03/25/2020
Acting selfishly has consequences right now – why ethical decision making is imperative in the coronavirus crisis
In fluid situations, these conditions are hard to meet.
Legal, Regulation & Compliance
03/25/2020
George Galloway shames Brussels' crippling £6.9m FINE against Italy amid COVID-19 outbreak
GEORGE GALLOWAY launched into a scathing attack on the European Union over the decision to issue Italy with a £6.9million fine over subsidies in the middle of the coronavirus pandemic.
03/25/2020
Holding the Line on Ultimate Beneficial Ownership
To address the challenges many jurisdictions experience in trying to ensure ownership transparency, last October the FATF released a best practice paper offering guidance on measures countries should consider to facilitate access to beneficial ownership a
03/25/2020
SRD II Comes into Effect in Ireland
They introduce new rules on investor engagement and investment strategy transparency for institutional investors and asset managers that invest on their behalf.
03/25/2020
Banks emerge as part of solution to Covid-19 economic crisis
Temporary cash flow relief may delay the emergence of credit losses but more marginal borrowers will struggle to recover from months of missed income.
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.
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.