09/04/2019
Money sender fined record £7.8 million in money laundering crackdown
A business that breached money laundering regulations has been hit with a record fine by HMRC.
Legal, Regulation & Compliance
09/04/2019
Spending Round 2019: what you need to know
The Chancellor has delivered his Spending Round to Parliament – here's a summary of what was announced.
09/03/2019
ESMA Strengthens Liquidity Stress Tests for Investment Funds
The Guidelines will become applicable on 30 September 2020.
09/03/2019
Operational implications of a “no-deal Brexit” on SCT and SDD transactions
From the payments perspective, in case of a “no-deal Brexit”, as of 1 November 2019 the UK will have to be considered as a non-European Economic Area country like currently Andorra, Guernsey, Isle of Man, Jersey, Monaco, San Marino, Switzerlan
09/03/2019
State pension increases for British retirees in the EU at risk in the event of no-deal Brexit
The government will only guarantee pension increases for the next three years if Britain leaves the EU without a deal
09/03/2019
Scam alert: fraudsters exploit new online security checks with phishing attacks
New rules designed to make you safer online could be putting you at risk
09/03/2019
US official: Cyprus on right track in money laundering fight
Rep. Maxine Waters, who chairs the House Financial Services Committee, says that US-Cyprus cooperation in tackling money laundering “is beginning to pay off.”
09/03/2019
Length of UK Prison Terms for Money Launderers at Record High in 2018: Report
The Sentencing Council guidelines have been tougher in part because of their emphasis on the impact that financial crimes have on victims, including any related distress, inconvenience or monetary loss.
09/03/2019
Russian court orders seizure of stake in bank in dispute with Baring Vostok
Vostochny Bank had requested the seizure of more than 334 billion shares held by a firm controlled by Baring Vostok, documents from the arbitration court of Russia’s far eastern Amur region said.
09/03/2019
Law firms ignorant of money-laundering risks
Despite this law firms were judged to be the least at risk of being a money-laundering target, in the survey of 204 senior compliance, finance and legal executives working in regulated industries including the banking, legal, property and gaming sectors.
09/02/2019
Taxpayer victory in UK corporate residence case
The three Jersey companies each held five board meetings in Jersey between 11 June and 20 July 2004.
09/02/2019
Enhancing Jersey's Philantrophic Wealth Structures
Jersey is a stable, tax neutral jurisdiction with a highly regarded regulatory regime, flexible and innovative legislation and experienced professionals making it an ideal jurisdiction for both charitable and philanthropic structures.
09/02/2019
Ogier advises Usiminas on the listing of US$750 million notes on Luxembourg Stock Exchange
Ogier's work included the review of documentation from a Luxembourg perspective
09/01/2019
Kleinwort courts young mums in hiring drive
Kleinwort Hambros has launched a career returners programme, in a bid to attract professionals who have had a career break of two or more years.
08/30/2019
The temporary permissions regime for inbound passporting EEA firms and funds
The temporary permissions regime will enable relevant firms and funds which passport into the UK to continue operating in the UK if the passporting regime falls away abruptly when the UK leaves the EU.
08/30/2019
ECB Warns Banks On Public Cloud Data Security As Hackers Circle
The Capital One hack in the US came after Amazon’s operations were looked at by the Fed, so the financial industry worldwide can expect to be under even greater scrutiny.
08/30/2019
Luxembourg register of beneficial owners – deadline extended until 30 November 2019
Registrations made up to the new deadline will remain free of charge.
08/30/2019
Privacy fears slow spread of UK-style data-sharing to combat money laundering
Legal hurdles await race for European equivalents to UK AML partnership between banks and police.
08/30/2019
Suptech Presents New Opportunities and Challenges for AML Authorities: BIS
The benefits of such tools are likely to prove “particularly important for jurisdictions that have been heavily impacted by the unintended consequences” of international standards on combatting money laundering and terrorist financing
08/30/2019
Thousands of charities to be hit with a new layer of anti-money laundering regulation
There are various rights of access to data, including anyone demonstrating they have a legitimate interest in accessing it.