04/02/2019
A Pension Scheme Trustee Owes No Fiduciary Duty to the Scheme's Sponsoring Employer
The Court rejected all the allegations made against them.
Legal, Regulation & Compliance
04/02/2019
Fake German heiress laughs with her attorney during her fraud trial as it's revealed a married banker 'sent her dozens of flirty texts'
During the 28-year-old's trial on Monday, her defense attorneys told the court that a banker at the private equity fund Fortress sent Sorokin 158 texts when she was trying to secure the loan.
04/02/2019
FCA warns of high-risk Isas
The FCA warned: "Anyone considering investing in an Ifisa should carefully consider where their money is being invested before purchasing an Ifisa."
04/02/2019
EU says part of UK tax scheme was illegal aid for multinationals
The rules allow UK tax authorities to allocate all profits artificially diverted to an offshore subsidiary back to the UK parent company.
04/02/2019
British Virgin Islands: A Solution To An Unusual Predicament
The BVI Commercial Court held that the scheme of the Business Companies Act was to require three conditions to be satisfied before a company discontinuing under the Act ceased to be a company incor
04/02/2019
UK anti-tax avoidance scheme broke state aid rules, says EU
The Commission found that the scheme was “partly justified” and did not constitute state aid as it ensured the “proper functioning and effectiveness of the relevant tax rules”.
04/01/2019
Guernsey to the rescue for in-deficit pension schemes
Defined benefit pension schemes are exposed to longevity risk as they guarantee lifetime benefits for members.
04/01/2019
Australian banks have fingers crossed for a Brexit delay
ANZ Banking Group is relying on existing European branches and licences.
04/01/2019
UK’s top fraud prosecutor backs U.S.-style plea bargaining deals
Retailer Tesco and aero-engines group Rolls-Royce agreed DPAs with the SFO in 2017
04/01/2019
Guernsey reopens investment talks with EIF
The EIF is a specialist provider of risk finance for small and medium-sized enterprises across Europe, backed by the European Investment Bank, European Union and a range of public and private banks and finance institutions.
04/01/2019
Ogier's Guernsey team advises Baillie Gifford on US$477 million Schiehallion launch
The team – which included associate Gabrielle Saul – advised alongside accountants and auditors KPMG, administrators Alter Domus and onshore lead counsel Herbert Smith Freehills LLP.
04/01/2019
European Investment Fund able to invest into Guernsey again
The move will be welcomed by the Guernsey funds industry.
04/01/2019
Guernsey introduces world's first ILS hybrid vehicle
Guernsey Finance Chief Executive Dominic Wheatley welcomed the introduction of the new vehicle
04/01/2019
Hundreds of CMCs register for FCA authorisation
The City watchdog warned it will use a range of powers if authorised CMCs do not comply with its rules
04/01/2019
Between a Legal "Rock" and a "Compliance Hard Place"?
ICO fines Grove Pension Solutions Ltd (Grove) £40,000 for sending almost 2million spam emails
04/01/2019
Private mergers and acquisitions in the Isle of Man: overview
First published in the Thomson Reuters Practical Law Private Mergers and Acquisitions Global Guide 2019
03/31/2019
European Investment Fund able to invest into Guernsey again
Confirmation earlier this month that the island’s legal substance requirements were considered compliant with EU requirements, has meant that the European Investment Fund is once again permitted to invest into Guernsey funds.
03/31/2019
Brexit: the FCA confirms final rules for firms
The FCA has also confirmed it has extended the notification window for firms who wish to enter the TPR until the end of 11 April 2019.
03/31/2019
FCA and SEC sign updated supervisory cooperation arrangements
These MOUs will come into force on the date EU legislation ceases to have direct effect in the United Kingdom.
03/31/2019
Brexit: SRB expectations
Banks are expected to engage in a dialogue with the SRB on their MREL issuance planning