05/17/2019
BoE speech on macroprudential policy
Speech given by Donald Kohn, Member of the Financial Policy Committee
Legal, Regulation & Compliance
05/17/2019
Investec reveals impact of robo-advice closure
The company has now confirmed an estimated 50 staff will be impacted by the closure
05/17/2019
Wealth management boss jailed for a decade over £14.5 Ponzi fraud handed FCA final notice
David ran a legitimate HBFS business parallel with his fraud, in which he convinced investors, some of which he knew personally as friends, that their funds were held in high-interest bank accounts offering between four and eight per cent annual interest.
05/17/2019
Firm involved in £17m fraud declared in default
Between 2008 and 2015 the brothers fraudulently produced client records and misrepresented documents
05/16/2019
Deutsche doubles financial crime fighters to head off future scandals
Germany’s largest bank has been beset by legal troubles in recent years — and has warned they are not over yet
05/16/2019
UK will not impose deadline on OTs to change residency rules
In the Cayman Islands, premier Alden McLaughlin said the suggestion was "akin to an attempt to take over the territory.
05/16/2019
Similarity of phones in alleged UBS insider trading case a ‘coincidence’
Former compliance officer says day-trader friend provided mobile phone to keep in touch
05/16/2019
HMRC toughens position on use of offshore trusts to avoid tax
HMRC is cracking down on the use of disguised remuneration and contractor loans after winning two tax avoidance cases at the tax tribunal over use of offshore trusts to avoid tax and NICs
05/16/2019
The IoF updates its GDPR guidance – what's changed?
The focus of the guidance remains on how charities decide on which lawful basis of processing personal data they should rely on in a particular situation.
05/16/2019
Stylish regulation - speech by Sam Woods
Speech given by Sam Woods, Deputy Governor for Prudential Regulation and Chief Executive Officer, Prudential Regulation Authority
05/16/2019
Biggest Swedish Bank Says Baltic Business Not Worth the Cost
Swedbank, which dominates financial markets in the Baltics, is fielding allegations it may have handled over $100 billion in potentially suspicious flows.
05/16/2019
Hong Kong, Netherlands Sign Mutual Recognition of Funds Agreement
"This new framework with the AFM will open up opportunities for the asset management industries in both markets and provide investors in Hong Kong and the Netherlands with more investment choices.
05/16/2019
Eversheds Sutherland wins Product Team of the Year at Real IT Awards 2019
The Eversheds Sutherland Team developed a Case Management Information System, REfocus, enabling clients and lawyers to interact, review and manage deals and transactions through its cloud-based portal, a market-first for real estate lawyers.
05/15/2019
Model use and misuse - speech by David Rule
Given at the Association for British Insurer's Prudential Regulation Seminar 2019
05/15/2019
Big companies choose Guernsey to issue bonds
Under EU rules, selective disclosure of information - to some investors and not other - is not allowed.
05/15/2019
Hundreds of advisers report non-compliant PII cover
Three days before the rise in April the FCA sent an email to advisers asking those whose PI insurance policy did not provide compliant cover to complete an online survey
05/15/2019
How Guernsey is part of the British financial services family
Some £35 billion from Guernsey investment funds is invested into UK assets, most into long-term tangible assets, including schools, hospitals, airports and roads, and businesses of all sectors and scale – and the majority of that money comes f
05/15/2019
UBS Hones French Defense Plan
The Swiss bank was ordered to pay 4.5 billion euros ($5 billion) in fines and other charges.
05/15/2019
The controversial “stealth tax” saga continues
Dubbed a “stealth tax” by critics, probate costs will increase under controversial plans to introduce a new sliding scale of probate fees.
05/15/2019
Bank of England warned criminal charge could destabilise Barclays
Top regulator said criminal action over Qatar payments presented risk to bank’s safety