/2020
Competition Law Enforcement in a Time of Crisis
Guidance from the Commission: Assessing competition law issues relating to business cooperation in response to the COVID-19 outbreak
04/19/2020
FCA’s expectations on financial resilience for FCA solo-regulated firms – statement update
Capital and liquidity buffers are there to be used in times of stress. Firms that have been set buffers can use them to support the continuation of the firm’s activities.
04/19/2020
ESMA and MAS sign MoU on financial benchmarks
The signing of the MoU follows the European Commission’s equivalence decision recognising Singapore’s regulatory framework on financial benchmarks as equivalent to the requirements under the EU’s Benchmarks Regulation.
04/19/2020
EBA agrees with the European Commission’s amendments to standards on risk weights to specialised lending exposures
The third substantive change simplifies the rules on overlapping criteria at the level of the sub-factor or of the sub-factor components.
04/19/2020
ECB Banking Supervision provides temporary relief for capital requirements for market risk
The ECB is temporarily reducing a supervisory measure for banks
04/19/2020
EY ordered to pay whistleblower $11m in Dubai gold audit case
Court rules accountancy firm breached code of ethics in its dealings with a refiner
04/17/2020
Denmark Demands $175 Million From Lawyers in Tax Fraud Case
The newspaper cited a 10-page letter sent by Denmark’s state attorney to Bech-Bruun on April 2.
04/17/2020
Former Barclays banker cleared of fraud hits out at SFO’s powers
Richard Boath tells FT the agency that charged him had fallen short of its responsibility
04/17/2020
Covid-19 - Charity AGM Restrictions in the Isle of Man
The Attorney General has agreed that any charity which is required to hold its AGM before the end of April and is prevented from doing so due to the COVID-19 outbreak
04/17/2020
UK pension investors look to step up private market allocations
Shift away from public markets is likely to be a reaction to the reported 20% decline in plans’ performance numbers for the first quarter
04/17/2020
Mortgage complaints fall – FCA
Barclays' private bank attracted the most mortgage complaints from an active lender in the second half of 2019, according to data.
04/17/2020
Barclays CEO avoids vote against re-election over Epstein ties
Activist investor Ed Bramson eases up on calls for Jes Staley’s removal amid Covid-19 crisis
04/17/2020
FCA issues dividend and buy-back warning
The FCA said government schemes designed to help firms through the lockdown period could be used to pay debts as they fall due, but the regulator has previously clarified these loans cannot be used to meet capital adequacy requirements.
04/17/2020
Chancellor extends furlough scheme to end of June
Coronavirus Job Retention Scheme extended by one month to reflect continuing social distancing measures.
04/17/2020
ESMA Final Guidance on Performance Fees in UCITS and Certain AIFS
ESMA has published its final report on guidelines on performance fees in investment funds which is applicable to both UCITS and certain types of AIFs.
04/16/2020
Ex-Barclays banker Richard Boath attacks Serious Fraud Office dual role
Speaking to the Financial Times, he called on the attorney-general to investigate the powers of the agency, which both investigates and prosecutes alleged frauds.
04/16/2020
Covid-19: FCA calls on insurers to pay valid claims quickly
Business interruption In the letter, which was specifically looking at business interruption insurance for SMEs, Woolard accepted that most BI policies have basic cover which does not cover pandemics.
04/16/2020
FSB publishes report on international cooperation to address the financial stability implications of COVID-19
The FSB is closely monitoring the resilience of key nodes in the financial system that are critical for financial stability.
04/16/2020
ANIMA SGR selects SimCorp to enhance front office and deliver new services to the Italian insurance market
SimCorp announces a new agreement with Anima, the largest independent asset management group in Italy.