02/23/2017
Advisers and FCA struggle with DB transfers
The FCA has this year published two key documents concerning DB transfers and suitability.
Legal, Regulation & Compliance
02/23/2017
UK response to today’s publication by the EBA of its final draft Regulatory Technical Standards on strong customer authentication and common and secure communication
Overall we feel that the RTS will only be successful by ensuring strong customer authentication that balances the essential requirement to protect customer data with a seamless customer experience that allows for the creation of innovative new services.
02/22/2017
U.K. managers back enhanced governance, stronger directive on fee disclosure
It also wants enhanced fund governance process
02/22/2017
Spanish princess’s husband gets six years over €6m tax fraud
She was accused of siphoning off money from a state-backed real estate company.
02/22/2017
Legal firms need to become ‘internationalised’, says Dublin chief of Eversheds Sutherland
“Clients are increasingly demanding that, so the combination in the US gives us that added ability to provide top-quality premium advice across the United States.”
02/22/2017
European Securities and Markets Authority Concerned About MiFID II Loopholes
ESMA requests the Commission to consider whether it should adopt any legislation that might further clarify the definitions and concepts in MiFID II
02/22/2017
FRC responds to Green Paper on Corporate Governance Reforms
The framework are growing and the FRC believes more needs to be done to win back public trust.
02/22/2017
Allen & Overy and Baker McKenzie invest in Northern Ireland legal innovation centre
Legal service is a knowledge-led business and technology is pivotal to everything we do
02/22/2017
Asset managers push back against UK rule change proposals
Chief among the regulator’s planned solutions was the creation of a single ‘all-in’ fee, to help investors better understand the cost of investing, including how much the fund pays to buy and sell investments.
02/21/2017
Former bank CEO tells court BoC was flush with funds in 2012
The former CEO said they made the request not because they needed the cash but because they did not want to use the group’s liquidity.
02/21/2017
Brooks Macdonald picked as DFM partner for Panacea Adviser
Coupled with the recent spotlight placed on DFM due diligence by the FCA.
02/21/2017
Business Property relief a benefit in family succession says Wilsons
The band, which sets out the level up to which no Inheritance Tax is applied on an inheritance.
02/21/2017
HSBC Boosts CEO Gulliver's Pay as Bank's Bonus Pool Drops 12%
He received 64 percent of his potential bonus, while he will also get a new long-term incentive that could be worth 4 million pounds for 2016 if all targets are met by 2019.
02/21/2017
Fund groups snub FCA’s all-in fee proposal
But asset managers, including passive specialist Vanguard and active fund group Old Mutual Global Investors.
02/20/2017
Herbert Smith Freehills - Financial regulation update
FCA agrees redress scheme
02/20/2017
The Vatican froze €2 million in funds suspected to be connected with money laundering in 2016
Milano gave no details in his speech but added that the total amount of suspect money frozen between 2013 and 2016 was about 13 million euros.
02/20/2017
UK government to approve controversial Macquarie bid for Green Investment Bank
Macquarie has been prevented from commenting on GIB due to a confidentiality clause but has highlighted its track record as a long-term investor in green energy projects.
02/20/2017
Italy: a new non-dom system for HNWIs
Moving to Italy could be your first step for more efficient wealth management and succession planning.
02/20/2017
State-Owned KfW Could Need Extra Capital
Germany's financial regulator BaFin is likely to push state-owned KfW to set aside more capital due to IT problems.
02/20/2017
Bank of China to pay fine in Italy money-laundering
The Bank of China said the plea deal was aimed at "avoiding a long trial and allowing the Milan branch to concentrate on developing its own business.