03/25/2020
Coronavirus Job Listings and Money Laundering Schemes
Scammers posing as a legitimate charity foundation are hiring online customer service representatives that are required to do some groundwork in an initial stage.
Legal, Regulation & Compliance
03/25/2020
Impact of the coronavirus on firms’ LIBOR transition plans
The FCA, Bank of England and members of the Working Group on Sterling Risk-Free Reference Rates have discussed the impact of the coronavirus on firms’ LIBOR transition plans over the coming months.
03/25/2020
Bank of England - COVID Corporate Financing Facility
In a nutshell, the CCFF is commercial paper purchase programme designed for non-financial corporates to support them through the turbulence resulting from Covid-19.
03/25/2020
Emergency Capital Raises for Public Companies
An FCA approved prospectus will usually be required for a rights issue, for both main market and AIM quoted companies
03/25/2020
UK government and Bank of England tell banks to keep lending
Banks were expected to support all types of firms, not just those covered by BoE and government schemes rolled out so far, they added.
03/25/2020
Finma adds firms including blockchain specialist to warning list
The list includes companies that might be carrying out unauthorised or unsupervised wealth management and banking services
03/24/2020
How Italian advisers and wealth managers are tackling covid-19
The country has taken martial law-like measures to contain the spread of coronavirus
03/24/2020
Coronavirus: can the ECB’s ‘bazooka’ avert a eurozone crisis?
Much may depend on whether Germany is willing to bail out Italy
03/24/2020
Swedbank pulls ex-CEO’s golden parachute over money-laundering crisis
Swedbank last week said that it was monitoring the situation would evaluate the effects of the virus before taking a final decision on the dividend.
03/24/2020
Basel Committee coordinates policy and supervisory response to Covid-19
The Committee is continuing to assess and address the banking and supervisory implications of Covid-19
03/24/2020
COVID-19: HMRC Clarifies Exceptional Circumstances Under Statutory Residence Test
The basic rule is that an individual is treated as being in the United Kingdom on any day where they are in the United Kingdom at midnight at the end of that date, known as the ‘midnight rule’.
03/24/2020
Statement on UK markets
The FCA continues closely to monitor market activity
03/24/2020
The UK government’s Coronavirus support packages
Due to the fast-moving nature of the government response to the outbreak, while this briefing is up to date as of 23 March 2020, there may have been further developments since then.
03/24/2020
Ex-Barclays worker jailed for his part in scam which saw £68k taken from customers
Afolabi Adepoju, 32, took part in a ‘slick scam’ with others by passing on confidential security details so fraudsters could call the bank or pose as legitimate customers online
03/24/2020
FSCS receives 80 claims against failed DFM
The company brought in administrators shortly after and the FSCS has already declared a number of advice firms which were embroiled in the debacle in default.
03/23/2020
Retirement incomes under threat from the Coronavirus
A growing list of companies are announcing dividend cuts, and/or scrapping buy backs.
03/23/2020
Coronavirus: FCA asks UK companies to delay results
Two-week moratorium to prevent investors acting on out-of-date information
03/23/2020
Coronavirus: London Stock Exchange leads push for virtual AGMs
The government is being urged to change the law to allow companies to hold remote AGMs amid the outbreak, Sky News learns.
03/23/2020
Swedbank Publishes Clifford Chance Findings on AML Missteps
Earlier this month, Swedbank disclosed that Clifford Chance had separately identified 586 transactions, worth an aggregate $4.8 million, that had likely violated US sanctions imposed in the wake of Russia’s 2014 takeover of the Crimean peninsula.
03/23/2020
Parliament votes in favour of tax, anti-money laundering rules
New laws include reporting obligations on cross-border tax arrangements, new state fund to buy buildable land for housing