02/07/2020
STM Malta targets Irish work pensions market with EURBS
The STM Protected Retirement Plan is licensed and regulated as a personal retirement scheme with the Malta Financial Services Authority.
Legal, Regulation & Compliance
02/07/2020
ESMA Updates on Progress on Compliance with the MIFIR Pre-Trade Transparency Requirements in Commodity Derivatives
ESMA is providing the state of play in the application of the Supervisory Briefing on that date.
02/07/2020
ESMA strategy on sustainable finance
It has already delivered on several objectives of the EU’s action plan on financing sustainable growth and will continue to assist the EU institutions to achieve sustainable finance goals.
02/07/2020
PRA issues two bans and three public censures following failure of credit union
The PRA expects directors and senior managers to understand their responsibilities with regards to governance and the management of conflicts of interest, and to ensure they and the firm comply with the PRA’s regulatory requirements.
02/07/2020
ABN AMRO Clearing Chicago Charged With Improper Handling of ADRs
The SEC’s order finds that ABN AMRO improperly borrowed pre-released ADRs from other brokers when it should have known that those brokers did not own the foreign shares needed to support those ADRs.
02/07/2020
FCA sounds alarm on client data sales
The FCA warned: "The terms, conditions and clauses within a standard contract are highly unlikely to constitute sufficient legal consent for personal data to be shared with CMCs to market their services, and may not be lawful."
02/07/2020
France says British financial industry needs to follow EU rules to gain access
His remarks fuelled a massive rift after both Brussels and Ireland drew up plans to offer concessions on financial services to secure continued access to British fishing waters for European vessels.
02/06/2020
Client Alert: OECD Two Pillars
The Statement follows public consultations in November and December 2019.
02/06/2020
Barclays faces fresh investor revolt over fossil fuels
Bank under pressure from UK’s powerful Investor Forum to adopt stricter climate policies
02/05/2020
FCA final rules on publishing and disclosing costs and charges to workplace pension scheme members
The Pensions Act 2014 placed a duty on the FCA to make rules for publishing and disclosing costs and charges information for the workplace pension schemes we regulate.
02/05/2020
JMLSG consultation on proposed amendments to guidance
A new sector is being created in Part II to provide sector specific guidance for cryptoasset exchanges and custodian wallet providers.
02/05/2020
Orsingher Ortu Expands Its Capability in Rome
Italian law firm Orsingher Ortu has absorbed Rome-based boutique Verusio e Cosmelli, strengthening its presence in the Italian capital.
02/05/2020
ESMA amends guidelines around enforcement of financial information
The amendments to the guidelines will become effective on 1 January 2022.
02/05/2020
Luxembourg Update: CSSF's Brexit Transitional Period Advisory
In anticipation of the UK's withdrawal from the EU, the Commission de Surveillance du Secteur Financier provided an update in respect of the status of the transitional period foreseen by the Brexit laws and the mandatory notifications procedure imple
02/05/2020
Dear CEO letters show FCA means business
These warnings followed the letter to advisers, which flagged a number of concerns including the perennial question of advice suitability.
02/04/2020
‘No surprise visits’ to Pilatus bank
Reasonable suspicion of money laundering in Enemalta deal
02/04/2020
Considerations for UK firms after the implementation period
The UK and the EU have indicated, in a Political Declaration, that they intend to reach agreement on the future relationship between the UK and the EU by the end of 2020.
02/04/2020
Citigroup Suspends Trader for Stealing Cafeteria Food
Junk-bond trader Paras Shah allegedly took food repeatedly from office cafeteria without paying
02/04/2020
Denmark seizes Sanjay Shah’s mansion over £1.5bn fraud claim
He is alleged to have created a complex scheme using fake documents to fraudulently claim tax relief on share dividends in Denmark.
02/04/2020
Russian Companies Pushing Gov’t for Crypto, Blockchain Legislation
Despite finding himself very much in the middle of the struggle between regulators and crypto-keen business interests, Aksakov appeared to rule out any lingering fears of a China-style crypto crackdown.