02/12/2017
FCA opens discussion on regulatory approach to open-ended funds investing in illiquid assets
The FCA sets out some examples of possible policy approaches to stimulate debate.
Legal, Regulation & Compliance
02/10/2017
Brexit white paper published – where now for Financial Services?
While certainty and clarity are still some distance away, this article examines the implications of the speech and the paper for the financial services industry as Britain navigates its departure from the EU.
02/10/2017
Looming Regulations Will Drive Regtech Adoption in 2017
With an increase in regulation requiring automated processes and accurate data, adoption of so-called regtech tools is likely to snowball.
02/10/2017
Hargreaves Lansdown breaches company law on dividend payments
The company also stressed that the issue ‘will have not have any effect on the company’s financial position’.
02/10/2017
PRA imposes £17.85m fine on The Bank of Tokyo-Mitsubishi UFJ Limited and £8.925m fine on MUFG Securities EMEA plc for failing to be open with the PRA
The DFS enforcement action also had implications for the then Chair of MUS(EMEA).
02/10/2017
How the Flash Crash Trader’s $50 Million Fortune Vanished
The extent of Sarao’s culpability for the flash crash is fiercely contested.
02/10/2017
Steven Maijoor's address to a Alde seminar on the review of the European supervisory authorities
ESMA needs to have the power to impose higher fines on supervised entities.
02/10/2017
DWF seals association with Saudi law firm
The Kingdom of Saudi Arabia is a hugely important jurisdiction for DWF as we grow in the Middle East.
02/10/2017
German, Swedish Banks Back Tougher Beneficial Owner Rules
Tougher beneficial ownership rules that make it easier to identify the true owners of companies would be helpful.
02/10/2017
Gibraltar insurance regulator insists its standards as high as those in Ireland, after concerns raised
Central Bank staff are understood to have raised issues around the financial viability of some insurance providers
02/10/2017
Italy: Concept of beneficial ownership clarified
The tax authorities determined that the beneficial owner of the income was the ultimate US parent of the group and denied the lower rate of withholding tax.
02/09/2017
FCA issues warning over poor DB pension transfer advice
Left them at serious risk of unsuitable outcomes.
02/09/2017
Capgemini Announces Open Banking Solution for PSD2
Solution Helps Banks and Payment Service Providers Create New Digital Opportunities from PSD2 Compliance
02/09/2017
Bespoke Brexit deal for financial services challenging
The only solution that could potentially take into account all those issues and sensitivities would be a bespoke deal for financial services.
02/09/2017
Ex-IMF chief Rato, already in dock, accused of 'tax fraud'
Half of the undeclared income was concealed deliberately in a tax evasion system
02/09/2017
Duo to earn at least $166m from stock exchange merger
Meanwhile, Deutsche Börse, which has given Linklaters the mandate, is expected to spend about $77m on legal advice.
02/09/2017
Central Bank expresses concern over Gibraltar passporting its services to Ireland
The Financial Services Commission is believed to have taken up the invitation to explain its processes to the authority.
02/09/2017
Aviva offloads stake in life insurance joint venture
With regulatory approval already received, the sale is expected to close on 1 April.
02/09/2017
CIBC Opts for Wolters Kluwer’s Regulatory Reporting Hub in Asia and UK
The bank has specifically signed up to use Wolters Kluwer’s OneSumX Regulatory Reporting, including the firm’s Regulatory Update Service.
02/09/2017
European Regulators Explain How Blockchain Can Benefit Financial Markets
ESMA believes the technology promises more efficient post-trade services, enhanced reporting capabilities and reduced costs.