11/21/2019
Swedbank’s High-Risk Russian Secrets
Leaked reports show Russian oligarch Mikhail Abyzov moved a fortune offshore through the Swedish bank.
Legal, Regulation & Compliance
11/21/2019
ECB report finds eurozone financial stability environment challenging
Meanwhile, targeted macro-prudential policy measures are in place to address vulnerabilities in the banking sector and real estate markets, but the toolkit for non-banks needs to be further developed
11/21/2019
Risks to financial stability are growing thanks to shadow banks and inflated property prices, says European Central Bank
The organisation's latest financial stability report warns that the global economy could falter in the event of a financial shock
11/21/2019
The different UK election outcomes and what they could mean for markets By Rupert Thompson, Kingswood
With the pound and UK equities both still cheap, we no longer believe a sizeable underweight of UK equities is warranted.
11/21/2019
Next steps in transition from LIBOR by Edwin Schooling Latter, FCA
Speech by Edwin Schooling Latter, Director of Markets and Wholesale Policy at the FCA, delivered at the Risk.net LIBOR Summit, 2019.
11/21/2019
PRA statement on delegated regulation changes published by European Commission
These changes relate to the: Standard Formula component loss-absorbing capacity of deferred tax (LACDT); segmentation of non-life insurance and reinsurance obligations
11/21/2019
Anglo Austrian Bank in liquidation amid money laundering allegations
The decision to withdraw the AAB's trading license is considered unique
11/21/2019
ECB flags failings in dirty-money screening at Malta’s top bank
BoV said it was strengthening its risk controls, governance structure and anti-financial crime defences and said customers who operated in the gaming industry, a key business in Malta, were most at risk of being hit by remedial measures.
11/21/2019
Wirecard says 2017 audit of Singapore unit not concluded due to probe
Wirecard's shares have whipsawed after several media reports raised questions about accounting methods, all of which the company has rejected.
11/21/2019
European banks face large capital shortfall with Basel III rules: study
The aim of the Basel III rules, which the EU agreed with the United States, is to increase banks’ ability to withstand financial shocks.
11/21/2019
Will Europe experience Japan's 'lost decades' or a Swiss effect?
There are some clear commonalities between the two regions: both have ageing populations, both have experienced a period of deleveraging, have an inefficient banking sector, and exceptionally low policy rates.
11/20/2019
Citi extends Temenos contract for fund administration
Temenos claims its administration products support some 30,000 funds globally, with assets of $7trn.
11/20/2019
Prince Andrew: Standard Chartered bank cuts ties with duke's scheme
The interview has provoked a backlash, with businesses, charities and other institutions announcing that they were reviewing their association with the prince.
11/20/2019
Andersen Global Expands in Bosnia and Herzegovina
Collaborating with Andersen Global enhances our service offerings and extends our cross-border reach,” said Aleksandar.
11/20/2019
FCA fines Henderson £1.9m for fund failings
Retail investors were charged up to 1.5% for Henderson funds that ditched active management
11/20/2019
FCA guidance for firms on LIBOR transition conduct risk
We encourage all firms that currently rely on LIBOR to read and consider these questions and answers
11/20/2019
Finalised FCA guidance on GI distribution chain
This guidance is relevant to all firms conducting general insurance and protection business
11/20/2019
EU Mandatory Reporting of “Tax Aggressive” Cross-Border Arrangements – DAC6
Any cross-border arrangements that are seen as “potentially tax aggressive” needs to be reported to the tax authorities.
11/20/2019
Out of time financial provision claims under the 1975 Act – further clarity from the English Court of Appeal?
The Court gave helpful guidance on the principles which judges should apply when determining whether to exercise their discretion to extend the statutory time limit
11/20/2019
Over 180,000 Irish companies not compliant with money laundering rules
The information required includes each beneficial owner's name, residential address, nationality, date of birth, PPS number and the nature and extent of their ownership or control of the company.