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.
Legal, Regulation & Compliance
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.
02/20/2017
Asset manager Vanguard calls for fund fees health warning
A health warning on the impact of costs would be a clear sign of intent from the industry that it’s putting the needs of the investor first
02/20/2017
Think-tank proposes dual funds regime for post-Brexit UK
The proposed scheme would allow less EU-focused asset managers to avoid some of the burdens of EU regulation.
02/20/2017
MiFID II – New European Regulation To Govern Increasing Demand For Bespoke Investment Strategies
European Capital flows are expected to continue their upward trajectory despite sluggish global growth concerns and the diminishing of monetary easing polices.
02/20/2017
Spain’s Princess Cristina Found Not Guilty In Tax Fraud Case
King’s sister acquitted, but husband Iñaki Urdangarin given six-year jail sentence on charges including fraud and tax evasion
02/20/2017
Asset management study: 5 things OMGI told the FCA
The FCA also stated that investors are not always clear what the objectives of funds are
02/17/2017
Herbert Smith Freehills - Financial regulation update
First application to PSR to vary agreement between PSP and IAP under FSBRA
02/17/2017
UBS France Said to Be Charged With Harassment Amid Tax Probe
The French unit faces allegations that Forissier was forced to work under difficult conditions
02/17/2017
Norway revises rules for dipping into sovereign wealth fund
Jensen said the government had consulted a number of external experts before opting to raise the equity investments to 70 per cent.
02/17/2017
Guidance to Cyprus Investment Firms on communications with clients
It must be provided by authorised and qualified employees of the appropriate department.