06/07/2019
FCA near final and final securitisation rules
The BoE will be releasing a report shortly on these issues.
Legal, Regulation & Compliance
06/07/2019
TISE clarification of FCA statement re LF Woodford Equity Income Fund
The International Stock Exchange Group and its subsidiary The International Stock Exchange Authority, wish to ensure that there is no lack of clarity in this situation.
06/07/2019
Pull, Push, Pipes: Sustainable Capital Flows for a New World Order
Speech given by Mark Carney Governor of the Bank of England
06/07/2019
CMCs with poor success rates could see permissions revoked
Jonathan Davidson, director of supervision of retail and authorisations, said the FCA was aware of an increase in cases where CMCs submitted claims in the names of "fictitious" customers or acted on behalf of a consumer without consent or letter
06/07/2019
EU reviews Deutsche Bank, SocGen in screening of past money-laundering cases
Under the plan, the European Commission is assessing cases between 2012 and 2018 with the aim of producing a report this summer that identifies the factors that contributed to the banks’ failure in preventing financial crime.
06/07/2019
Guernsey Stock Exchange disputes FCA account over Woodford
The International Stock Exchange Authority only has a remit for certain securities listed on TISE where the LF Woodford Equity Income Fund is an investor.
06/07/2019
Conduct, risk and the implications of SMCR for fund managers
The SMCR, while implemented by the UK regulator, is borderless
06/07/2019
National advisory firm reacts to findings of HMRC Review into High Income Child Benefit Charge
Recent HMRC research has revealed that many parents affected by the Child Benefit High income Charge do not understand it
06/06/2019
FSB publishes report on market fragmentation
The report looks at some examples of financial activities where supervisory practices andregulatory policies may give rise to market fragmentation.
06/06/2019
FCA and PRA joint statement on LIBOR transition
The purpose of these letters was to seek assurance that firms’ senior managers and relevant governance committee(s) understand the risks associated with this transition
06/06/2019
Managing Machines: the governance of artificial intelligence by James Proudman
It is certainly not the role of the regulator to stand in the way of progress.
06/06/2019
Pragmatic Solutions for Sensitive Trusts
In its reasoning, the Court explained that the trust had been administered under the supervision of the Court for some 20 years
06/06/2019
From Innovation Hub to Innovation Culture by Nick Cook, FCA
Speech by Nick Cook, Director of Innovation at the FCA, delivered at the 6th Central Bank Executive Summit
06/06/2019
Operational resilience in financial services: time to act' report launch - Speech by Lyndon Nelson
We have seen that operational failures can happen and unless something dramatically changes we can expect them to happen again.
06/06/2019
Last orders: Calling time on LIBOR - speech by Dave Ramsden
Libor prices in fluctuations in the perceived credit quality of banks, whereas for many users, alternative risk free reference rates are better reflections of the general level of interest rates.
06/06/2019
Carey Olsen advises Realty in acquisition of 12 Sainsbury's superstores
Lawyers from Carey Olsen's corporate team in Jersey have advised Realty Income Corporation (Realty) on the acquisition of 12 Sainsbury's superstores from British Land.
06/06/2019
Former Kaupthing Luxembourg CEO Gets ECHR Justification
The four bankers claim that the Supreme Court in Iceland had not been impartial on account of the positions held by family members of one of its judges and that they had not been granted access to all of the prosecutor’s documentation.
06/06/2019
Swiss regulator to fine banks over currency manipulation
Credit Suisse is currently fighting the allegations. UBS blew the whistle on the other banks, avoiding the fine.
06/06/2019
Bankers’ bonuses should be reintroduced, Central Bank says
Ex-governor Philip Lane tells Minister that ‘variable pay’ is vital to retain critical staff
06/06/2019
Banks Fined $91 Million Over FX as Essex Express Rides Again
UBS Group AG avoided a fine because it helped reveal the existence of the cartel.