03/17/2020
Coronavirus - A New Regulatory Risk Facing Firms in the UK Financial Sector
COVID-19 is reported to be highly contagious and a more severe disease than seasonal influenza in a population where no-one has immunity to the new virus.
Legal, Regulation & Compliance
03/17/2020
Lords call to postpone IR35 reform amid Covid-19 fallout
Now, peers are warning to continue with the planned changes in light of the market chaos caused by the ever-spreading coronavirus outbreak would be "perverse".
03/16/2020
European Commission report on implementation of CSMAD
REPORT FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT AND THE COUNCIL on the implementation of Directive 2014/57/EU of the European Parliament and of the Council of 16 April 2014 on criminal sanctions for market abuse (market abuse directive)
03/16/2020
Cyprus Bar Association’s mandatory questionnaire on AML/CFT
The procedure covers the periods 1 January 2018 – 31 December 2018 and 31 December 2018 – 31 December 2019 and must be completed by 30 April 2020 by all supervised persons.
03/16/2020
Spanish king named on offshore fund linked to €65m Saudi 'gift'
Revelations threaten to tarnish king's image six years after he took over from his scandal-hit father
03/16/2020
Coronavirus: Remote working for financial services
It’s an unprecedented situation with a large proportion of the global workforce now working from home in an attempt to delay and contain the virus.
03/16/2020
Esma puts new leash on shorting in response to Coronavirus
ESMA considers that the current circumstances constitute a serious threat to market confidence in the EU, and that the proposed measure is appropriate and proportionate to address the current threat level to EU financial markets.
03/16/2020
Swiss Banks Mull $20 Billion Crisis Fund
Credit Suisse boss Thomas Gottstein suggested the idea of a small business fund of at least $20 billion for bridge financing.
03/16/2020
Solvency II: the quality of capital instruments
This statement should be read alongside all relevant European legislation and relevant parts of the Prudential Regulation
03/16/2020
Solvency II: Adjusting for the reduction of loss absorbency where own fund instruments are taxed on conversion
This policy will take effect on publication of this PS on Monday 16 March 2020.
03/16/2020
FSCS pays £381k against adviser's old firm
Mr Webster had previously said he was increasingly concerned about high regulatory fees and the FSCS levy at the time and suggested replacing the latter with a "product levy".
03/16/2020
Deutsche Bank to operate globally in split teams from Monday
Some executives and investors have feared that the outbreak could stall the bank’s restructuring efforts, and Deutsche’s shares fell last week to a record low amid a broad market rout.
03/15/2020
BoE report on open data for SME finance
The action we'll take in response to Huw van Steenis' report on the future of finance
03/15/2020
Government and regulators' responses to Treasury Committee reports on IT failures and economic crime
The Government published its response to the Committee’s business rates report on 27 February 2020
03/15/2020
Biglaw Firm Institutes Mandatory Work-From-Home Policy To Protect Personnel From Coronavirus
When will other firms come to their senses and offer work-from-home solutions like this?
03/15/2020
Overriding legal professional privilege - The iniquity exception
Legal professional privilege acts as an exception to the general disclosure and inspection rule. It has two parts - legal advice privilege and litigation privilege.
03/13/2020
Ex-Barclays CEO Varley Faces Quizzing in $2 Billion Suit
Former banker Jenkins also to face questions during June trial
03/13/2020
FCA new webpages on STFR
The FCA has published a statement on LIBOR contractual triggers confirming that any annoucements made in relation to LIBOR cessation, which may be made before the end of 2021
03/13/2020
Investec pulls offer of minority stake in Ninety One amid market chaos
The group said it would not go ahead with the global offer to sell a stake of around 10%, but would press on with the demerger and listing.
03/13/2020
Advisers take Mifid disclosure ‘nightmare’ into own hands
“This is complex, particularly for those advisers that use multiple platforms, each with different data standards and reporting methodology.”