- Managers of Wealth - Legal - Wealth, private banking and asset management news and opinion

Financial Service & Banking News

The Commission considers there is a role for natural gas and nuclear as a means to facilitate the transition towards a predominantly renewable-based future.

DIFC launches specialised court for digital economy

“The goal of the judicial system and courts in Dubai is to deliver prompt justice in a country where the law prevails,” he added.

CFTC charges Delaware-registered Blockratize

The order finds that, beginning in approximately June 2020, Polymarket had been operating an illegal unregistered or non-designated facility for event-based binary options online trading contracts, known as “event markets.

Final Legal Changes Made in Preparation for Brexit

In addition, Jersey will continue to engage with the EU institutions and Member States on a range of important issues in line with our good neighbour policy.

United Arab Emirates Updates Federal Labour Law

Beginning 2 January 2022, the entirety of the United Arab Emirates’ existing labour law (Federal Law No. 8 of 1980) and any subordinate regulation will be repealed and replaced with the new Federal Decree-Law No. 33 of 2021 (the Labour Law Decree).

SEC Charges Financial Company and Its President with Engaging in Fraudulent Schemes to Boost Stock Price

The complaint alleges that when the existing valuation firm refused to cave to Murstein’s pressure to increase the Bank’s valuation, Murstein fired the firm and hired a new firm to provide an inflated valuation of the Bank.

KENYA: Regulation of Digital Lenders

The Act also provides that the CBK will make regulations necessary to give effect to the Act.

S&C Advises BNP Paribas on $16.3 Billion Sale of Bank of the West

Bank of the West is a California-chartered bank with approximately $105 billion in assets and a footprint in 24 states.

FCA extends climate-related disclosures to include standard listed companies and introduces new guidance

In-scope companies will have to include a statement in their annual financial report

UK nuclear third party liability laws updated from January 2022

The type of claims that can be made have also been expanded under the new regime.

SEC Proposes Rules on Insider Trading

Notably, these proposals only have a 45-day comment period, which is shorter than the more customary 60- or 90-day comment periods.

Compliance deadline set for cyber security regulations in Bahrain

Businesses offering financial services have until March next year to fully comply with new Central Bank of Bahrain (CBB) regulations

Dubai Courts begin decriminalising bounced cheque cases

Criminalisation is limited to cheques issued in bad faith

UK publishes ‘comprehensive’ cyber security strategy

Cyber risk expert Laura Gillespie of Pinsent Masons said that the government’s plans called for “a ‘whole society’ approach” to cyber security.

Offshore Perspective: Updates to HK Listings Rules

The Core Standards are intended to be applied in a unified manner across all listed companies, and so derogation from any of the Core Standards will not ordinarily be available.

UAE Central Bank fines an exchange house for compliance failure

The banking regulator imposed a total penalty of $95,847 against the business

Insolvency Service gains powers to investigate directors of dissolved companies

The legislation also rules out Covid-19 related changes as grounds for material change of circumstances business rate appeals.

Daily Legal Update

The final impact assessment estimates likely costs, benefits and wider impacts of the amendments and will be published alongside the amendments to PPER 1992 on legislation.gov.uk.

New measures to combat the Covid-19 pandemic in the workplace introduced in Luxembourg

Until close of play on 14 January 2022, the Covid-check remains optional for employers.

UK fine for bank over liquidity reporting

The regulator had raised concerns about a “heightened risk” of US dollar liquidity outflows and instructed the bank to achieve and maintain certain metrics in respect of its US dollar liquidity in response.

Government Regulation