07/18/2019
ESMA Reports on NCAS’ use of Sanctions Under MIFID II
ESMA will continue to publish an annual report with the information on sanctions and measures imposed including criminal sanctions.
Legal, Regulation & Compliance
07/18/2019
What you need to know about the mammoth EU-Mercosur trade pact
EU representatives made their motives clear in statements immediately following the negotiations.
07/18/2019
Women in Finance Charter
They are now over 330 firms of all shapes and sizes across financial services signed up to the commitments of the Charter
07/18/2019
UK, Dutch Authorities Bust €24 Million Cryptocurrency Theft
Six suspects allegedly used ‘typosquatting’ to target over 4,000 victims in 12 countries.
07/18/2019
Reflecting On Reflective Loss
On 13 June 2019 the Cayman Islands Court of Appeal gave judgment in Primeo Fund (In Official Liquidation) and Bank of Bermuda (Cayman) Limited, HSBC Securities Services (Luxembourg) SA
07/17/2019
Science and banknotes
Remarks given by Sarah John, Chief Cashier
07/17/2019
Finance sector backs British business women
The reaction from industry and the commitment that so many leading institutions have already shown towards the Code has been fantastic and encouraging, and this is just the beginning.
07/17/2019
M&G UK Property Fund shuts door on investors wanting cash
The fund is held by institutional investors including large pension schemes, some of which have decided to cut their exposure to property.
07/17/2019
G7 finance ministers look to rein in tech giants at French meeting
The issue has become more vexed than ever in recent days as Paris defied U.S. President Donald Trump last week by passing a tax on big digital firms’ revenues in France despite a threat from him to launch a probe that could lead to trade tariffs.
07/17/2019
Island Exchange Tied to Woodford Stood Up by U.K. Watchdog
The exchange previously outlined concerns to the U.K. regulator about the valuation of certain assets in Woodford’s flagship fund, days after the manager suspended investor redemptions.
07/17/2019
Enforcing security over Guernsey real property
The saisie begins with the Principal Creditor obtaining a PVO from the Royal Court, normally at the same time as the initial summons issued against the Debtor if he/she has not responded to the letter before action.
07/17/2019
LSB increases threshold of the Standards of Lending Practice for business customers
Taking note of concerns around debt sale, the Standards also include an enhanced level of LSB oversight in this area.
07/17/2019
ESMA Amends Enforcement Decisions for Nordic Banks Following Appeal
Based on this decision, ESMA decided that the only appropriate supervisory measure in the four banks’ cases were public notices regarding the banks’ infringements and that no fine will be imposed, in accordance with CRAR.
07/17/2019
EBA amends implementing technical standards on supervisory reporting with regard to financial information
These final draft ITS amending the European Commission's Implementing Regulation (EU) No 680/2014 on supervisory reporting with regard to FINREP aim to improve the reporting requirements on non-performing exposures and forbearance in order to strengt
07/17/2019
Regulator investigates phoenixing employers
A number of investigations are now ongoing in cases involving scores of employees who have been denied the pensions they are entitled to.
07/17/2019
Guernsey plays its part in OECD success against tax evasion
The FBI recently highlighted to American senators the “immense value” of Guernsey’s information sharing in helping to combat financial crime.
07/16/2019
Commercial Court adopts broad interpretation of investment bank fee clause in equity and debt finance raising
The dispute related to the construction of two key defined terms – the “Project” and the “Transaction” – both of which were criticised by the court for lacking clarity.
07/16/2019
ING’s Belgian Unit Fined for Money-Laundering Violations
ING Belgium was hit with the penalty on April 24, Julie Kerremans, a Brussels-based spokeswoman for the unit, said in an emailed statement on Sunday.
07/16/2019
Russia: 30 Fake Firms and 4 Billion Rubles Later, 10 Will Stand Trial
“Through these organizations, cash withdrawal of unaccounted money in circulation – ‘black cash’- was made and a large-scale income was extracted,” the ministry said.
07/16/2019
New EU leadership needs to pick up baton of fiscal union
Leadership will have to do more to secure economic and monetary union 2.0