08/15/2019
Bank Records Link President of Cyprus to ‘Troika Laundromat’
Two of those shells — Batherm Ventures Ltd. and Matias Co Ltd. — appear to be deeply entwined with the Troika Laundromat
Legal, Regulation & Compliance
08/15/2019
Court of Appeal: Financial Loss Claims Statute Barred
Given the above findings, Mr. Justice Haughton found that it was unnecessary to determine whether the investors were entitled to rely on an allegation of fraud in relation to the alleged non-disclosure of the LTV covenants, which would have the effect of
08/15/2019
NCA freezes £100m suspected to be from corruption overseas
Court orders cover eight bank accounts linked to individual who has already had £20m frozen
08/14/2019
Damages for wrongful dismissal in the Royal Court of Jersey
The judgment, Alwitry v The States Employment Board, potentially has very significant implications for Jersey employers – although it should be noted that it is currently being appealed.
08/14/2019
Luxembourg pushes DAC6 legislation forward by laying out mandatory disclosure guidelines for tax harmful cross-border arrangements
DAC6 concerns all EU member states and must be enacted by 31st December 2019
08/14/2019
Court Refuses to Thaw Banks's Decision to Freeze
The decision serves to remind financial institutions of the importance of the terms and conditions that they have in place with their clients
08/14/2019
SRB and European Commission sign Memorandum of Understanding
The MoU spells out the working methods between the SRB and the Commission in line with the Single Resolution Mechanism (SRM) legal framework.
08/14/2019
Charities, data protection officers, GDPR: where are we now?
The GDPR aimed to make organisations accountable for data protection and imposed a requirement on those organisations to demonstrate compliance.
08/14/2019
EU Members Adopt Tougher Crypto Rules Than AML Directive Requires
German Regulations Chase Out Crypto Companies Like Bitpay
08/14/2019
FCA agrees plan for a phased implementation of Strong Customer Authentication
The plan reflects the recent opinion of the European Banking Authority (EBA) which set out that more time was needed to implement SCA given the complexity of the requirements, a lack of preparedness and the potential for a significant impact on consumers.
08/14/2019
Sipp provider Berkeley Burke set to pay £1m over unregulated investments
I cannot know, but if that is Berkeley Burke’s situation, it’s possible that the firm may slip into insolvency in light of the £1m costs order it now faces"
08/14/2019
Corporate blackmail: one way in which victims can take back control
The modus operandi of the corporate blackmailer is to obtain information
08/14/2019
Harneys Cyprus advises on US$300 million sale of global depository receipts
Harneys Partner Nancy Erotocritou led the team with assistance from Senior Associate Valentina Hadjisoteriou and Associate Elina Mantrali.
08/14/2019
Another case study in pragmatism by the Jersey court in assisting liquidators in the conduct of the winding up of a Jersey company
Directions were sought from the Royal Court to allow the assets to be appointed to Her Majesty's Receiver General (HMRG) in order to facilitate an orderly winding-up and dissolution of AMJE.
08/14/2019
Aaron & Partners’ Wills, Trusts and Tax Partner recognised in coveted industry guide
A lawyer from the Wills, Trusts and Tax team at Shrewsbury legal firm Aaron & Partners has earned national recognition for her work with private clients.
08/13/2019
Heir-hunting for Irish links to deceased diaspora on the rise
More than 500 estates of Irish people waiting to be claimed from UK authorities
08/13/2019
$500 Billion in Dividends out of the Double Irish with a Dutch twist (with a bit of Help from Bermuda)
The offshore profits of a lot of U.S. companies were, so to speak, summering in Ireland and wintering in Bermuda.*
08/13/2019
Central Bank Highlights Liquidity Management Obligations
This is in the context of the CBI's continuing engagement with industry on Brexit preparedness, and it stated it will have regard to the Letter as part of its future supervisory engagements.
08/12/2019
Billion-dollar bond scandal hits Goldman Sachs
It’s a taste of the latest scandal to blacken the name of Goldman Sachs.
08/12/2019
Does the reliance of principal trading firms on banks pose a risk to UK financial stability?
The purpose of Bank Overground is to share our internal analysis. Each bite-sized post summarises a piece of analysis that supported a policy or operational decision.