06/03/2019
Inter-generational wealth transfer in the Millennial age
The role of their advisers is to understand the extent of the estate, where all the assets are, and any complexities or unusual arrangements.
Legal, Regulation & Compliance
06/03/2019
European banking regulator worried about MFSA supervision
FIAU providing ‘regular updates’
06/03/2019
Appleby Nominated for Offshore Law Firm of the Year
Appleby have acted in a number of landmark and high profile decisions over the past year in their courts
06/03/2019
Danske Bank to sell Estonian private loans unit to LHV in US$458 million deal
Danske Bank, which has been embroiled in a major money laundering scandal, has agreed to sell its portfolio of Estonian private loans to LHV Pank in a deal worth 410 million euros (US$458.3 million), LHV said on Monday.
05/31/2019
Nigerians, Others Launder £100bn Dirty Money In UK Annually
National Crime Agency (NCA) disclosed obtained the Unexplained Wealth Orders (UWO) at London’s High Court for three houses in prime locations in the British capital which had been bought for more than 80 million pounds and were held by offshore comp
05/31/2019
A restructuring revolution? The EU Restructuring Directive
The effectiveness of the Directive therefore depends on the way it is enacted by each Member State.
05/31/2019
Luxembourg imposes reporting requirements regarding blacklisted countries
The file should be kept at the registered office of the company and must be made available on request to the tax authorities as part of a review of the tax return or an on-site inspection.
05/31/2019
FSB publishes peer review of implementation of the Legal Entity Identifier
The regulatory uses of the LEI are multiple and the benefits can be substantial.
05/31/2019
Raphaels Bank fined £1.89m for outsourcing failings
Raphaels failed to have adequate processes to enable it to understand and assess the business continuity and disaster recovery arrangements of its outsourced service providers
05/31/2019
LV and L&G offload GI businesses
The transaction will close on December 31, 2019
05/31/2019
FSCS edges closer to compensating mini-bond investors
The scheme stated: "Following our investigations, we now understand London Capital & Finance’s business practices much better, and we believe there are sufficient grounds for us to carry on exploring these issues.
05/30/2019
Advisers told to warn clients of Help to Buy crunch
This means buyers only need a 5 per cent cash deposit and a 75 per cent mortgage to make up the rest. In London the government loan even amounts to 40 per cent.
05/30/2019
Iress launches XPlan upgrade to save advisers' time
"Advisers work with one set of documents, one set of compliance rules and one client file record ensuring consistent and accurate advice at all times."
05/30/2019
FSCS receives £6m claims against jailed brothers
The FSCS told FTAdviser it had received 229 claims against the brother's advice arm Taylor & Taylor Associates, totalling £5.5m.
05/30/2019
Brexit 'shadow of uncertainty' costs City 'world's financial hub' status
London is no longer perceived as the world's preeminent financial centre by global professionals, the majority of whom now see New York as the world's financial hub, with Brexit uncertainty weighing heavily on perceptions of the UK capital'
05/30/2019
Santander launches 10-year fix
It has also unveiled rate reductions of up to 0.20 percentage points across seven of its two-year and five-year fixed rate products, with LTVs ranging from 85-95 per cent.
05/30/2019
NCA secures Unexplained Wealth Orders for prime London property worth tens of millions
The London property is linked to a politically exposed person believed to be involved in serious crime.
05/30/2019
New framework for funds recognition established by Dutch and Hong Kong regulators
“The new arrangements will lead to smoother operations in areas such as information exchange, regulatory cooperation and ultimately the authorisation of funds,” said ZEDRA Hong Kong Managing Director, John Ashwood.
05/30/2019
UK Financial Conduct Authority Identifies Significant Shortcomings in Firms Operating Appointed Representative Platforms
The FCA identified significant shortcomings by principal firms as to how they understood and complied with their regulatory responsibilities in respect of their ARs.
05/30/2019
ICOs and Digital Assets: A New and Optional Legal Regime in France
This new initiative follows Italy, which enacted in early February 2019 a set of rules establishing an overarching legal foundation for the validity and enforceability of distributed ledger technologies and smart contracts.