10/11/2019
AllianceBernstein signs distribution agreement with Banca Generali to expand across Italy
Banca Generali will also distribute AB's Luxembourg domiciled funds through its open architecture platform.
Legal, Regulation & Compliance
10/11/2019
Suspect in Operation Dirty Oil moving €2.8 million to wife’s offshore company
Gordon Debono’s wife used Cypriot court to enforce two 2017 loan agreements for €2.8 million to trafficking suspect, using offshore companies
10/11/2019
Regulators Reject Qatar-Backed Deutsche Bank Board Member
Deutsche’s regulators - the European Central Bank and financial markets watchdog BaFin - have now determined that Zeltner’s position on Deutsche’s board would be a conflict of interest because he is also the chief executive officer of KB
10/11/2019
Ex-Barclays bosses worried about jail risk of £322m Qatar deal, court hears
Prosecutors claim defendants knew payments in fundraising operation may be illegal
10/11/2019
Netherlands Begins Consultation On Tax Blacklist
Furthermore, as from July 1, 2019, the Dutch tax authorities will no longer issue tax rulings to companies which are established in a listed jurisdiction.
10/11/2019
Whisky & Wealth Club Expands Into Scotch Whisky With Historic Distillery Partnership
The company’s first Scotch partnership is with 202-year-old Bladnoch Distillery situated in the Scottish Lowlands.
10/11/2019
Citi seeks ‘superstar’ bankers in bid to become number one in Europe
Citi wants to leapfrog rivals JPMorgan and Goldman in Europe and close the gap in its home US market, says London-based Manolo Falco
10/11/2019
FCA fines broker £15.4m for serious conduct failures
Following an FCA investigation, the FCA found that, between 2008 and 2010, Tullett Prebon’s Rates Division had ineffective controls around broker conduct.
10/10/2019
Deutsche Bank board member faces likely veto by regulators
ECB and BaFin raise conflict of interest concerns over Jürg Zeltner’s other job as KBL chief
10/10/2019
S&W begins process of recovering £1bn from failed DFM
Reyker provided custody and dealing services to around 15,000 retail and institutional clients.
10/10/2019
EU Looks to Tweak Method for Compiling Dirty-Money Blacklist
The EU is required under a pair of directives adopted by the bloc in recent years to identify countries that are susceptible to moving dirty money.
10/10/2019
Scottish law firm in merger with smaller player
Hardy Macphail has a mix of small and medium-sized enterprise and private clients.
10/10/2019
UK regulator mulls trustee board diversity reporting requirement
Data from the Pensions and Lifetime Savings Association (PLSA) from 2017 showed that 83% of private sector pension fund trustees were male.
10/10/2019
Dirty Money, Brexit’s High Noon
Questions remain about what the bloc should do about the many shortcomings that have been identified
10/10/2019
Ireland - Update – CBI Issues Prohibition Notice for Breach of the Fitness & Probity Regime
The Fitness and Probity regime requires individuals performing control functions in RFSPs to meet the CBI’s Fitness and Probity Standards.
10/10/2019
Escrow Agreements in Merger and Acquisition transactions – here’s what you need to know
Escrow arrangements help to minimise the counterparty risk of non-completion or failure to deliver for each of the parties.
10/10/2019
How Will Brexit Affect UK Fund Managers?
The UK Government has prepared draft statutory instruments under the European Union (Withdrawal) Act 2018 should the UK leave the EU on 31 October 2019 with “no-deal”.
10/10/2019
United Kingdom, European Union, and International Bodies
This is in addition to the £12.8m in compensation Serco paid to the Ministry of Justice as part of a £70m civil settlement in 2013.
10/10/2019
Anti-money laundering: Dos and Don'ts
In short, AMLRs require financial services providers (FSPs) engaging in relevant financial business to establish systems to detect things like money laundering and terrorist financing.
10/10/2019
Company accused of plagiarising IFA literature and investment firm accounts
Uses AIM company's stock ticker