11/03/2021
IHS Markit's Compliance Solutions for Crypto Providers
Regulators and supervisory agencies are responding by updating current rules and proposing new ones.
Government Regulation
11/03/2021
CRD6 could shut out cross-border financial services into the EU
In any case, it seems that the proposals would end national cross-border licences and exemptions which enable cross-border services into EU Member States.
11/03/2021
FCA acts to help investors make more informed ESG investment decisions
The FCA is committed to helping investors put environmental, social and governance (ESG) matters at the heart of their investment decisions.
11/03/2021
Regulatory grid gives insight into future UK financial services policy
Details of the initiatives that UK authorities active in the financial services sector will work on in the next 24 months were outlined in an updated regulatory grid.
11/02/2021
EU Commission designates replacement rates for CHF LIBOR and EONIA
The CHF LIBOR is the rate of interest at which large multinational banks access the wholesale, unsecured funding market to fund themselves in Swiss francs.
11/02/2021
Definitions of “Benefit” - Jersey’s Royal Court offers Useful Guidance on Trusts and Non-Financial Benefits
The Court confirmed in this regard that the interpretation of “benefit” applies equally to an application to vary a trust as it does to an appointment of income or capital.
11/02/2021
The ICO issues its response to the UK Government's proposals to reform the UK GDPR
While the ICO maintains that it supports the UK Government's review of the country’s data protection rules and the purpose behind that review, it raises many concerns about the proposals put forward by the Government.
11/02/2021
The Without Prejudice Rule – When does it apply?
The policy considerations underlying the rule are that parties should be encouraged to settle their disputes out of court and should not be deterred by fear that their settlement negotiations might be used against them in future proceedings.
11/02/2021
Implementation Automatic Exchange of Information(AEOI) Reporting – things to consider
What many members of industry have since found, especially those members who perform reporting across multiple jurisdictions, is that reporting is in fact not wholly standardized.
11/01/2021
Updated Guidance for a Risk-Based Approach to Virtual Assets and Virtual Asset Service Providers
The FATF standards require countries to assess and mitigate their risks associated with virtual asset financial activities and providers; license or register providers and subject them to supervision or monitoring by competent national authorities.
11/01/2021
Financial Crime in Latin America and the Caribbean: Understanding Country Challenges and Designing Effective Technical Responses
The 300-page report provides a country-by-country overview of the scope of financial crimes and main threats facing individual countries.
11/01/2021
UAE intensifies efforts to combat money laundering and terrorism financing crimes, and strengthen deterrent penalties for perpetrators
The legal authority and powers given to these organisations are part of supportive measures aimed at helping them detect crimes and its perpetrators without prejudice to the legislation in force.
11/01/2021
Digital Transformation of AML/CFT for Operational Agencies
The FATF is continuing its work on digital transformation, focusing on how the use of technology and advanced analytics could support ML/TF investigation and information exchange.
11/01/2021
Mitigating the Unintended Consequences of the FATF Standards
The project focuses on four main areas: de-risking; financial exclusion; undue targeting of NPOs; and curtailment of human rights (with a focus on due process and procedural rights).
11/01/2021
High Court ruling on witness statement rules show need for careful compliance
Coleman said this highlighted the courts’ willingness to sanction those who were non-compliant with the rules.
11/01/2021
Industrial action
Industrial action can take the form of either a strike or 'industrial action short of a strike' - for example, an overtime ban or work to rule.
10/31/2021
BERMUDA: Changes to rules on Permanent Residency Certificate coming
The Government said that these changes support its priority of achieving a simplified, fair and modern framework for immigration in Bermuda. T
10/31/2021
DOJ Further Ratchets Up Scrutiny in Corporate Investigations
The intent behind this policy change is to create parity between the way DOJ treats individual and corporate criminal histories.
10/30/2021
Responsible investment consultation: UK Charity Commission publishes responses
A point raised in the consultation was whether the term ‘responsible investment’ is helpful.
10/29/2021
Banking Package 2021: new EU rules to strengthen banks' resilience and better prepare for the future
Today's package finalises the implementation of the Basel III agreement in the EU.