04/01/2020
Guernsey legal and regulatory update
Guernsey's Revenue Service has introduced an online service for companies completing and submitting their corporate tax returns.
Legal, Regulation & Compliance
04/01/2020
Pension investment advisor banned
Wolverhampton financial advisor has been banned for 8 years after firm provided poor pension investment advice resulting in clients losing £7 million
04/01/2020
Working Through the Lockdown
In both social and business environments this is a community event being faced as a community.
04/01/2020
Government change to inflation measure set to reduce lifetime pension income by up to 21%
A 65 year old pensioner in 2020 could receive up to 21% less per year in a DB pension by the age of 90
04/01/2020
COVID-19: FCA updates webpages on short selling bans, SCA, and information for firms
The International Association of Insurance Supervisors (IAIS) has published the March edition of its newsletter.
04/01/2020
Weekly Tax Brief
HMRC is to extend the soft-landing period granted under Making Tax Digital for VAT, giving businesses until April 2021 to ensure a clear digital audit trail is in place throughout their VAT return process.
04/01/2020
Banks around the world are suspending loan repayments as coronavirus hits borrowers
Small and medium-sized firms can defer principal payments on secured term loans also up to the end of the year.
04/01/2020
Regulatory measures for firms in response to Covid-19
The PRA welcomes the decisions by the boards of the large UK banks to suspend dividends
03/31/2020
Regulator permits three-month pension transfer freeze
Some schemes may have also experienced an increase in demand for CETV calculations which would place additional strain on administration teams.
03/31/2020
UK banks expect regulator to order dividend freeze
Action likely this week to shore up lenders’ capital levels for coronavirus outbreak
03/31/2020
Watchdog puts brakes on FNZ and GBST merger
The number of companies involved in back-office platform technology is small
03/31/2020
ECB wants to parade the banks for the bonuses
Already at the end of last week, the ECB, under its supervision, ordered the 117 major European banks to freeze dividends and share buybacks until at least October.
03/31/2020
UK temporarily changes insolvency laws amid pandemic
Firms undergoing rescue or restructure can keep trading to avoid winding up
03/31/2020
Ukraine parliament passes bank law required for IMF loan in first reading
Lawmakers also voted to speed up the adoption of the law, giving the parliament’s finance committee less than two weeks to prepare it for the second reading.
03/31/2020
FCA denies adviser authorisation over compliance concerns
In particular, there were no policies for dealing with vulnerable customers or anti-money laundering, and the compliance monitoring document was insufficiently tailored to the business.
03/31/2020
Spanish Supreme Court Rules in Favor of Spanish Dividend Withholding Tax Refund
In this series, Forum members will regularly share their views on current and important topics.
03/30/2020
Coronavirus: FCA summons council of war
With comparisons moving beyond the 2008 financial crisis to the 1930s, Woolard has been at the heart of efforts by policymakers to quell the economic impact of the virus, which has caused tens of thousands of deaths around the world.
03/30/2020
Bankruptcy Experts Call for Looser Rules to Save U.K. Firms
The U.K.’s Insolvency Service didn’t push back against the idea, saying in an emailed reply to questions: “We are listening to our stakeholders in the insolvency industry about what additional measures could be taken to help businesses d
03/30/2020
The marketing of EU funds into the UK Post-Brexit: The Death Knell for the UK funds industry?
If the UK Government insists on allowing EU funds to continue to be marketed without reciprocal passporting, this could be the beginning of a gradual demise for the UK funds industry.
03/30/2020
The future of Real Estate and why Luxembourg holds the key
To prevent an accumulation of frozen assets, fund managers need to identify ways to truly integrate ESG principles into their real estate portfolio without greenwashing and communicate this clearly and effectively back to the investor.