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
Legal, Regulation & Compliance
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
11/21/2018
Balfour and Manson becomes STEP Gold employer
It demonstrates to clients that we offer the highest level of expertise in areas of law that can have a profound impact on their lives.”
11/21/2018
TISA Conference: Economic Secretary speech
John Glen speaks about the importance of gender equality within the financial services industry.
11/21/2018
Substance Requirements by SMP Partners
Whilst these are significant changes and will increase the level of documentation and reporting required, it is likely that most companies will either meet the substance requirements or will not be caught by the new rules.
11/21/2018
Jersey funds choosing Carey Olsen according to new industry research
Carey Olsen now provided legal advice to 670 such funds at the end of June 2018
11/21/2018
Advisers warned of Mifid II crackdown next year
Rory Percival, a former technical specialist at the FCA, said it would be "daft" of the regulator not to take these two issues together and combine them with a review of whether advisers are complying with product governance rules.
11/20/2018
Guernsey’s green focus – home and away
Earlier this year Guernsey was recognised by the think-tank Z/Yen as an emerging global player in green finance.
11/20/2018
IOSCO members found mostly compliant with Principles for Commodity Derivatives Markets
The survey provided an opportunity for IOSCO members to self-audit their current regulatory practices
11/20/2018
Deutsche Bank Named in Danske Bank Money Laundering Scandal
The German firm allegedly helped facilitate more than half of the illicit dealings undertaken by the Danish bank