03/08/2017
Professional classes enabled Panama Papers tax evasion scandal
The biggest data leak in the history of journalism and exposed the world's rich and powerful as complicit in a vast offshore secrecy cabal.
Legal, Regulation & Compliance
03/08/2017
German bank blacklist of Yemeni nationals widens
The entire state of Yemen has been blacklisted by Deutsche Bank and Commerzbank.
03/08/2017
Lax Oversight of Swiss Lawyers Blamed in EU’s Panama Probe
A Swiss lawyer does not have to abide by due diligence rules when it acts as an intermediary in setting up a company that has directors as nominal beneficiaries owners of a company
03/08/2017
Alcentra announces the final closure of its second European direct lending fundraising
Alcentra has been sourcing and arranging financings to middle market businesses in Europe since 2003.
03/08/2017
Senior Managers and Certification Regime: one year on
Many of the rules for deposit takers and the largest investment firms (banks) came into effect on 7 March 2016.
03/08/2017
Financial Supervisory Authority imposes a penalty payment of EUR 1,000,000 on and issues a public warning to Nordea Bank AB (publ), Finnish Branch
Determination of the size of a penalty payment is based on a comprehensive assessment
03/08/2017
New BoE deputy governor apologises over brother’s job at Barclays
The deputy governor accepted responsibility for her “oversight” today.
03/08/2017
The 'London Whale' trader who made a $6.2 billion trading loss says he'd welcome a lawsuit to 'retrieve' his 'stolen' life
So far, no enforcement action has been brought against Iksil.
03/07/2017
IoM regulator investigates another troubled sustainable fund
The latest fund, Quadris was set up on the Isle of Man as a multi-class qualifying fund and invests in sustainable forestry plantations in Brazil that are managed by a company called Floresteca SA.
03/07/2017
EBA provides transparent and harmonised information on asset encumbrance across the EU
When these draft RTS come into force, they will replace the current EBA Guidelines on disclosure of encumbered and unencumbered assets.
03/07/2017
FCA publishes Insurance Distribution Directive consultation
The IDD aims to strengthen and consolidate the existing rules of IMD.
03/07/2017
EBA publishes Opinion on transitional arrangements and credit risk adjustments due to the introduction of IFRS 9
The EBA Opinion focuses on the main elements that should be considered when designing the transitional arrangements.
03/07/2017
Vienna Initiative: New Working Group on Capital Markets Union for CESEE region
Its focus is now on fostering home and host authority coordination in support of stable cross-border banking.
03/07/2017
J O Hambro Capital Management appoints Silverfinch to handle pan-European regulations
JOHCM has appointed Silverfinch in order to utilise the firm’s streamlined approach in dealing with all four regulations and support
03/07/2017
Mills & Reeve builds real estate clout with London merger
The merger, which goes live from June 1, will allow Mills & Reeve to further develop its real estate and projects and construction practices in the UK capital.
03/07/2017
Gina Miller urges FCA investigation into fund management 'price fixing'
Businesswoman and investment campaigner says there is no genuine competition among fund groups
03/07/2017
Law firms cosy up to UK fintech community
Over 25 firms applied, seeking £30,000 of value add services such as legal advice and guidance from experts at the firm
03/07/2017
OJK revokes permit of Royal Bank of Scotland's branch
The plan to shut down the branch offices in Indonesia has been realized in the second semester of 2015.
03/07/2017
Bond Dickinson shortlisted for three Legal Business awards
The winners will be selected by a high calibre judging panel of some of the industry’s leading figures.
03/07/2017
Sale of NBG Group’s stake in the South African Bank of Athens
The transaction is expected to close within the second semester of 2017 and is subject to customary regulatory and other approvals.