10/17/2019
FCA moves to protect investors from 'greenwashing'
The watchdog said initial work on potential greenwashing in the sector had shown the "sustainable" label is applied to a "very wide" range of products
Legal, Regulation & Compliance
10/17/2019
HMRC loses inheritance tax case against Jersey trust
HMRC said if the trust was based in the UK and governed by UK law it would be exempt from inheritance tax, but as the trust Ms Coulter chose was Jersey-based it did not qualify for this exemption.
10/17/2019
The cost consequences of not expressly marking correspondence "Without prejudice"
The decision would be considered persuasive authority in other common law jurisdictions, such as the Cayman Islands and is not likely to be considered limited to arbitration but to apply in Court proceedings also.
10/17/2019
CySEC issues response to ESMA Opinion on national restrictions on CFDs
CySEC firmly believes its approach is justified and proportionate and will provide to the residents of the specific Member States the same level of protection afforded to them by the measures introduced by the NCA of their respective Member State.
10/17/2019
The impact of economic substance rules on family offices in the Channel Islands
The rules will only apply to family offices with Guernsey- or Jersey-based companies whose activities fall into one of the nine statutory categories ("relevant activities").
10/17/2019
Can Westminster Parliament legislate for Jersey without its consent?
The precise nature of those limits has never been fully tested and determined, and involves over eighthundred years of constitutional history.
10/17/2019
FCA targets climate change and green finance transparency with new guidelines
The Statement identifies a number of priorities, which will provide a foundation for the FCA’s future work on climate change and green finance.
10/17/2019
Economic Secretary speech on illicit finance
I believe the UK’s Economic Crime Plan gives us the basis to do just that
10/17/2019
Charity Commission releases report on whistle blowing disclosures made in 2018-2019
The top three subjects of disclosures concerned: safeguarding, governance and fraud/money laundering.
10/16/2019
UAE and Russia sign deals worth $1.3bn during Putin's Abu Dhabi visit
Deals focussed on energy, advanced technology and health sectors
10/16/2019
PrivatBank wins London appeal in lawsuit against ex-owners
PrivatBank’s lawsuit against the former owners alleges fraud that it says cost the bank hundreds of millions of dollars.
10/16/2019
High Court judge makes orders for residents to vacate three Dublin properties described as 'firetraps'
The risk to persons living in the what are four-storey 190-year-old buildings is so serious that their continued use for residential purposes should be prohibited until several serious fire safety deficiencies are addressed, DCC said.
10/16/2019
Germany probes Deutsche Bank’s role in Danske-Laundromat scandal
Still, Germany’s biggest lender did not disclose more than one million suspect money transfers with Danske Bank and not before February 2019.
10/16/2019
Brexit finance relocations limit need for future trade link - think tank
Britain’s finance ministry has been sounding out its financial sector ahead of the government’s negotiations with the EU on future trade after Brexit.
10/16/2019
Capital markets union: Council adopts new clearing house rules
The aim of the reform is to strengthen the supervision of CCPs
10/16/2019
Germany eyes emergency measures for Brexit market panic: source
Although no emergency measures have yet been triggered, the preparations underscore the continent’s heightened state of alert, with negotiations to secure Britain’s orderly departure from the European Union hanging in the balance.
10/16/2019
Machine learning in UK financial services
The majority of users apply their existing model risk management framework to ML applications.
10/16/2019
AFME: More work to be done to make Europe competitive
AFME found that Belgium, the Netherlands and Sweden were the leading EU nations in sustainable finance with over 7 percent of bonds issued in 2018 classified as sustainable.
10/16/2019
Trading in second Woodford fund suspended: administrator
He also resigned from the two other funds he managed
10/16/2019
The global war on money laundering is a failed experiment
The deeper problem isn’t that national anti-money laundering laws are being flouted.