08/08/2014
FCA fines Stonebridge insurance firm 8.3 million pounds
The Financial Conduct Authority (FCA) has fined Stonebridge International Insurance Limited (Stonebridge) £8,373,600 in relation to sales of accident insurance products.
Legal, Regulation & Compliance
08/08/2014
European Commission Mulls Future of Insurance Industry Antitrust Exemption by Sidley Austin
Non-renewal of the Block Exemption Regulation – which seems a real possibility – would remove the safe harbor and force insurers and reinsurers to conduct individualized assessments of the types of cooperation at issue.
08/08/2014
Bank Capital Race Not Enough for Basel as Nordics Break Away
Capital isn’t the answer to everything
08/07/2014
Eversheds comment: UK PAC report concludes whistleblowers are not receiving adequate protection
The Report concludes that, in very many cases, employees do not know to whom they should report wrongdoing or malpractice in the workplace or, if they do so, that they are likely to face bullying and victimisation.
08/07/2014
Russia Drafts A Bill To Ban Bitcoin
The legality of bitcoin has been discussed frequently in Russia since the beginning of this year.
08/07/2014
FCA sets out its approach to financial promotions in social media
The FCA sees positive benefits from using social media but there has to be an element of compliance
08/07/2014
Leipzig entangled in web of financial products
The protagonist in this story is the town of Leipzig in the eastern German state of Saxony. Wanting to make a fast buck, town officials offered the publicly-owned waterworks in a deal with an American investor.
08/07/2014
Parabis finance director joins Kennedys
With Fiona joining us, three of our seven business services management team are women.
08/06/2014
ESMA releases responses to MiFIDII/MiFIR Consultation and Discussion papers
The European Securities and Markets Authority (ESMA) has made public the responses it received to its Consultation and Discussion Papers on MiFID II/MiFIR.
08/06/2014
FCA restricts distribution of CoCos to retail investors
In the first use of new consumer protection powers, the Financial Conduct Authority (FCA) will restrict firms from distributing contingent convertible securities (CoCos) to the mass retail market from 1 October 2014.
08/06/2014
Hungary c.bank fines 58 local credit institutions for unlawful services fee hikes
The central bank conducted an investigation to determine whether banks were acting in compliance with consumer protection regulations
08/06/2014
Ogier Legal advises on the launch of the €800 million Mid Europa Fund IV
Mid Europa Fund IV is a Guernsey authorised closed-ended investment scheme established primarily to make controlling investments in market leading companies in Central and Eastern Europe and Turkey (the Region).
08/06/2014
Sidley Austin triumphs for Investec in banker bonus High Court battle
The former bankers argued that they had an unwritten agreement with the bank that their bonuses would be calculated based on an “economic value added” formula, rather than the profit and loss accounts of their desk.
08/06/2014
Bonus bashing rule could put off top banking talent
The new rules on remuneration have been imposed due to concerns over excessive risk taking and bankers’ role in the financial crash of 2008.
08/05/2014
10 Most frequently asked questions by Dalila Ver Elst, Senior Compliance Officer, Maitland
FATCA is US law, but what does “UK FATCA” mean?
08/05/2014
IMA hits out at European body over dealing commission conflict
The Financial Conduct Authority has cracked down on fund managers charging clients for corporate access and revealed last month that only two of the firms it
08/05/2014
C.Agricole starts sanctions talks with U.S. authorities
The bank said it had sent the results of its internal review to the U.S. authorities.
08/05/2014
The Hedge Fund Manager On The FBI’s Most Wanted List
Florian Wilhelm Jürgen Homm, a German hedge fund manager who was on the run for more than five years, is wanted by the FBI for his alleged involvement in a market manipulation scheme designed to artificially improve the performance of eight Cayman I
08/05/2014
Sidley Austin defends client in High Court case against Standard Bank
Sidley Austin has successfully acted for the Mongolian national railway company in a $55m High Court battle against Standard Bank.
08/05/2014
Swiss add names to list to prevent bypassing of Russia sanctions
This latest move, which tracks the individuals and organisations on the European Union's sanctions list, raises the number of people affected to 87 and the number of organisations to 20.