01/23/2020
How 237 Maltese taxpayers got off the Panama Papers hook
The police never carried out a comprehensive probe
Legal, Regulation & Compliance
01/23/2020
Brussels draws up hit list of UK financial services as row over EU rules after Brexit intensifies
The future trading relationship on financial services will be based on a so-called “equivalence” regime which can be withdrawn unilaterally at just 30 days notice.
01/23/2020
EBA updates its guidelines on fraud reporting under PSD2
A consolidated version of the updated guidelines is published alongside the amending guidelines for convenience purposes.
01/23/2020
UK FCA becomes AML/CFT crypto supervisor
The development comes under the amended Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017 (MLRs)
01/22/2020
High Court Strikes Out Claim Against Banks In Their Capacity As Lenders To Investors Of A Tax Deferral Scheme
This is particularly welcome in circumstances where investors are increasingly pursuing claims against such lenders
01/22/2020
What money laundering rules mean for crypto and trusts
There are significant penalties for those individuals and entities failing to fulfil their responsibilities.
01/22/2020
DAC Beachcroft continues international expansion
DAC Beachcroft’s integration with Asjusa further strengthens its leading international insurance practice, which acts across the full breadth of the insurance sector and includes a presence in key markets throughout the UK, Europe, Asia Pacific and
01/21/2020
SFO updates Handbook guidance on evaluating a compliance programme
The Serious Fraud Office has updated its Operational Handbook to include a chapter on evaluating a compliance programme. The chapter considers: the relevance of compliance for SFO cases; what a compliance programme entails; time periods relevant to deci
01/21/2020
Disguised remuneration: independent loan charge review
The independent review of the disguised remuneration loan charge has now concluded and the government has published its response.
01/21/2020
The LuxSE updates its Rules & Regulations
The LuxSE has substantially amended its Rules & Regulations to integrate recent mandatory legal and regulatory developments as well as to provide increased clarity, transparency and usability for its clients.
01/21/2020
Luxembourg's fund sector faces risk of abuse
Report warns that the country's position as an investment hub increases the likelihood for criminals to commit fraud
01/21/2020
FCA readies for fresh crackdown on advisers
In the letter advisers were urged once again to “start from the assumption that a pension transfer is not likely to be suitable”
01/21/2020
Cheshire advice firm pays staff to quit
Equilibrium Asset Management employs 86 staff at its office in Wilmslow.
01/21/2020
Appleby advises on closing of Zedra acquisition
"We look forward to seeing ZEDRA go from strength to strength in the jurisdiction.”
01/21/2020
VitalityInvest and SEI launch new Global Multi-Manager fund range
The new Global Multi-Manager funds are available exclusively through VitalityInvest’s ISA, Junior ISA and Retirement Plan
01/21/2020
Heads could roll at PwC over Isabel dos Santos links, says chairman
Exclusive: Bob Moritz says he is ‘shocked and disappointed’ by Luanda Leaks disclosures
01/21/2020
Ex-Barclays chair says banker accused of fraud had instinct for 'ethically right' deals Save
City grandee Sir David Walker issued a spirited defence of investment banker Tom Kalaris, one of three former top Barclays executives who are accused of wrongdoing over multi-billion pound payments from Qatar which kept the bank afloat at the height of th
01/21/2020
CMA publishes loyalty penalty update
The CMA has reported on the progress made in tackling the loyalty penalty that impacts millions of people.
01/20/2020
Woodford fund shows vulnerable side of shadow banking, regulator says
By contrast, the growth rate averaged 8.5% annually in 2012-17, when shadow banking grew rapidly as banks faced heavier regulation following the 2007-09 financial crisis.
01/20/2020
McMafia law to target drug dealers’ millions
THE McMafia law could be used to strip county lines drug dealers of assets, even if police do not have enough evidence to charge them.