03/12/2019
Lack of buyers puts an end to UK’s Raphaels Bank
Despite its long history, UK-based private bank Raphaels will soon be history after failing to attract a buyer.
Legal, Regulation & Compliance
03/12/2019
Guernsey satisfies EU business substance requirements
This is a real endorsement of Guernsey as a co-operative jurisdiction and further indication of our ongoing commitment to meeting international standards.
03/12/2019
Ogier's global Dispute Resolution team to share offshore restructuring and cross-border insolvency expertise
The second panel will explore the use of court appointed receivers in offshore insolvency and asset recovery scenarios.
03/11/2019
UK’s fragmented anti-money laundering system needs re-ordering, warns Treasury Committee
The Government must ensure it does not bow to buccaneering deregulatory pressures and maintain its intentions to lead in the fight against economic crime.
03/11/2019
EU Exit: EPC approves UK PSPs participation in SEPA
The above-mentioned application from UK Finance was intended to address the latter scenario of a no deal Brexit and request the continued participation of the UK PSPs in the SEPA schemes.
03/11/2019
UK and US agree cooperation for derivatives clearing and trading after Brexit
Market participants can be assured of the continuity of derivatives trading and clearing activities between the UK and US, after the UK’s withdrawal from the EU, following this joint statement by the Bank of England including the Prudential Regulati
03/11/2019
Brexit fallout on UK finance intensifies: Think tank
New Financial identified 5,000 expected staff moves or local hires, a figure that is expected to rise in coming years.
03/11/2019
Ireland does well on shadow economy policy
They are compliant and make their returns to the taxman.
03/11/2019
Big banks including HSBC, Barclays and Bank of Ireland face £11bn bill for fuelling celebrity tax dodge schemes
In its annual report last month, HSBC admitted that the impact of legal claims against it, if successful, could be ‘significant’.
03/11/2019
European Commission To Create New AML Blacklist
All of the 28 member states voted to block the list from being made public last week.
03/11/2019
Magic Circle law firms launch gig economy-style offerings in uncertain legal market
The UK’s leading law firms are betting on the gig economy to boost their growth with Linklaters and Clifford Chance joining Allen & Overy in setting up networks of self-employed lawyers to provide to clients on a flexible basis.
03/11/2019
Frustration over Mifid and Priips nears boiling point
Frustration over Mifid and Priips nears boiling point
03/11/2019
Swedish Bank Exit Is Estonia’s ‘Ultimate Concern’ After Scandals
Money laundering allegations have put spotlight on the Baltics
03/10/2019
EU Exit: FCA FIRDS open for testing
We have built FCA FIRDS for firms and trading venues to submit this data. In a no-deal scenario, FCA FIRDS will replace the ESMA FIRDS system in the UK
03/10/2019
FCA to extend charges disclosure to contract-based pension schemes
Proposed rules requiring independent governance committees of contract-based pension schemes to disclose costs and charges to scheme members have been published by the Financial Conduct Authority.
03/10/2019
JTC granted Luxembourg professional depositary licence
The new licence also complements JTC’s non-EU solution
03/08/2019
UK investigators criticised over Qatar fundraising probe
Bankers laughed at suggestion Qatar’s premier would provide services to Barclays
03/08/2019
FCA warns consumers do not understand crypto assets
The FCA estimated only 3 per cent of those surveyed had ever bought cryptoassets and 73 per cent of UK consumers still do not know what a "cryptocurrency" or its definition is.
03/08/2019
Britain Crackdowns On Its Wealthy Money Launderers
The announcement comes barely a week after a data leek revealed how suspicious Russian money had flowed to the U.K. under a scheme dubbed the 'Troika Laundromat’.
03/08/2019
FCA reveals findings from first cryptoassets consumer research
The research includes qualitative interviews with UK consumers and a national survey.