06/26/2018
FCA probe to explore Mifid II impact on research
UK regulator to examine regulatory impact as current research pricing viewed as unsustainable by investors.
Legal, Regulation & Compliance
06/26/2018
French regulator won't restrict UK fund managers
Legg Mason said uncertainty on delegation rules was a factor in its decision to open a Dublin office
06/26/2018
Fidelity wins EU court challenge to Danish withholding tax on dividends paid to foreign funds
The withholding tax repayment was denied as, under the Danish legislation, to be exempt from withholding tax, a UCITS must be resident in Denmark and have Article 16 C fund status.
06/26/2018
FCA proposes changes to complaint handling rules to help victims of authorised push payment fraud
The FCA shares concerns with the Payment Systems Regulator and the industry that APP fraud is a growing problem. This consultation published today builds on the work of the FCA and PSR to better protect consumers from APP fraud.
06/26/2018
New draft template aims to help distributors meet their MiFID II responsibilities
The template has been subject to a number of preliminary trials by a sample of distributors to ensure it is ready to proceed to the testing stage
06/26/2018
Charities, defined benefit pension schemes, and the Pensions Regulator - Withers
By the Regulator's own admission, it is now clearer on what it expects from pension trustees, is quicker to act, and is tougher on those who fail to act in the interests of members.
06/26/2018
The Fundraising Regulation's updated guidance on handling complaints - Withers
Charities should consider implementing internal Complaints Policies to guide staff in responding to complaints quickly and helpfully.
06/25/2018
Lessons from Pugachev – trust considerations
The Protector also had positive powers such as to add beneficiaries and to remove trustees with or without cause.
06/25/2018
Industry reacts to surge in problem development lending cases
“Development is not just about value, feasibility is just as important.”
06/25/2018
Iceland: From crisis to hotspot, 10 years on from the financial crisis
The fodder crop was a staple in the Icelandic diet centuries ago and has made a comeback in trendy restaurants in recent years, but these plants aren’t for eating.
06/25/2018
Yorkshire Bank deal for Virgin Money ‘could spark flurry of banking mergers’
He said technology and compliance costs will be high on banks’ radar.
06/25/2018
Chancellor backs mutual recognition model for financial services
Your weekly briefing on the UK economy
06/22/2018
The 5th Anti-Money Laundering Directive and the art world
AMLD5 brings new challenges for ‘obliged entities’ including financial institutions, tax professionals, providers of virtual currencies and those trading in luxury goods – such as art dealers.
06/22/2018
Deutsche Bank stressing out about US stress tests
Germany’s largest bank seems doomed to fail the review by US regulators, causing further damage to its reputation and loss of key personnel.
06/22/2018
French bank SocGen says has wound down contracts with Mossack Fonseca
In March, Mossack Fonseca announced it would be shutting down due to the economic and reputational damage inflicted by the scandal.
06/22/2018
197 arrests made under new bank fraud scheme
The scheme was first introduced as a pilot in London during October 2016, before a national roll-out began in May 2017.
06/22/2018
Deutsche Bank spends $17 billion in a decade on legal costs
Despite spending $17 billion, the bank still has 5 of its biggest cases outstanding and has set aside $2.9 billion for litigation provision 1st qtr.
06/22/2018
Basel Committee issues progress report on banks' implementation of the Principles for effective risk data aggregation and reporting
The report reviews G-SIBs' progress in implementing the Principles in 2017. A previous progress report, published in March 2017, assessed implementation during 2016.
06/22/2018
Dentons Launches Frankfurt 'Eurozone Hub' to Guide Clients on Financial Regulation
The firm aims to offer its lawyers as "supervisor sherpas," guiding clients through the Eurozone's evolving regulatory landscape.
06/22/2018
Deloitte gets its legal licence
Legal services will be provided in employment law, tax litigation and immigration.