05/06/2022
Financial Services & Banking News
The updated ITS specify the data collection for the supervisory benchmarking exercise of 2023 in relation to the internal approaches used in market and credit risk and IFRS9 accounting.
Government Regulation
05/06/2022
Amendments to the Limited Partnerships (Jersey) Law 1994
The Amendment Law is primarily designed to modernise and clarify aspects of the Jersey LP Law
05/06/2022
Dentons appoints Co-heads of Europe Compliance and Investigations Group
The group is responsible for developing and delivering solutions, tools and thought leadership to help clients manage their growing compliance burden and manage regulatory and reputational risk.
05/04/2022
Financial Regulation: Daily Update
The European Banking Authority has published a Discussion Paper (DP) on the role of environmental risks in the prudential framework
05/04/2022
Harneys (Jersey) legal services
Jersey is a leading international finance centre recognised for its political and economic stability and robust regulatory framework.
05/04/2022
Addleshaw Goddard Financial Services & Banking News
In regards to corporate criminal liability, the Government intends to engage promptly with the Law Commission on the findings of the review once it has concluded but notes it is important that any reforms are proportionate, and evidence based.
05/04/2022
Latest IR35 case highlights employment status ‘complexities’ for UK businesses
The court confirmed that ‘mutuality of obligation’ between the parties and the right of control are necessary for there to be an employment relationship.
05/04/2022
The Chancellor announces a £25 million “fraud squad” to recover £5 billion
There has been recent criticism of the UK’s role in illicit finance and the UK Government’s efforts to tackle serious fraud.
05/04/2022
A post-pandemic era: brewing time for an organisational culture crisis?
The FRC has noted that “global shocks and societal changes can also work as a prompt to reviewing or reprioritising culture”.
05/03/2022
US FinCEN Warns Financial Institutions About Activities of Kleptocracies and Foreign Corruption
This Legal Update summarizes some of the key points that FinCEN highlighted to help financial institutions identify potential indicators of kleptocracies and corrupt foreign public officials.
05/03/2022
The new UAE Labour Law: what employers need to know
The law is designed to enhance employment rights
05/02/2022
The New Era of China's Belt and Road Initiative
Company law and regulations in these jurisdictions are also flexible and adaptable to the needs of clients from other jurisdictions.
05/02/2022
Herbert Smith Freehills Financial Regulation Daily Update
The PRA will publish a Policy Statement on the definition of a simpler-regime late 2022 or early 2023.
05/02/2022
Restructuring the Offshore Debt of Chinese Real Estate Developers
The winding up petition serves as a backstop to the restructuring
05/02/2022
SEC proposes expansive climate-related disclosure rules
Under the new rules, companies would be obligated to present sweeping and detailed climate-related disclosures in their annual reports and registration statements.
04/29/2022
Updated Global Financial Regulation, Transparency, and Compliance Index
The Index is a simple and understandable ranking of the extent to which individual countries adopt, comply with, and enforce a set of global standards.
04/29/2022
Guidance for employers: who is permitted to take leave for the bank holiday to commemorate the Queen's Platinum Jubilee?
There is no statutory requirement in Guernsey to give employees paid annual leave, enhanced rate of pay, or time off in lieu in respect of public and bank holidays.
04/29/2022
UK’s digital watchdogs take a closer look at algorithms as plans set out for year ahead
Every day, we access services that process data using a wide variety of automated systems.
04/29/2022
Sanctions licensing in the United Kingdom Overseas Territories
The only exception to the prohibition on the asset freeze and to allow a Territory person to deal with the frozen funds or economic recourses would be to apply to the competent authority of the United Kingdom Overseas Territories for a financial sanctions
04/29/2022
Registering security in the British Virgin Islands
Although there are no filing or registration requirements in the BVI which affect the validity of a charge, the Act provides a robust security registration system that enables a secured party to register a charge and secure its priority.