01/19/2020
House of Lords European Union Committee letter on proposed Taxonomy Regulation
The Government’s Green Finance Strategy noted that the UK would “match the ambition” of the EU’s Sustainable Finance Action Plan
Legal, Regulation & Compliance
01/19/2020
Sainsbury's Bank urged to move borrowers to a regulated lender after pulling out of mortgage market
The bank has refused to rule out selling the loans to a private equity firm
01/19/2020
FCA data on mortgage prisoners
Following our Policy Statement on the changes to the responsible lending rules, we have published further data on the mortgage prisoner population.
01/19/2020
The death of LIBOR and the afterlife
LIBOR was developed and launched in the mid-1980s by the British Bankers Association.
01/19/2020
FCA blindsided by investment fund suspensions
Regulator admits it does not track frequency of funds that block investor withdrawals
01/17/2020
Mortgage currency quirk favours UK and expat buyers in Spain
Note the opposite is also true, though, your home currency could decline, which makes your debt more expensive.
01/17/2020
Why The Euro Is Starting To Resemble The Yen
Companies are borrowing at lower interests in Europe than in the United States.
01/17/2020
Poland and Germany to be top beneficiaries of 100 bln euro EU climate fund
Poland did not sign up to the 2050 neutral-emissions goal, arguing its energy systems and economy were too dependent on coal and lignite to make the transition in that time.
01/17/2020
Sale of Piraeus Bank’s Bulgarian subsidiary to Eurobank did not breach EU state aid rules, EU Commission says
Eurobank, Greece’s third-largest lender, announced in June 2019 that its Bulgarian subsidiary Postbank concluded on the acquisition of Piraeus Bank’s Bulgarian unit after obtaining regulatory approvals, – a process that started in Novemb
01/17/2020
Jaime Botin is sentenced to prison in Picasso Smuggling fiasco
Prosecutors argued that Botin was smuggling the painting out of Spain -- instructing the captain of his yacht to lie to law enforcement -- with the objective of selling it at a London auction house.
01/17/2020
FCA new money laundering and terror funding watchdog
They aim to stop criminals using professional services to launder money by requiring professionals to take a risk-based approach.
01/17/2020
Lords consider shake up of IHT rules
Assets and protection policies held in trusts are removed from an individual's estate and are therefore exempt from IHT.
01/17/2020
Freshfields' former Global Head of Tax charged with fraud
The arrangement involved treating a share as having two owners, so that both parties could receive a refund of capital gains tax which only one of them had actually paid.
01/17/2020
Carey Olsen continues as leading legal adviser to Guernsey's investment funds industry
The findings of Monterey Insight follow the publication of the latest Chambers UK and Legal 500 UK rankings at the end of last year
01/17/2020
Update approved for Guernsey insolvency law
Key developments include changes to voluntary winding up by company members
01/17/2020
EBA report on RTS on material risk takers
As to the weaknesses, the Report highlighted that although CAs typically follow a risk-based approach, some of them have some difficulties to distinguish their standard risk-based methods of supervision
01/17/2020
Slaughter and May bans ski trips after harassment claim
When the allegations were made, the elite Magic Circle firm was already carrying out a risk assessment on behaviour that included social events.
01/16/2020
OLYMPIC Banking System: successful completion of multi-location deployment at Andbank
The roll-out took place in two stages, initially for the Monaco entity and then subsequently for the Andorra, Luxembourg, Spain, Panamá and Insurance units, using a “Big Bang” approach.
01/16/2020
FCA and Bank of England encourage switch from LIBOR to SONIA for sterling interest rate swaps from Spring 2020
The market for SONIA derivatives is already well-established.
01/16/2020
Easy ‘hire and fire’ rules may harm economy, says Andy Haldane
Productivity, a measure of output per worker, is the key determinant of living standards, but it has stagnated since the financial crisis.