02/19/2019
€17bn pension provider vows to scrutinise firms over tax payments
Fels pointed out that some of PenSam’s members worked its social and heath assistants in a tax-financed welfare sector.
Legal, Regulation & Compliance
02/18/2019
HMRC chases tax avoiders overseas
The search for those who owe money has been extended to countries as far afield as Australia and Madagascar
02/18/2019
European bank eyes Philippines operations
Several foreign banks have shown interest to open either a branch or subsidiary in the Philippines
02/18/2019
Brexit Update: Further clarity received from the Central Bank of Ireland
The ESMA MoU satisfies both of the requirements noted above in relation to delegation under the UCITS Regulations and AIFMD Regulations.
02/18/2019
Millions at stake in wrangle over Malta firm
Russian shareholder accused of €13m credit fraud
02/18/2019
Mifid II caused 'shakeout' of research providers
Of the investment professionals surveyed 57 per cent of portfolio managers reported sourcing less research from investment banks than before MiFID II, with research providers feeling the squeeze of a more competitive market.
02/17/2019
FCA: Firms publish new and updated data on current account services
We required firms to publish new data showing how long it takes each firm to open a current account for new customers
02/17/2019
EU Council announces agreement reached on banking risk reduction package
The agreement also introduces amendments to improve cooperation between competent authorities on matters related to the supervision of anti-money laundering activities.
02/17/2019
EU and Global Securities Regulators Welcome Asgreement on Data Transfer
ESMA and IOSCO members who exchange personal data on a regular basis will now take the necessary steps to enter into the arrangement.
02/17/2019
Arrest of Michael Calvey, an American investor, shocks Russia’s business community
Yet more damage is done to the country’s image as an investment destination
02/15/2019
SIMON LAMBERT: Look after the boss's pension or they won't look after yours - how squeezing high-earners backfired
When the directors’ pension pots hit just over £1million, or their annual payments in hit £40,000, they end up with a tax headache that means there is little point in them remaining in the company retirement scheme.
02/15/2019
Compenswiss moves to tackle mounting cashflow problem
Switzerland’s federal social security office has calculated that the AHV/AVS fund, which is for first pillar pensions, will run out of assets by the end of 2030 if no measures to address the funding imbalance are adopted before then.
02/15/2019
Market abuse requires a dynamic response to a changing risk profile
A number of these judgements are extremely time sensitive and it is my suspicion that this pressure of time will only increase.
02/15/2019
EU cross-border payments outside Eurozone: MEPs scrap excessive fees
Transparent currency conversions for card-based transactions and bank transfers
02/15/2019
UK and Canada forge closer fintech ties
Renewing this MoU will help us to encourage greater innovation and ensure ongoing cooperation between the UK and Canada.
02/15/2019
No-deal Brexit may disrupt ESMA’s MiFID thresholds
Maijoor added that in no-deal Brexit, from that date, no new UK data will be collected by ESMA
02/14/2019
EU adds Saudi Arabia to dirty-money blacklist, upsets Britain
Apart from reputational damage, inclusion on the list complicates financial relations with the EU.
02/14/2019
Libor Is Being Overtaken: Will It Be A Car Crash?
It analyses the four markets most affected by the discontinuation of LIBOR
02/14/2019
FCA accused of not taking responsibility
Nor does it include a glossary of consumer friendly terms and Mr Bussy said this means individual fund houses will be confused about how to do it.
02/14/2019
Switzerland: New Laws on Financial Services
The FinSA contains cross-sector rules for offering financial services and distributing financial instruments.