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.
Legal, Regulation & Compliance
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.
04/16/2020
COVID-19: UK Tax Residence Risks for Offshore Funds and Related Entities – HMRC Update
Where it remains essential for directors to participate in board meetings from the UK
04/16/2020
Financial complaints soar to over 6m - FCA
Excluding PPI complaints, the most complained about products were current accounts (10% of all complaints), credit cards (6%) and other general insurance products (5%).
04/16/2020
Advice boss jailed over £13m Ponzi scheme
Midas pitched the investments as offering attractive returns on "favourable terms" made possible by the owner's supposed relationship with a high-street bank.
04/16/2020
Carey Olsen advises on London property deal
The Carey Olsen team was led by partner Kate Andrews and included senior associate Mathew Du Val and associate Aldo Plater.
04/16/2020
Ogier fields a 'top class' team in Luxembourg
I am delighted that individuals have gathered such excellent feedback
04/15/2020
ESMA calls for consultation on its cross-border distribution of funds
This consultation paper sets out proposals for the aspects of the ITS relating to the publications to be made by NCAs on their websites with respect to marketing requirements and to regulatory fees and charges.
04/15/2020
Covid-19 Fundamentally Reshapes the FCA's Strategic Priorities in Its 2020/21 Business Plan
In this Insight, Sushil Kuner summarises the key aspects of the FCA's Business Plan and explores the FCA's expectations for firms to take the end outcomes for consumers and markets into greater account when designing and delivering services.
04/15/2020
Beyond The Headlines: Fca Scraps Mifid 10% Letter Rule
As has been demonstrated with the spread of unresearched information around COVID 19, this can have dangerous consequences.
04/15/2020
COVID-19: FCA delays GI pricing practices final report
The FSB has published the letter from Chair Randal Quarles to G20 Finance Ministers and Central Bank Governors which was sent ahead of their virtual meeting on 15 April.
04/15/2020
How fintech can promote financial inclusion - a new report on the opportunities and challenges
Technological innovation has made major inroads into financial services, which has implications for payments and their key role for financial inclusion.
04/15/2020
EFG International changes dividend proposal
EFG is not the first company to adjust its dividend proposal.
04/14/2020
PwC delays promotions as part of Covid-19 freeze
Most prominently, the start of April has seen professional services giant PwC announce it has delayed its UK staff appraisal programme, which usually commences after March 31st.
04/14/2020
OECD issues welcome guidance on tax treaty issues arising from the COVID‑19 crisis
This may change the tax treatment under the applicable treaty due if, for example, the number of days that a worker may work outside the country of employment is reduced.
04/14/2020
Coronavirus: New overdraft rules apply from today - '£500 interest-free' help launched
BANKS and other financial companies must incorporate new rules from tomorrow. The new measures being put in place will affect loans, credit cards and overdrafts.
04/14/2020
Russia notifies Luxembourg, Malta about dividend tax increase
Changes will not affect interest gains paid on Eurobond loans, bond loans of Russian companies and loans extended by foreign banks, according to Russia's Finance Ministry