06/15/2018
Don’t forget Malta's UBO deadline
Maltese-registered companies are running out of time to submit the necessary information about their ultimate beneficial owners without incurring a penalty.
Legal, Regulation & Compliance
06/14/2018
Testing times: Trading systems are out of sync with new regulations
No one likes to talk about the IT infrastructure challenges at a bank – it would be a long conversation and largely focused on the amount of work to do.
06/14/2018
Collas Crill advises on London property buy
The deal was led by group partner Paul Wilkes, assisted by senior associate Tristan Ozanne and associate Michael Lyner.
06/14/2018
FCA's Connaught review pushed back
The fund, which is now in liquidation, was an unregulated collective investment scheme which Capita ran from March 2008, providing short term bridging finance to commercial operators in the UK property market.
06/14/2018
Old Mutual boss: More businesses like ours will break up
He says: “Old Mutual is not the only global financial services business thinking about restructuring. I suspect we will see more.
06/13/2018
France orders banks to raise capital buffers to manage risks
The measure is expected to enable the banks to have adequate capital to address any potential economic downturn in the future and cover up bad loans.
06/13/2018
British overseas territories in talks to keep tax haven secrecy
UK plan to impose public registers of share ownership sparked protests and calls for constitutional separation
06/13/2018
High Court applies SAAMCO principle to find no assumption of responsibility for losses flowing from market forces
This can considerably reduce the scope for litigation, as relying upon the SAAMCO principle to limit liability should be a solution of last resort.
06/13/2018
High Court Rejects the First IRHP Mis-Selling Claim Brought by Private Persons Under Section 138D FSMA
The court therefore held that the bank would not have been able to rely upon the basis clause if it had in fact given advice.
06/13/2018
British Overseas Territories in London to fight public register
While the meetings are meant to focus on Brexit, the decision to impose public registers of beneficial ownership on overseas territories is set to be a major part of the agenda.
06/13/2018
FCA looks to soften Mifid II fallout
Bailey said the FCA is currently analysing how costs and charges disclosure reforms were working.
06/13/2018
How these regulation experts are preparing for a new era
A wave of regulatory change is hitting the financial services sector, with Mifid II, GDPR, the SMCR and Brexit all shaking things up. Tim Cooper discovers how PA Consulting Group’s David Biggin and Mike Teall are preparing for this new era. Sponsore
06/12/2018
Ranger Direct Lending agrees to wind up after Ares flees
Oaktree is preparing to publish its fifth open letter to shareholders in the £128 million investment company to press home its advantage and argue its case.
06/12/2018
A helping hand for the invisible hand: the FCA’s approach to competition and innovation
This competition objective is focused on improving the process of rivalry between firms, rather than improving the competitiveness of any one firm in particular.
06/12/2018
Cryptoassets and Financial Crime
Following a risk-based approach does not mean banks should approach all clients operating in these activities in the same way.
06/12/2018
FCA drops Scottish Widows from life insurance inquiry
The FCA began an investigation into the country’s biggest life assurers in March 2016, looking into what they told customers about exit fees on their products.
06/12/2018
Hedge fund manager who duped victims out of £22m and blew it on £4m mansion, Ferrari, Vegas trips and bets must forfeit £30,000 inheritance or face extra 14 months in jail
Wilson frittered away another £100,000 on shopping sprees and £75,000 golfing on some of the world's most exclusive courses.
06/11/2018
FCA: Final rules on Sovereign controlled companies
The FCA thinks there is considerable benefit to investors if corporate issuers agree to meet these additional premium requirements.
06/11/2018
Trusts (Amendment No.7) (Jersey) Law 2018 now in force
The Trusts Law is widely regarded as the international standard for offshore trust legislation
06/11/2018
Legal heavyweights back funds-industry bid for ministerial order on Bermuda and Guernsey
The department "is evaluating the submissions from industry on this issue and no decision has been made at this point regarding the addition of these two jurisdictions", he said.