08/02/2019
KPMG U.K. Fines Top $16 Million in 2019 Amid Industry Crackdown
The fine brings the total amount of U.K. penalties the accounting firm has faced in 2019 to at least 13.5 million pounds amid widespread criticism of the industry.
Legal, Regulation & Compliance
08/02/2019
Leading offshore law firm shortlisted as ‘Law Firm of the Year’
The Citywealth IFC awards aim to highlight the excellence of advisers and managers in the private wealth sector in major international financial centres.
08/02/2019
Senior Managers and Certification Regime: solo-regulated firms
This extension affects almost every solo-regulated firm, from very small firms (including sole traders and limited permission consumer credit firms) to some of the largest global firms.
08/02/2019
FRC fines rocket 276% to £42.9m in 2018/19
The Review sets out the robust and proportionate Enforcement action taken in the past year
08/02/2019
Market conduct and transaction reporting issues
What proactive steps do you take as a firm to identify the conduct risks inherent within your business?
08/01/2019
Judge rules in favour of adviser network in 'Ponzi' case
The judgement comes after in November a court had already ruled in favour of Sense and against 95 claimants who were clients of Alistair Greig, the owner of Midas Financial Solutions (Scotland) Ltd and an appointed representative of Sense.
08/01/2019
Invest nationally outside Dublin - We need to balance the economy
The Central Bank has warned of major job losses across the economy, in the event of a no-deal Brexit.
08/01/2019
Draft technical standards on the content and format of STS notifications under the onshored Securitisation Regulation
This is the first consultation paper setting out our proposed technical standards for the onshored Securitisation Regulation.
08/01/2019
British art dealer jailed in US over £25 million fraud
Sammons pled guilty on July 2 to 15 counts of grand larceny and fraud
07/31/2019
Top German court OKs EU 'banking union'
In 2013, Germany and other eurozone countries handed oversight of more than 100 "significant" banks in the single currency area to the ECB, in a new arm known as the Single Supervisory Mechanism (SSM).
07/31/2019
Legal & General strikes savings account deal with Raisin
The UK investment giant signs its first fintech partnership.
07/31/2019
The new breed of international family
The situation in Guernsey is no exception, where we’re experiencing a marked shift away from our past UK-centricity.
07/31/2019
Commercial Court considers contractual discretion of bank to close customer account without notice where there is suspicion of money laundering
This is a perennial debate, and the recent Law Commission consultation on reform of the SARS
07/31/2019
Bright prospects: Ratings agency Fitch upgrades it’s Malta rating to ‘positive’
Over the years that have followed it built up a solid reputation for being an agile, advantageous and practical country in which to do business in sectors that include additional to financial services, gambling and gaming as well as fund administration
07/31/2019
German law targets money laundering in property market
The legislation will expand the number of professional groups required to report suspicious deals and take precautions to prevent laundering.
07/31/2019
FCA Finalizes Guidance on Types of Cryptoassets It Will Regulate
This includes making the important distinction as to which cryptoassets fall inside the regulatory perimeter clearer.
07/31/2019
The PRA’s Approach to Enforcement by Miles Bake
Speech given by Miles Bake, Head of Legal, Enforcement & Litigation Division
07/31/2019
Commission sets out its equivalence policy with non-EU countries
Our equivalence policy has proven effective so far, and we now have even better rules in place to meet our objectives of preserving financial stability while promoting international integration of EU financial markets.”
07/30/2019
Spain’s second-largest bank charged with corruption
Spanish media reported that BBVA had hired Villarejo’s firm Cenyt to investigate officials belonging to the construction company Sacyr, as part of BBVA’s efforts to stop a Sacyr’s unsuccessful bid to take over the bank in 2004.
07/30/2019
Bank of England and PRA finalise the Resolvability Assessment Framework
Resolution is the process by which authorities intervene to manage the failure of a bank in an orderly way.