02/20/2020
European Commission Launches MiFID II Review
The consultation seeks to assess the overall functioning of the regime after two years of application, and potentially propose reforms if deemed necessary.
Legal, Regulation & Compliance
02/20/2020
Portugal Golden Visa Program For CEOs, CFOs, And Business Investors
After five years of legal residency in Portugal, it is possible to apply for Portuguese citizenship.
02/20/2020
Belfius Bank Completes Milestone Front to Middle Office Transformation with SimCorp Dimension
The successful implementation forms an important milestone for the bank, enabling flexible product expansion and further optimization of margins, a key benefit in today’s margin-sensitive environment.
02/20/2020
Julius Baer greatly enhances risk control and compliance
Closure of FINMA enforcement proceedings
02/20/2020
£2.56b fraud against Union Bank: EFCC presents first witness
At today’s sitting, the prosecution called its first witness, Adun Howard, who narrated to the court events that led to the charge.
02/20/2020
Italy hopes for EU green light soon on Monte dei Paschi clean-up
Clean-up key for Treasury to exit bank
02/20/2020
Boerse Stuttgart: New German Crypto Regulation Poised to Attract Institutional Investors
With regard to the new legal regulation of crypto custody in Germany as of 1 January 2020, Blocknox has already announced its intent to the supervisory authorities to apply for the required license.
02/20/2020
GFSC signs MoUs with two financial services regulators
The MoU with the Croatian Financial Services Supervisory Agency has been signed in the spirit of mutual cooperation and information exchange
02/19/2020
UK AMs face extra workload to meet ESG demands, report warns
Expanding beyond pension funds, Cerulli said UK insurers will also have to respond to changing demands around ESG, with climate-related financial disclosures and long-term scenario analysis likely to be more used than ever before.
02/19/2020
Priti Patel shakes up immigration to points based system
They will also be relieved by the lowering of the threshold for what’s considered skilled, as well as a suspension of the cap on skilled workers.
02/19/2020
Facebook faces tax court trial over Ireland offshore deal
Ireland has lower corporate tax rates than the United States, so the move reduced the company’s tax bill.
02/19/2020
FCA value rules could end trail commission
The value rules — which have been in effect since the start of 2020 — require asset managers to carry out assessments of their performance, costs, economies of scale, comparable market rates, services and share classes every year.
02/18/2020
Commission consultation on the review of the MiFID II/MiFIR regulatory framework
MiFID II and MiFIR started to apply in January 2018, bringing significant improvements to the functioning and transparency of EU financial markets.
02/18/2020
English Pre-Pack Appeal Changes the Game for Directors – Perspectives from Insolvency Lawyers in Jersey, Guernsey and Ireland
The judge ruled that a company director’s purchase of residential property from the company’s administrator at a “significant undervalue” had not been in the interests of creditors.
02/18/2020
TPR's Response to the Future of Trusteeship and Governance Consultation: What Does it Mean for Trustees?
TPR states that it will look to simplify how it presents its TKU expectations.
02/18/2020
FCA warns of suitability risks in advice firms looking to sell
The FCA said: "We have concerns that advisers may be recommending products with an ongoing advice requirement, potentially instead of more suitable options that do not have ongoing fees.
02/18/2020
Bahamas Removed from EU blacklist
The decision acknowledges that The Bahamas has implemented all the necessary reform to address concerns regarding economic substance, removal of preferential exemptions and automatic exchange of tax information.
02/18/2020
Taxation: Council revises its EU list of non-cooperative jurisdictions
Jurisdictions that do not yet comply with all international tax standards but committed to reform are considered cooperative and included in a state of play document (Annex II).
02/17/2020
Important decision for directors of companies in 'soft touch' provisional liquidation
The liquidator alleged that a director of the Company had breached his statutory duties as a director of the Company under the UK Companies Act during the course of the administration.
02/17/2020
English High Court Confirms Status of Cryptoassets as Property
The Applicant applied for an interim proprietary injunction over the Bitcoins that remained in the cryptocurrency exchange account.