12/14/2018
Companies behind £9m pension truffle scam shut down
Investors were told their savings were funding oak and hazel tree saplings, inoculated with truffle spores, and planted and managed for 15 years at dedicated plantations worldwide.
Legal, Regulation & Compliance
12/14/2018
FCA tackles professional indemnity fears
But the regulator told FTAdviser it was aware of the issues and pledged to carry out detailed analysis before finalising any rules.
12/14/2018
Good News for Pension Scheme Trustees - HMRC Simplifies Anti-Money Laundering Reporting Requirement
The AML regulations impose (amongst other things) a duty on affected occupational pension schemes to report certain "beneficial ownership" information to HMRC and to update that information from time to time.
12/14/2018
FCA introduces new rules on handling complaints about Authorised Push Payment fraud
The new rules will come into force on 31 January 2019.
12/14/2018
FCA bans director for not disclosing conflict of interest
The Financial Conduct authority has banned Angela Burns from acting as a non-executive director and fined her £20,000 for failing to act with integrity at two mutual societies.
12/14/2018
Basel Committee consults on disclosure requirement to address leverage ratio window-dressing
The Committee welcomes comments from the public on all aspects of the consultative document here by Wednesday 13 March 2019.
12/14/2018
Ogier acts on purchase of Cannon Green
Advising on both Jersey corporate and finance aspects of the transaction, the Ogier team was led by partner Richard Daggett with senior associate Amy Garrod.
12/14/2018
Court shuts down companies behind £9m truffle scam
The court heard that Viceroy Jones New Tech used a network of unregulated financial advisory firms and targeted people that had access to their pension savings.
12/13/2018
FCA Seek Retrial of Ex-UBS Compliance Officer On Insider Case
The defendants allegedly made £1.8 million in profit through the inside trading of stocks.
12/13/2018
CMA sets out investment consultants reforms
The CMA has today announced a range of reforms to the investment consultancy and fiduciary management sector after finding competition problems.
12/13/2018
Treasury, USTR Finalize Bilateral Agreement With the UK on Prudential Measures Regarding Insurance and Reinsurance
The U.S.-UK Covered Agreement is an important step in providing regulatory certainty and market continuity as the United Kingdom prepares to leave the European Union in March 2019
12/13/2018
FCA response to the CMA’s final report on its investigation of investment consultancy and fiduciary management services
Today the Competition and Markets Authority (CMA) published the final report (link is external) and remedies for its market investigation of investment consultancy and fiduciary management services.
12/13/2018
FCA proposes changes to facilitate investment in patient capital
The DP does not propose any changes to the authorised fund rules.
12/13/2018
Government reverses suspension of Tier 1 Investor visa but confirms route will be reformed
The reason for this turn of events is unclear, although there are indicators that the retraction is the result of opposition by other Government departments
12/12/2018
US anti-money-laundering bill could reappear early next year
Critics say the proposed law, which stalled following the US mid-term elections, would place an unnecessary burden on dealers
12/12/2018
The ‘clear pattern’ to Deutsche Bank’s mounting legal woes
Christian Sewing’s ‘new era’ hamstrung by repeated emergence of lender’s past problems
12/12/2018
Basel Committee publishes updated Basel III disclosure requirements
The standard incorporates feedback collected during the February 2018 public consultation from Pillar 3 preparers and users. In particular, the CVA disclosure requirements have been substantially streamlined.
12/12/2018
Walkers Hedge Funds Trends - Part 1
All data, unless referenced, is taken from Walkers' in-house investment funds survey.
12/12/2018
Major European Banks Named in Alleged Frauds By Innovatis Group
Several well-known banks are named in the Austrian and Colorado indictments as providing loans or other banking and investment services to Lasshofer.
12/12/2018
European Central Bank bond buying legal, EU top court rules
The ECB had hoped that by buying government bonds, as part of its wider “quantitative easing” program, it would lower the interest rates faced by heavily-indebted members that were struggling to borrow more money at competitive rates on the ma