07/24/2019
OCC Fines Ex-Rabobank Counsel $50,000 for Concealing AML Report
On February 7, 2018, the Bank pled guilty to conspiracy
Legal, Regulation & Compliance
07/24/2019
Deutsche Bank 'committed to cooperating' with investigators after reportedly flagging Jeffrey Epstein transactions
The bank attempted to close several dozen bank accounts for Epstein and his businesses while simultaneously looking for signs that he had used his money to finance sex trafficking schemes, which prosecutors allege involved underage girls, according to rep
07/24/2019
Transatlantic law firm boosts presence in Leeds with acquisition
This recruitment news follows on from expansion in the firm's IP offering
07/24/2019
Government to set up standards committee to scrutinise HMRC powers
HMRC is to be put under greater scrutiny, with a new professional standards committee to oversee its use of wide-ranging powers to tackle tax avoidance and evasion
07/24/2019
German Regulator Greenlights $280 Million Ethereum Real Estate Bond
German authorities also showed openness towards blockchain and cryptocurrency.
07/24/2019
Update on the Isle of Man Personal Injury Discount Rate
Despite the 2017 change in England and Wales, no change was made to the discount rate in so far as it applied to Isle of Man cases.
07/24/2019
European banks, states have serious dirty-money shortcomings- EU Commission
The review also included lenders that have been shut because of money-laundering issues
07/23/2019
Lloyds and Standard Life Aberdeen to settle £100bn funds row
Lloyds and Standard Life Aberdeen to settle £100bn funds row
07/23/2019
Speculation mounts over potential job cuts at UniCredit
The drastic measure, which would mean a 10 per cent cut to its global workforce, marks the latest cost-cutting drive from Europe’s embattled banking sector, which has been battered by lower interest rates and rising volatility.
07/23/2019
ESMA publishes its annual peer review report on EU CCPs supervision test
The report also identifies several best practices and considerations to further enhance supervisory convergence with respect to CCPs’ collateral and liquidity arrangements.
07/23/2019
European Central Bank could act before Fed to add stimulus
The negative rate means banks pay to keep cash overnight at the ECB, a penalty aimed at pushing them to lend the money.
07/23/2019
Alternatives to high-cost credit
Our report sets out actions and recommendations to improve the availability and awareness of alternatives to high-cost credit.
07/23/2019
Ogier advises on the launch of Medicxi III
This brings the total amount raised by Medicxi in the last three years to over $1 billion.
07/23/2019
AML Expenses Eat Into Nordic Lenders’ Profits
“I am not in a position, and I don’t think any other CEO of any bank would be in a position, to say that everything looks dandy today,” said Anders Karlsson, acting president and CEO of Swedbank
07/23/2019
UK's financial watchdog fines Standard Life Assurance £30.8 million
SLAL did not dispute the FCA’s findings.
07/23/2019
Trusts to be kept out of UK's new beneficial ownership register
The risk of criminals exploiting UK trusts to launder money is assessed to be low
07/23/2019
Migrating to Guernsey - a jurisdiction of quality and substance
Guernsey has always operated with the infrastructure necessary to support substance.
07/23/2019
Impact of ECJ ‘Danish cases’ on tax treatment of holding companies
The recently announced amendments will place extra responsibility on the directors of the Dutch entity.
07/23/2019
Fund managers win one-year delay on collateral rules
'Numerous' companies that are behind on preparations for the new requirements now have extra time to get ready
07/23/2019
UK government rejects call to put trusts in explicit scope of property ownership register
It claims that the draft Bill already captures circumstances in which an overseas entity is being used by a trust to hold land in the UK, in that the trustees of a trust, if exercising significant influence or control over the overseas entity, must provid