03/09/2017
Herbert Smith Freehills - Financial regulation update
BoE speech on the assessment and challenge of a central bank’s own financial risks
Legal, Regulation & Compliance
03/09/2017
Regulation: TRIM stokes IRB stand-off between Basel and the ECB
TRIM targets the models themselves while Basel IV’s capital floors target their outputs.
03/09/2017
Chancellor slaps 25% charge on people who move pensions abroad to dodge UK tax bills
The crackdown could also end up deterring people from transferring pensions into jurisdictions where their savings are no longer protected by UK regulators, but by the local authorities.
03/09/2017
Fiva fines four banks over investment advice
This has led to the companies jeopardising the functioning and effectiveness of the FIN-FSA’s supervision.
03/09/2017
Gov't calls on FCA to ensure regulation benefits outweigh costs
The government wants to see financial services work in the best interests of the consumers and businesses they serve.
03/09/2017
French Q1 GDP growth seen at 0.4 pct - central bank
Its survey showed that the business sentiment indicator for the manufacturing sector had improved to 104 points in February from 102 in January.
03/09/2017
Traders torn between stoicism and resignation as Brexit nears
Trip into the unknown produces range of emotions among workers in London’s markets
03/09/2017
Europe's Markets Need Draghi to Fight Germany's Dominance
It's not just that political fears have driven sellers of French government bonds
03/08/2017
New legislation costly for UK’s foreign investors
A massive tax charge will come into effect in the UK next month
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.
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.