06/27/2017
Google has been hit with a record-breaking €2.4 billion fine by the EU over its antitrust case
In a statement issued immediately after the ruling, Google said it "respectfully" disagreed and was considering whether to appeal.
Legal, Regulation & Compliance
06/27/2017
Fund managers await FCA report with trepidation
The FCA has already published an interim report.
06/27/2017
FCA funds study: six things Hargreaves Lansdown wants to see
The funds industry is twitching ahead the FCA study, with some reports suggesting fund firms could even face enforcement action.
06/27/2017
European supervisory authorities set out AML-CFT guidelines
The European Banking Authority, European Securities and Markets Authority and European Insurance and Occupational Pensions Authority jointly published the guidelines.
06/27/2017
Herbert Smith Freehills - Financial regulation update
FCA policy statement on prohibition of restrictive contractual clauses
06/26/2017
Regulation puts U.K.-based money managers at risk of losing EU business
It would make sense for global equity managers to stay in London.
06/26/2017
European markets seen mixed at open as Italy is forced to bail out two banks
The move comes two days after the European Central Bank warned that Banca Popolare di Vicenza and Veneto Banca were likely to fail.
06/26/2017
Starling Bank passports to Europe, first stop Ireland
We’ve done it the hard work way by deciding to build it from scratch.
06/26/2017
Typical UK bank will waste £10m annually on inefficient KYC checks as AMLD4 regulation comes into force
However, the report concludes that most eID schemes will not be ready for some time and recommends advanced mobile technology to bridge the gap.
06/26/2017
European savings and co-operative banks join screen-scraping row
The suggestion has led to an uproar among mature fintech startups, who have lobbied hard for a reversal of the decision, claiming that the reforms will provide banks with the means to control what data is shared, putting new entrants at a disadvantage.
06/26/2017
New Regulations on reporting payment practices are now in force
Charities required to report under the Regulations
06/26/2017
Herbert Smith Freehills - Financial regulation update
FCA speech on improving access to insurance
06/26/2017
French finance watchdog warns on growing private sector debt
In that context, it added that it was preparing a decision at the end of the month on a countercyclical bank capital buffer, which has been set at zero since its creation at the end of 2015.
06/25/2017
Investment consultants and fund managers agree reporting standard
Influential advisers to pension funds back new way to publish performance data
06/25/2017
Artificial intelligence is entering the justice system
Bad news for crooks: RAVN’s AI speeds up the document-sifting process - and is more accurate than humans
06/25/2017
British fund houses face year of redesign in battle for public’s trust
From the sector’s point of view, the timing is pretty awful.
06/24/2017
China doles out $100 million punishment to Russian-controlled fund for role in 2015 crash
The audit also found the company's trading was subject to a functioning risk-management system," it said.
06/24/2017
British lawmakers hit by 'sustained' cyber attack
Britain's National Health Service was hit by a massive global ransomware worm in May which crippled the computer system and forced some hospitals to turn away patients
06/23/2017
Luxembourg’s asset managers prepare for competition from Asia
Brexit question marks hang over the world’s second-largest domicile of funds
06/23/2017
Revenues pass £20m at world's oldest law firm
They are all the more significant because our growth is entirely organic.