11/05/2019
Watchdog warns UK fund managers to avoid Woodford liquidity trap
For funds, liquidity refers to the ease of selling assets, critical for those that offer daily cashbacks to investors.
Legal, Regulation & Compliance
11/05/2019
FCA letter on effective liquidity management for AFMs
Government and FCA response to Work and Pensions Committee report on pension costs and transparency
11/05/2019
English Commercial Court examines the duty of good faith and fair dealing in commercial contracts
The decision is an important one on the implied duty of good faith/fair dealing.
11/05/2019
Paying debts using a National Insurance Number or Birth Certificate
Advice on why you cannot pay debts using your Birth Certificate or National Insurance Number.
11/05/2019
ECB Needs Europe to Spend More — And Gets An Extra Bonus If It Does
Uncertainty over government borrowing is one reason central bankers can’t easily work out how long they have before QE runs into the ECB’s self-imposed limits on how much debt it can buy, according to a euro-area official involved in the discu
11/05/2019
UBS Has Four Weeks in June to Fight $5 Billion French Fine
The UBS case is part of a French crackdown on tax fraud and money laundering operated through Switzerland that’s seen the conviction of a former minister and HSBC Holdings Plc pay 300 million euros to settle a case.
11/05/2019
AIB signals job cuts amid 'challenging' European conditions
AIB said the negative interest rate environment is “very challenging” for the sector and manifested in a negative 11basis points impact on its third quarter NIM of 2.32pc, due to average Euro excess liquidity of around €4bn in the quarter
11/05/2019
HSBC Insurance UK to offer monthly subscription
Mark Hussein CEO of HSBC Insurance UK said: "'Select and Cover' will redefine the way our customers buy insurance.
11/04/2019
Malaysian fugitive financier holds Cyprus passport – report
According to Politis Low came to Cyprus in September 2015 and obtained the passport under the citizenship by investment scheme within two days after investing in some property in the Famagusta district.
11/04/2019
ECB denies report it is pressing Deutsche Bank's CEO to split role
The FT had written that the ECB was concerned that Sewing's twin responsibilities could undermine the group’s radical restructuring and posed a potential conflict of interest.
11/04/2019
Knights scoop up Birmingham law firm for £4.7 million
The acquisition will bring an additional 28 fee earners to the Group.
11/04/2019
Court thwarts bid to stop Satabank €1.5m release to 'dirty oil' suspect
Oil-smuggling suspect Gordon Debono has offshore companies with an account at Satabank, the monies of which have been frozen since the bank went under controllership
11/01/2019
European Supervisors Outline Financial Sector’s AML Weak Spots
Virtual currencies also present risks as they facilitate anonymity and they are inconsistently regulated across the EU.
11/01/2019
FATF Issues Draft Guidance on Digital Identity Systems
It also provides guidance for government, regulated entities and other relevant parties on how to apply a risk-based approach to using digital ID systems for customer identification and verification consistent with the FATF Recommendation 10.
11/01/2019
Deutsche Bank Reported Its Own Russian Deal as Suspicious
After the sale went through, Deutsche Bank officials in the United States took the rare step of contacting the federal watchdog that polices financial crimes to report the bank’s own transaction as suspicious, according to three people briefed on th
11/01/2019
UK lawmakers want bank payments ‘speed bump’ to stop scammers
To transfer money at Britain’s major lenders, the name of the recipient account holder must be confirmed by the receiving bank to stop fraudsters from diverting money.
11/01/2019
Gambling Commission CEO: Malta operators must improve compliance standards
A further 14 were the subject of enforcement investigations, while seven operators have paid £18m ($23.2m) in penalty packages and five have surrendered their licenses.
11/01/2019
CySEC adopts FATF’s Guidance on Terrorist Financing Risk Assessment
The Guidance provides best-practice approaches, relevant information sources and practical examples for regulated entities to consider when assessing terrorist financing risk on a country-by-country basis.
11/01/2019
ECB speech on the European Banking Union
Speech by Andrea Enria, Chair of the Supervisory Board of the ECB, at a dinner of the Centre for European Reform
11/01/2019
OECD guidance on due diligence for responsible corporate lending and securities underwriting
Broadly recognised environmental and social standards have previously not existed for corporate lending and underwriting transactions, although they represent the vast majority of banking finance activity.