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Singapore to amend financial crime rules for business service providers

The proposals also require nominee directors and shareholders to disclose their nominee status and their nominator’s identity.

Irish Central Bank: insurance platforms must ensure suitability of senior staff

Ireland continues to be among one of the most attractive locations within the EU to establish an insurance or reinsurance intermediary (together, ‘intermediary’) platform.

Managing settlement of construction project claims in Qatar

Achieving amicable settlement of these claims is a top priority for both developers and contractors and will be pivotal to the successful conclusion of projects

UK launches ambitious Trade deal with Gulf Nations

A free trade deal would also open the door to increased investment from the Gulf, supporting and creating jobs across the country.

UK financial services and whistleblowing - time to break the stigma

Although regulated by the Financial Conduct Authority (FCA), much of the regulation of financial services firms is dependent on self-regulation and self-reporting.

Changes to fiduciary regulation in Guernsey

The regulatory regime has been revised recently: The Regulation of Fiduciaries, Administration Businesses and Company Directors, etc (Bailiwick of Guernsey) Law, 2020 (the Law) came into effect on 1 November 2021

The Lummis-Gillibrand Responsible Financial Innovation Act: What to Know

The RFIA has garnered significant attention because it is the first major bipartisan legislation that, if signed into law, would govern the regulation of digital assets.

A tale of two markets: Regulatory divergence between the EU and UK securitisation frameworks

It will be interesting to see how these approaches shape the (two) market(s) as divergence increases.

Obtaining imaging orders from the English courts

The goal of these orders is to preserve evidence at risk of being wiped or destroyed by the responding party.

UK prepares for modernisation of Consumer Credit Act

HM Treasury announced it would publish a consultation on the planned reforms to the Consumer Credit Act by the end of 2022.

Funds with US Investments or Operations – Considerations for Non-US Investors

ECI exposure may also arise even through an investment into a non-US fund if that fund is classified as a partnership for US tax purposes and has certain US assets or activities.

Harneys advises BMR Energy Ltd. on closing second tranche of its US$88 million credit facility

BMR Energy is a developer and owner of renewable energy assets in the Caribbean and Central America and is a business segment of Virgin Investments.

CSSF AML/CFT reporting tool: first reporting period approaches

This module, accessible since January for preparation and submission of AML/CFT external reports under Circular 21/788 and IFM reports under Circular 21/789, has been made available

Belgium: Competition Authority sets out key priorities for 2022

The BCA acknowledges that the Belgian economy has continued to suffer from the consequences of the Covid-19 pandemic in 2021.

Preparing for the PRIIPs KID for UCITS

A PRIIPs KID is a short pre-sale disclosure document aimed at providing retail investors with the information necessary to make an informed investment decision.

CSSF AML/CFT reporting tool: first reporting period approaches

Information on the availability of these reports for subsequent financial years will be provided in a dedicated CISERO FAQ.

UK to delay implementation of Pillar Two

The government has confirmed that it will put back the implementation of Pillar Two rules in the UK until 31 December 2023

Hong Kong SFC seeks to bolster investor compensation remedies as part of a package of enforcement-related reforms

As the SFC is the driving force behind these proposed reforms, there is little doubt that, once granted, they will be quick to use their new powers, significantly impacting the enforcement landscape in Hong Kong.

FCA: single UK listing regime would remove complexity and boost competitiveness

The discussion paper is just that: the proposals are likely to be refined in response to industry feedback

UK firms told to expect ‘increasingly active’ FCA amid cost-of-living crisis

The FCA said its expectations for lenders were based on existing principles and guidance but added that its new consumer duty, expected later this year, will finalise any changes to rules to improve consumer outcomes.

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