07/23/2019
Lloyds and Standard Life Aberdeen to settle £100bn funds row
Lloyds and Standard Life Aberdeen to settle £100bn funds row
Legal, Regulation & Compliance
07/23/2019
Speculation mounts over potential job cuts at UniCredit
The drastic measure, which would mean a 10 per cent cut to its global workforce, marks the latest cost-cutting drive from Europe’s embattled banking sector, which has been battered by lower interest rates and rising volatility.
07/23/2019
ESMA publishes its annual peer review report on EU CCPs supervision test
The report also identifies several best practices and considerations to further enhance supervisory convergence with respect to CCPs’ collateral and liquidity arrangements.
07/23/2019
European Central Bank could act before Fed to add stimulus
The negative rate means banks pay to keep cash overnight at the ECB, a penalty aimed at pushing them to lend the money.
07/23/2019
Alternatives to high-cost credit
Our report sets out actions and recommendations to improve the availability and awareness of alternatives to high-cost credit.
07/23/2019
Ogier advises on the launch of Medicxi III
This brings the total amount raised by Medicxi in the last three years to over $1 billion.
07/23/2019
AML Expenses Eat Into Nordic Lenders’ Profits
“I am not in a position, and I don’t think any other CEO of any bank would be in a position, to say that everything looks dandy today,” said Anders Karlsson, acting president and CEO of Swedbank
07/23/2019
UK's financial watchdog fines Standard Life Assurance £30.8 million
SLAL did not dispute the FCA’s findings.
07/23/2019
Trusts to be kept out of UK's new beneficial ownership register
The risk of criminals exploiting UK trusts to launder money is assessed to be low
07/23/2019
Migrating to Guernsey - a jurisdiction of quality and substance
Guernsey has always operated with the infrastructure necessary to support substance.
07/23/2019
Impact of ECJ ‘Danish cases’ on tax treatment of holding companies
The recently announced amendments will place extra responsibility on the directors of the Dutch entity.
07/23/2019
Fund managers win one-year delay on collateral rules
'Numerous' companies that are behind on preparations for the new requirements now have extra time to get ready
07/23/2019
UK government rejects call to put trusts in explicit scope of property ownership register
It claims that the draft Bill already captures circumstances in which an overseas entity is being used by a trust to hold land in the UK, in that the trustees of a trust, if exercising significant influence or control over the overseas entity, must provid
07/23/2019
Pay at London’s ‘magic circle’ lawyers hits new record
Demand for advice on regulatory fallout from Brexit helps top firms
07/22/2019
Pension scams cost Brits £4billion a year and are expected to be ‘the next big financial scandal’
In one case a former army veteran handed over £34,000 to invest in truffle-free farms that were never cultivated.
07/22/2019
Golden visa scandal: It’s £2m to live here. The Home Office won’t look into your past
Wily middlemen are helping rich foreigners to gain British residency without revealing the full source of their wealth
07/22/2019
UK Parliamentary Committee Questions StanChart's Remuneration Policy
Some 36% of StanChart's shareholders voted against the bank's 2019 directors' remuneration report at its annual shareholder meeting in London
07/22/2019
CSSF on mandatory notifications in a no-deal Brexit context
This means they shall no longer benefit from the relevant passporting regime and, as a result, will not be able provide their services in Luxembourg without authorisation by the CSSF.
07/22/2019
The FCA and its labyrinthine rulebook need a serious shake-up
Slow, inefficient and high-handed are all epithets flung at the UK financial watchdog
07/22/2019
Economic substance laws: the private wealth context
Although the article refers specifically to Jersey, the comments are directly applicable to Guernsey and the general principles can also be applied in relation to BVI and Cayman structures (albeit with some different nuances).