07/11/2019
ECA report on EU-wide stress tests for banks
The 2018 stress test imposed less severe adverse scenarios in countries with weaker economies and more vulnerable financial systems.
Legal, Regulation & Compliance
07/11/2019
Unauthorised firm and directors to pay restitution to consumers
The schemes purported to involve the online purchase of wholesale goods from China for onward sale and promised unrealistically high returns, in some cases up to 100% of the amount invested.
07/11/2019
Societe Generale sued for $792 million by heirs of Cuban bank seized by Castro
The lawsuit was filed eight months after Societe Generale agreed to pay $1.34 billion
07/11/2019
Leading offshore law firm shortlisted for three awards at the Responsible Business Awards
Appleby has a long history of contributing to the local community. At the heart of the firm’s Corporate Social Responsibility strategy in the Isle of Man, is a theme centred on youth, education and sport.
07/10/2019
Ardan International scraps minimum fee under pricing schedule review
"This is great news for our customers and advisers. Our proposition is designed to be transparent, simple to use and provide the best value for money to our customers. This new pricing schedule is easier to understand and will drive down even further
07/10/2019
Serious Fraud Office charges ex-forestry investment firm boss
He is accused of committing nine offences and was arrested at Heathrow Airport
07/10/2019
FCA admits it has further to go on diversity
The FCA also published its ethnicity pay gap for the first time in the hope transparency could "drive positive action".
07/10/2019
Bailey faces bonus cut over mini-bond debacle
Mr Bailey has already received £27,200 of his bonus
07/10/2019
HMRC recovers £1.5m in money laundering crackdown
The investigation was part of HMRC’s broader efforts to tackle money laundering in the UK.
07/10/2019
Appleby Partners Recognised by Best Lawyers in 2019 UK List
Appleby partners Michael O’Connell and Simon Harding have both received recognition from Best Lawyers in their most recent UK List.
07/10/2019
UK Regulator Discloses Money Laundering Probe into Eight Charities
Earlier this month, Edward Cohen of London was sentenced to nearly 10 years in prison for benefit fraud, theft-related offences and money laundering linked to Chabad UK and the seven other charities cited by the commission on Tuesday.
07/10/2019
Offshore law firm provides Jersey advice to Petropavlovsk
Appleby assisted with the obtaining of regulatory approvals from the Jersey Financial Services Commission relating to amendments to the terms and conditions of the existing convertible bonds and the issue of the new convertible bonds.
07/10/2019
Guernsey focusing on family offices
The Policy Framework, therefore, rightly recognises that the island’s experience of providing more than 50 years of sophisticated and discrete services of unrivalled breadth and depth across fiduciary, funds and wealth management
07/10/2019
FCA annual reports for 2018/19
The Annual Report displays the breadth of our work in the past year
07/10/2019
ESAs publish recommendations on the supervision of retail financial services provided across borders
The Report concludes with recommendations addressed to the European Commission, Council and Parliament, proposing to amend existing, or develop new, legislation to facilitate the deepening of the single market.
07/09/2019
Banks' Liability for Fraud on Costumers by Third Parties
The sole purpose of the account, which was a type of escrow account, was to hold the settlement funds that would eventually be paid by the Customer to those entitled under the settlement.
07/09/2019
Inheritance tax lifetime gifts
Lifetime gifts are generally disregarded for IHT purposes if the donor survives seven years from the date of gift.
07/09/2019
Deloitte CFO Survey: Political and economic uncertainty compounds Brexit fears
Brexit has not happened, but it is acting as a drag on corporate sentiment and spending.
07/09/2019
Luxembourg Register Of Beneficial Owners - D-2 Months !
Luxembourg existing entities now have until 1 September 2019 (at the latest!) to compile their Internal File on BOs and to register the relevant information with the RBE.
07/09/2019
EBA assesses impact of FinTech on payment institutions' and e-money institutions' business models
The Report aims to share knowledge and provide support to supervisors and other stakeholders in identifying and understanding the main trends that could impact PIs' and EMIs' business models and pose potential challenges to their sustainability.