11/11/2018
ESMA asks clients of credit rating agencies and trade repositories to prepare for a no-deal Brexit test
In a no-deal Brexit scenario, TRs and CRAs established in the UK will lose their EU registration as of the UK’s withdrawal date.
Legal, Regulation & Compliance
11/09/2018
MiFID II, the next chapter. Are you ready for ex-post disclosure?
The stakes couldn’t be higher: already Advisors are changing loyalties to product manufacturers who can seamlessly deliver clear ex-ante disclosure. Demand for transparency is evident.
11/09/2018
ESMA urges 12-month breather on derivatives contracts clearing rules
As a result, EU firms could be forced to renew their non-centrally cleared OTC derivative contracts and replace their U.K. counterparties with EU-based counterparties.
11/09/2018
Guidelines on cooperation and information exchange for AML/CFT supervision purposes
Where the conditions for setting up an AML/CFT college are not met, the Guidelines propose that supervisors will continue their cooperation and information exchange on a bilateral basis and formalise this process.
11/09/2018
The Moldova Citizenship-by-Investment Program is Officially Launched
The MCBI program requires applicants to make a defined economic contribution to the country through its Public Investment Fund.
11/08/2018
Banks face further PPI claims rush under FCA rules
Regulations would force lenders to inform customers they can make new claims
11/08/2018
What you need to know about the ECB's banking watchdog
Known as the Single Supervisory Mechanism (SSM), the regulator was created in 2014 to avoid a repeat of the global financial and then eurozone debt crises that brought the euro to the brink of collapse.
11/08/2018
Twist in alleged $1bn art fraud as Russian tycoon detained in Monaco
A judge in the principality has been investigating whether Rybolovlev sought to influence law enforcement officials in his long-running dispute with Swiss art dealer Yves Bouvier.
11/08/2018
BVI & Cayman Islands Sanctions – Additional Reporting Obligations
The Sanctions Orders generally restrain persons from dealing in funds or economic resources owned or controlled by, or making funds or economic resources available to, persons or entities listed under the Order.
11/08/2018
FCA statement on the launch of the Cost Transparency Initiative.
The FCA is pleased to note today’s announcement which launches a new body to deliver a template for the disclosure of costs and charges to institutional investors. This will lead to improvements in the ability of institutional investors to access an
11/08/2018
PRA imposes financial penalty on Mr Akira Kamiya and Mr Takami Onodera for failure to disclose information
The PRA was not informed about the DFS action until after the publication of the consent order.
11/08/2018
Fund manager Carmignac probed over tax fraud
“It is important to note that this issue concerns past deeds and that the risk is now over."
11/07/2018
Monaco deny Football Leaks claims of offshore set-up to bypass Financial Fair Play
Monaco qualified for the Champions League in 2014 after finishing second in Ligue 1, and were looking for new revenue streams that would enable them to comply with FFP.
11/07/2018
Top HSBC executive probed by Financial Conduct Authority
A top executive at HSBC is being probed by city regulator the Financial Conduct Authority (FCA).
11/07/2018
IoM Conduct of Business code published
One of the key areas within the document relates to companies in some instances being given the choice to disclose commission either as a percentage of the investment or a monetary amount.
11/07/2018
Guernsey will always be leaders
International regulations are pushing all jurisdictions to show that the companies resident in those jurisdictions have substance.
11/07/2018
Fairness, flexibility and the long-term view: the FCA’s vision for the mortgage market
Speech by Christopher Woolard, Executive Director of Strategy and Competition at the FCA, delivered at the UK Finance Annual Mortgage Conference, London.
11/07/2018
Malta faces high money laundering risk
Study reveals weaknesses in controlling cash movements at ports of entry
11/07/2018
Upper Tribunal upholds the FCA decision to fine and ban former Keydata executives
The Tribunal ruled that both had acted without integrity and had failed to deal with the FCA’s predecessor the Financial Services Authority in an open and cooperative way.
11/07/2018
Financial adviser banned for abusing client funds
The UK adviser ‘knowingly took people’s money (£200k) for investments he knew were never viable’