11/26/2018
Trustee Investment Duties: All Change Or More Of The Same?
Whatever the answer to that question, and for more on that see below, trustees need to be thinking about the action they are going to take.
Legal, Regulation & Compliance
11/26/2018
British law firms target Irish mergers due to Brexit
Paul Wyse, Smith & Williamson Professional Services managing director, said that the lack of Brexit contingency planning indicated the Irish legal industry is not prepared for the impact Brexit will have on its business.
11/26/2018
Jersey, Guernsey and IOM sign customs arrangement with UK
The two essential elements of establishing a customs union are that the parties agree not to impose import tariffs for goods passing between themselves, and to impose a common external tariff on goods from places outside the customs union.
11/26/2018
Guernsey courts endorsed for “big ticket” disputes
Mr Kosky praised the Guernsey courts for a “virtually paperless” trial and a judgment made within nine months of the hearing concluded, particularly, he said, when Guernsey had little track record of litigation of such a size.
11/26/2018
Trustee Investment Duties: All Change or More of the Same?
In 2014, the Law Commission suggested some clarificatory amendments to the Investment Regulations[1] as part of the review but the Government did not find a compelling case for legislation at that time.
11/23/2018
‘London’s finest finance broker’ jailed after glassing banking rival in the face at boozy corporate bash
The victim was left needing stitches for a deep, ragged cut across his face after the incident at a pub in the Channel Islands.
11/23/2018
Gibraltar insurers to lose passporting rights
That said, those companies that do write business in the other 27 EU countries will have to make contingency plans or cease to underwrite this business, the agency warned.
11/23/2018
Guernsey courts endorsed for “big ticket” disputes
Mr Kosky praised the Guernsey courts for a “virtually paperless” trial and a judgment made within nine months of the hearing concluded, particularly, he said, when Guernsey had little track record of litigation of such a size.
11/23/2018
Montenegro agrees citizenship by investment plan
The country will start accepting applications on 1 January 2019 and visa will last for three years
11/22/2018
Banking on joint enterprise
For Lloyds, the partnership will “combine Schroders’ investment, wealth management and technology expertise with Lloyds’ significant client base, multi-channel distribution and digital capabilities”
11/22/2018
After Malta, Denmark and Latvia scandals, ECB boosts money laundering scrutiny
The ECB is to launch a dedicated network of watchdogs sharing information on the matter, its chief supervisor Daniele Nouy said yesterday.
11/22/2018
The UK's other big deadline
Two consultations have been broadly welcomed by the funds industry.
11/22/2018
Zurich blasted for spying on client
The ombudsman found whilst Zurich was entitled to instruct a private detective in such circumstances, its decision to do so was premature and should have been a last resort due to the intrusive nature of the surveillance.
11/22/2018
New Settlement Internalisation reporting requirement
Reports are required to be sent to the Bank of England
11/22/2018
FCA proposes introduction of price cap on rent-to-own firms to protect vulnerable consumers from high costs
RTO customers are some of the most financially vulnerable in our society.
11/22/2018
UK role in money laundering scandal an ‘absolute disgrace,’ says whistleblower
A Transparency International executive direcor recently said the UK is used as a money laundering playground by oligarchs and other criminals.
11/22/2018
FCA urged to expand platform exit fee clampdown
The Financial Conduct Authority (FCA) has come under pressure to widen its possible ban on platform exit fees to include older-style pension products
11/22/2018
Approach to enhancing AML standards - Adam Farkas
These investigations take significant time for our AML, legal and management teams but we believe are worthwhile and we will continue to use this tool where needed.
11/22/2018
FCA wins 'fraud' bond investigation complaint
The complainant had signed a contract to purchase a £5,000 bond through a company that was unregulated by the FCA.
11/21/2018
SocGen resolves legal claim with platform tech provider FNZ
Claim from SocGen's global markets division