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
Legal, Regulation & Compliance
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.
11/20/2019
Man accused of £13m 'Ponzi scheme' fraud
Mr Greig is charged with forming the allegedly fraudulent scheme at business addresses in Aberdeen
11/20/2019
FCA publishes damning report on gender diversity
There is an increasingly broad-based consensus about the need for gender diversity in financial services globally.
11/19/2019
The Launch of the Legal Statement on the Status of Cryptoassets and Smart Contracts by Sir Geoffrey Vos, Chancellor of the High Court
There is an endless spectrum of types of cryptoasset and cryptocurrencies, many of which already are or certainly will be designed for use as wholesale and retail payment mechanisms.
11/19/2019
Barclays’ Jenkins Told SFO Qatar Fees Justified by Opportunities
All three men have pleaded not guilty.
11/19/2019
German government would rather save the coalition than the climate, says activist
German climate activist Luisa Neubauer says politicians are hampering urgent climate action measures. She spoke to DW about the growing Fridays for Future movement and why older generations need to step up.
11/19/2019
RDR: Investors struggle with switch to clean share classes
Legacy retail share classes and clean shares’ ongoing charge figures (OCFs) have also seen a downward trend over the last six years.
11/19/2019
Isle of Man M&A Activity Up 64%
There were 24 deals involving Isle of Man companies in the first half of 2019, worth a cumulative USD560 million.
11/19/2019
The UK FCA finds three asset management firms in violation of competition laws
The FCA’s decision also highlights what an asset manager should not do when he finds himself on the receiving end of “strategic information” from a competitor
11/19/2019
Softbank in talks to take over KPMG’s private members’ club
The Big Four audit firm is now planning to write to all of the club’s 6,000 members to tell them their membership will end on 1 March, the FT reported.
11/19/2019
FCA bans and fines ex-CEO after he took steps to reduce his tax liability
Up until 2010, Forsyth was paid between £5,000 and £10,000 per annum, which was not considered unreasonable for the work she was undertaking.
11/19/2019
Singularis v Daiwa: first Supreme Court case to uphold a claim for breach of the Quincecare duty of care
The Court of Appeal also noted in that case that, due to the sheer volume of payments made by banks every day, it would only be “in rare circumstances” that a banker would breach its duty.
11/19/2019
Guernsey Deal Value Up in First Half of 2019 Over Previous Six Months
Offshore region as a whole records busiest first half for M&A over past five years, Appleby reports
11/19/2019
Jersey Deal Volume Up 11% in First Half of 2019 Over Previous Six Months
The Crown Dependencies overall had a healthy start to the year
11/19/2019
German authorities raid ABN Amro offices in Frankfurt: company
Dividend stripping, known as cum-ex, typically involves cross-border trading of company shares around a syndicate of banks, investors and hedge funds to create the impression of numerous owners, each of whom was entitled to a tax rebate.