01/20/2017
Bucharest Court rejects merger of Patria Bank, Carpatica Commercial Bank
The merger process of the two banks received the approval of the National Bank of Romania (BNR) already on 29 November 2016.
Legal, Regulation & Compliance
01/20/2017
Brussels races to amend rules that hurt pensions industry
EU derivatives regulations scheduled for 2018 set to strain occupational schemes
01/20/2017
MannBenham Advocates have been voted Law Firm of the Year
Citywealth International Financial Centre Awards were established to highlight the excellence of the advisers and managers in the private wealth sector
01/20/2017
Wealth Manager Sanctioned For Breaking SIPP Promise
The FCA says the advice firm failed to declare all the transfer to SIPPs and recommended five other customers to transfer to two other AIPP providers in the same period.
01/20/2017
HSBC voluntarily agrees to provide approximately £4m redress for historical debt collection practices
As it did not reflect the actual and necessary costs of collecting the debt.
01/19/2017
EBA/ESMA report on the interaction of CRR with EMIR
The report calls for the requirements for credit, market, and counterparty credit risk in the CRR to be clarified.
01/19/2017
UK and Hong Kong regulators enter into co-operation agreement to foster collaboration and promote innovation
This is the fifth such co-operation agreement that the FCA has entered into (with previous agreements being concluded with regulators in Australia, China, Singapore and South Korea) and the first such co-operation agreement that the HKMA has entered into,
01/19/2017
Tax reporting under CRS to commence in 2017
One of the complexities that CRS throws up is where Cayman fund managers have a broad mix of non-US taxable investors that need to be identified and reported
01/18/2017
Cyprus Market Abuse Law - PDMRs and closed periods
In turn the issuer must promptly make the information public and no later than three business days after the transaction.
01/18/2017
FCA takes first criminal action against an individual acting as unlicensed consumer credit lender
The first time that the FCA has taken criminal action in a case related to its consumer credit powers.
01/18/2017
Deutsche Bank Agrees to Pay $7.2 Billion for Misleading Investors in its Sale of Residential Mortgage-Backed Securities
Deutsche Bank’s Conduct Contributed to the 2008 Financial Crisis
01/18/2017
RBC acquitted in Bahamian tax fraud case
The prosecuting judge filed a notice of appeal.
01/18/2017
Eastern European criminals exploit Scottish ‘tax haven’
The number of limited partnerships established in Scotland, where they benefit from greater secrecy and incur fewer tax liabilities than in the rest of Britain, has grown rapidly.
01/18/2017
Russia cbank puts Rosneft's bank in charge of Orthodox lender
The central bank is now in the midst of cleaning up Russia's banking system.
01/18/2017
Slovenia and US confirm recognition of pension insurance
The agreement will make it easier for many highly skilled Slovenians to return after a period of work in the US
01/18/2017
Devoise Advises Rolls-Royce in Coordinated Resolutions with UK, U.S. and Brazil Investigating Authorities
Debevoise was engaged by Rolls-Royce in early 2012 to assist with certain enquiries from the SFO and to lead the subsequent internal investigations.
01/18/2017
BRIEF-Thaihot Group's unit to invest in CITIC Capital London Mayfair Property Fund
Says unit signs agreements to invest for property project in London
01/17/2017
Herbert Smith Freehills - Financial regulation update
FSCS plan and budget 2017/18
01/17/2017
Two sentenced in insider dealing case
A clear example for those who are tempted to insider deal, that they are more likely to be caught
01/17/2017
UK Government launches review of Limited Partnerships
A Limited Partnership is a type of business made up of a number of partners, who can be people or other business entities.