06/18/2017
Lloyds likely to extend deadline for HBOS fraud compensation offers
Move to come after it emerges only one of 64 victims of fraud committed before bank bought HBOS has received payment
Legal, Regulation & Compliance
06/18/2017
Central Bank probes stockbroker Davy over Anglo bond sale
Multimillion euro settlement made with golden circle developer • Central Bank examining serious allegations over bond trade
06/17/2017
Bank regulator warns of big ring-fencing risks on tight deadline
The UK’s big banks are rushing to comply with the legislation, with a cut-off date of 1 January 2019.
06/16/2017
Herbert Smith Freehills - Financial regulation update
FCA provides update on regulatory sandbox
06/16/2017
Guernsey regulator fines and bans directors for incompetence
Capital Solutions Limited failed to organise and control its internal affairs in a reasonable manner
06/15/2017
Uncertainty of Mifid II looms large over wealth managers
Firms wait for regulator to clarify how complex rules will work
06/15/2017
Banks to face fines totalling €4.7bn in first three years under GDPR
The report GDPR: Banks, Breaches and Billion Euro Fines forecasts the number of data breaches in the European financial services sector over the next three years and corresponding fines under GDPR.
06/15/2017
Regulator Keen to Squeeze Adviser Fees
Fund management fees are falling, could the cost of getting advice be next in line?
06/15/2017
Byrne is currently under investigation by the Jersey Financial Services Commission.
Byrne is currently under investigation by the Jersey Financial Services Commission.
06/15/2017
KYC obstacles hamper Mifid II preparations
The extended deadline for Mifid II is now only six months away
06/15/2017
Dutch regulator fines International Card Services €2.4m
ICS has its own board of directors and a separate banking licence.
06/14/2017
Final opportunity to correct offshore tax irregularities before tough new penalties
A new legal obligation will require taxpayers to correct any returns that fail to properly report offshore matters that would give rise to a UK tax liability.
06/14/2017
Gibraltar loses landmark lawsuit on EU passporting
Gibraltar has lost a landmark legal battle to be recognised as a separate EU state for tax purposes, in a ruling that deals a further blow to the British overseas territory’s hopes of securing a special status post-Brexit.
06/14/2017
FCA defends hard-line asset management study
The UK financial regulator justifies the stance adopted in its asset management market review
06/14/2017
Herbert Smith Freehills - Financial regulation update
FCA review on pension lifestyle investment strategies
06/14/2017
Barclays braced for outcome of five-year SFO fundraising probe
The SFO will announce the outcome of its five-year probe into Barclays' crisis-era deals with Qatar within days
06/14/2017
Important Changes to PSC Register Requirements
It is also worth noting that significant reference is now being made to the Fifth Money Laundering Directive
06/14/2017
FCA could compel banks to contribute to LIBOR to 'protect representativeness' of rate
The FCA said that it was not as yet able to finalise the most appropriate methodology for pre-selecting the banks it could compel to contribute to LIBOR in the future.
06/13/2017
Herbert Smith Freehills - Financial regulation update
FCA consultation on its powers in relation to LIBOR contributions
06/13/2017
asb law turnover up 15% after investing in technology
It has cut costs after it introduced a new legal cloud software, Peppermint.