01/30/2020
BoE shies away from insurance cut and prays for sustainable growth - Fidelity comments
The MPC’s decision took place in a moment of added significance - this is the eve of Brexit.
Legal, Regulation & Compliance
01/29/2020
Prevention of Money Laundering and Terrorist Financing: Identity of beneficial owners
Professionals should keep records of all actions taken to identify the UBOs under point (i), (ii) or (iii) and they should be ready, when requested, to justify the measures they have taken.
01/29/2020
Russian hackers target African banks
The malicious file is downloaded on to a bank employee’s machine and from their Silence waits and observes.
01/29/2020
Brexit: What's next? What investors expect and the crunch dates
The UK will also no longer be covered by trade deals between the EU and third countries unless these agreements have already been rolled over or new deals have been made.
01/29/2020
ABLV bank raided as part of 50-million-euro money laundering investigation
The prosecutor’s office confirmed that at least 20 authorized searches in Latvia and abroad are being carried out in cooperation with law enforcement agencies of other countries in connection with money laundering of at least EUR 50 million.
01/29/2020
Charities secure exemption from new layer of anti-money-laundering regulation
A technical consultation launched this month, which said: “Charitable trusts are not in scope to register because the risk of these kinds of trusts being used for money laundering or terrorist financing activity is low”.
01/29/2020
SFO Internal Guidance on Evaluating a Compliance Programme
The SFO's Operational Handbook is for internal SFO guidance, does not constitute official guidance to third parties and is published in the interests of transparency.
01/29/2020
Devolution talks underway in Leeds
Talks will begin today (January 29) in Leeds between government ministers and local leaders on a devolution deal for West Yorkshire
01/29/2020
FCA letter to major banks on overdraft pricing
Over the past few days there has been significant comment about many headline overdraft rates, and in particular that major banks have aligned overdraft rates around 40 per cent.
01/28/2020
Drop in HMRC tax fraud investigations
As FOI shows number of raids fell by 23% last year but ‘interpreting the data is not straightforward’
01/28/2020
GAM activist calls for immediate action to re-examine sale
Swiss asset manager has previously dismissed speculation it was in talks about a potential deal
01/28/2020
Bank of China Settles Money Laundering Case for $4 Million
The lender will pay a 3 million-euro fine and 900,000 euros in damages to French tax authorities to put the criminal allegations behind it
01/27/2020
Senior partner bags £1m for lock-in deal extension
The agreement contained non-poaching and non-solicitation restrictive covenants for two years following termination of his employment, and a covenant preventing Rosenblatt from being employed, engaged or interested with any competitive business for 12 mon
01/27/2020
Guernsey Finance “is more relevant than ever”
Mr Wheatley said: “Representing the island and this financial community for the past five years has been among the most rewarding and enjoyable periods of my career.”
01/27/2020
Germany Probes Deutsche Bank Payments to Saudi Royal Adviser: FT
The money transfers were arranged in 2011 and 2012, along with other perks, including an internship and a seminar at a Swiss ski resort.
01/27/2020
Rothschild bank heirs sue authorities in Vienna for 'perpetuating Nazi laws by plundering £90m charitable trust that was seized by Hitler'
The lawsuit has accused district of plotting to sell valuable property under value
01/27/2020
PIMFA Welcomes IRSG Report on ‘Architecture for Regulating Finance after Brexit’
The report reflects a number of PIMFA views and interests, and will help our own bilateral work with Treasury to ensure that our detailed knowledge of the retail investment, savings, and advice markets, and their regulation, receives full consideration in
01/27/2020
FINMA Credit Suisse Investigation Could See Executive Overhaul
The bank is being investigated for spying on its own personnel.
01/27/2020
France charges bitcoin expert Vinnik with money laundering
The judges handed him preliminary charges of extortion, money laundering and organized crime activity, the official said Friday.
01/27/2020
Danish authorities struggling with surge in suspicious money flows
The agency said the FIU’s electronic screening model was “too simple” and had a “range of weaknesses”, and that it had failed to process all relevant reports and forward these to authorities.