04/30/2018
Scope of the 'reasonable excuse' defence
The finalised version of the Anti-Money Laundering (AML) Guidance, approved by the Treasury, offers additional information on when the defence may apply.
Legal, Regulation & Compliance
04/30/2018
EU Plans to Regulate Online Platforms and Search Engines
New proposed EC Regulation would impose transparency obligations vis-à-vis business users and introduces collective redress.
04/30/2018
Dolfin Awarded Custody And Depositary Licence In Malta
Malta’s financial services sector is experiencing a strong period of growth. It currently contributes just over 12 per cent of Malta’s GDP.
04/30/2018
Lead shareholders remain hidden despite transparency rules
Corporate register shows 13% of companies fail to name ‘persons of significant control’
04/30/2018
Ogier counsel recruitment launches insurance and private wealth services
Under Eva, Ogier's Luxembourg office will expand its established investment funds, corporate and finance services.
04/30/2018
Financial advisers arrested on conspiracy to defraud allegations
The City of London Police believes there may be hundreds of people affected that may be victims of fraud.
04/30/2018
Guernsey Finance publishes global distribution strategy statement: connecting to the parts of the world managers want to reach
The strategy statement sets out the aim by which Guernsey intends to become the global jurisdictional platform supporting managers to reach global markets
04/27/2018
Danske Wealth Management Robot Gets Caught Shirking Regulations
Danish regulator reprimands Danske’s asset management robot
04/27/2018
UK Branch of Pilatus Bank Closed Down
The Daphne Project revealed that more than 50 companies owned by the ruling elite of Azerbaijan moved millions of euros using Pilatus Bank.
04/27/2018
Wealth managers accused of dodging capital rules
"This can be seriously disruptive for firms’ plans. It suggests there is work to do if firms’ own assessments of capital requirements are to be aligned with those of the regulator."
04/27/2018
Malta had concerns about bank with Azeri clients, kept it open
Many of her claims, including the one about corrupt payments, remain unproven.
04/27/2018
Police launch fraud investigation into football advice firm
City of London Police detective superintendent Perry Stokes, who is leading the investigation, said: 'We are encouraging anyone who believes they are a victim."
04/27/2018
BlackRock, JPMAM and Schroders bid for Lloyds mandate
Contract withdrawn from Standard Life Aberdeen
04/26/2018
International wealth manager in breach of Fais Act
Chase Buchanan has been marketing its services in South Africa without a licence.
04/26/2018
European markets open mixed as earnings, ECB meeting takes center stage
During Europe's session, investors will be turning their attention to Frankfurt, where the European Central Bank is due to announce its latest monetary policy decisions, followed by a press conference.
04/26/2018
Two studies show most firms unready for GDPR deadline
More than a third of financial firms (34%) said they have not even begun preparing for GDPR, the Cordium study, carried out in April, reported.
04/26/2018
The Treasury allocates just £200,000 for the GDPR
The Ministry of Justice has a total allocated budget of £543,31 for the GDPR.
04/26/2018
British MPs called for disclosing Russians with money in offshores
A group of British parliamentarians demanded the adoption of a bill that would force to disclose the names of businessmen that keep money in the British Virgin Islands and the Cayman Islands, The Times imparts.
04/25/2018
FCA tells EU to get on with reciprocal passporting
Financial Conduct Authority chief executive Andrew Bailey has told the European Union to “get on with it” and reciprocate passporting for UK firms during the implementation period.
04/25/2018
Brexit: what does it mean for financial markets to be open?
The Government has committed to legislating for a temporary permissions regime.