05/15/2020
EU starts legal actions against Luxembourg over money laundering, tax avoidance
EU legal actions could lead to fines if member states do not apply common legislation.
Legal, Regulation & Compliance
05/15/2020
BNP Paribas in partnership for Total's zero-emissions pledge
This agreement is one of the most significant achievements in the oil and gas industry so far.
05/15/2020
ECB announces new measures to increase share of female staff members
The strategy covers the period until 2026, so as to fall within the mandate of President Christine Lagarde.
05/15/2020
European bank loans Turkey’s QNB Finansbank $108M
European Bank for Reconstruction and Development loan to help Turkish lender support trade, SMEs amid virus crisis
05/15/2020
The ECB must shift to a wholesale acceptance of junk bonds
A change in the framework would also ensure that member states’ difficulties are not compounded by their debt becoming ineligible.
05/15/2020
Coronavirus: WTO head steps down a year early as downturn looms
Global trade has slumped and the world is braced for the worst downturn since the Great Depression.
05/15/2020
Insurers asked to waive fees and delay payments amid covid-19
To help clients who are struggling financially during the outbreak
05/15/2020
UK regulator warns firms over offline clients
But it will show ‘flexibility’ in how it approaches customer communication during outbreak
05/15/2020
Brussels tells UK it must honour EU free-movement rules
Commission launches ‘infringement proceedings’ against Britain that could end up before courts
05/15/2020
Coronavirus latest UK travel guidelines
UK Government guidance issued on 11 May 2020 confirmed that all people entering the UK, including British citizens, will be asked to supply their contact details and details of their accommodation
05/15/2020
ESA Join Consultation Paper On ESG Disclosures
This briefing highlights some key takeaways for asset managers in relation to the Consultation Paper and Draft RTS
05/15/2020
COVID-19: FCA final guidance for insurance and premium finance firms on customers in temporary financial difficulty
The measures require firms to consider what options they can provide to customers
05/15/2020
Former Swedbank Employees Charged With Laundering ‘Large’ Sums
The transactions took place over a “period” and ended in 2017 after Swedbank improved controls, according to the statement. The employees were fired.
05/14/2020
Coronavirus: New UK Charity Commission guidance on managing financial difficulties
The guidance also notes that a charity may receive significantly less money now on the sale of investments and assets as compared to normal times.
05/14/2020
EU eyes extension to cross-border reporting
Member States could have three more months to exchange information
05/14/2020
FCA Statement on how firms should handle post and paper documents
We recognise that during the coronavirus (Covid-19) pandemic there will be some important functions, such as processing post, that will be more difficult for firms to do in a timely way.
05/14/2020
Corporate Crime Update
Our update now covers a number of jurisdictions.
05/14/2020
ESMA highlights challenges for rating CLOs
ESMA expects CRAs to continue to perform regular stress-testing simulations and to provide market participants with granular information on the sensitivity of CLO credit ratings to key economic variables affected by the pandemic.
05/14/2020
European Disharmony
With Boris Johnson unlikely to accept this, a new trade treaty agreed before the December deadline appears ambitious, though is still possible.
05/13/2020
Companies brace for legal battles over unsafe travel for workers
The return to work is fraught with legal risks for employers, lawyers warn