11/27/2019
ECB speech on European retail payments market
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at the Joint Conference of the ECB and the National Bank of Belgium on “Crossing the chasm to the retail payments of tomorrow”
Legal, Regulation & Compliance
11/27/2019
BCBS and BCG joint statement on proportionality
The Basel Framework envisions a range of approaches, from simpler standardised approaches to advanced approaches.
11/27/2019
FSB publishes updated report on regulatory framework for haircuts on non-centrally cleared SFTs
The framework aims to address financial stability risks associated with SFTs.
11/27/2019
Exclusive: FCA chief rules out ‘best endeavour’ leeway on P2P rules
The FCA on Tuesday announced a ban on mass-marketing of mini-bonds, following the collapse of London Capital & Finance this year that left thousands of everyday investors out of pocket.
11/27/2019
GDPR breaches in 2019 lead to €402.6m in fines
The UK’s data protection authority, ICO, fined the British airline after the Magecart group used card skimming to collect the personal and payment information of up to half a million their customers.
11/27/2019
Global Risk-Taking Binge Gives Central Banks Cause to Shudder
The danger is that such risk-taking recreates a backdrop similar to that preceding the global financial crisis a decade ago.
11/27/2019
The Rise of Digital Services Taxes
Governments are coming after online businesses. Multinational clients that provide online advertising services, sell consumer data, or run online intermediary platforms should prepare themselves for the imminent arrival of digital services taxes (DSTs) on
11/27/2019
European Central Bank now investigating CBDCs to bolster central bank money
Cœuré also revealed that the central bank will continue to monitor and explore how new technologies change payment behavior in the Euro area
11/27/2019
FCA gets £290k confiscation order against convicted fraudster
‘The FCA will continue to take steps to ensure that proceeds of criminal activity are confiscated from the criminals we prosecute so that victims can be compensated as far as possible.’
11/26/2019
Switzerland pushes for more financial transparency
The Swiss parliament is likely to examine the proposal for the first time in the 2020 spring session.
11/26/2019
FCA policy statement on changes to DEPP and EG regulatory guides
We are setting out changes to our DEPP and EG regulatory guides and processes now that we have new powers to discipline and investigate proxy advisors.
11/26/2019
Swiss bankers fined over 1MDB dealings
1MDB is at the centre of money laundering probes in at least six countries, including the United States, Switzerland and Singapore.
11/26/2019
Despite Scandal, Cyprus Will Keep Selling Golden Visas, EU Passports
In an interview with the Greek newspaper Kathemerini, Petrides said Low – one of those whose visa, including an EU passport, was stripped – would not have been given a passport under today’s criteria despite reports it was still too leni
11/26/2019
Citi fined £44m by UK watchdog for 'serious' failings
The PRA’s investigation focused on CGML’s capital and leverage returns, CGML’s liquidity returns and CEP UK and CBNA London’s branch returns.
11/26/2019
‘Priceless’ Jewelry, Artifacts Stolen From German Museum
The stolen jewelry is “unique in Europe,” said Dirk Syndram, the director of the Grunes Gewolbe.
11/26/2019
EU should keep its promise of not asking banks for even more capital - ECB
Fully implementing Basel III will have a positive effect on the economy in the long run.
11/26/2019
FCA Steps in to Halt Mini-Bond Sales
Regulator to impose temporary ban on mini-bond sales to retail investors next year amid concerns over the promotion of these high risk and hard-to-understand products
11/26/2019
Rothschild Aided Czech Billionaire in ‘Fraud,’ Hedge Fund Claims
Rothschild helped Vitek quietly take control of Luxembourg-based Orco Property Group so the billionaire could strip it of its most valuable assets
11/26/2019
Trustees Take Comfort - High Court Upholds Broad Scope of Exoneration Clauses
The judgment is also noteworthy in particular for Hong Kong and Australian trustees and beneficiaries.
11/25/2019
Executive director of the Queen’s bank Coutts denies it was an ‘old boys’ club’
Executive director of the Queen‘s bank Coutts denies it was an ‘old boys‘ club‘ and says pay gap exists because ‘there are more men in senior positions‘ amid woman financier‘s £400,000 sexism claim, court he