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Changes to normal minimum pension age – impact on transfers

The legislation to make this change will be set out in the Finance Act 2022 and has now been issued in draft.

FSB Statement to Support Preparations for LIBOR Cessation

Active transition of legacy contracts remains the best way for market participants to have control and certainty over their existing arrangements.

Transforming a black swan into a phoenix the British Virgin Islands’ solution to standalone injunctive relief

Dispute Resolution International is distributed to all members of the IBA Dispute Resolution Section, giving it a readership of approximately 4,000. It is published twice a year and was launched in May 2007.

UK IFPR: treatment of credit risk items falling outside of the K-Factors

It is unclear how IFPR firms are meant to address this lacuna.

COVID-19 Commercial Rent Arrears: UK Government Publishes Draft Arbitration Rules

The Bill includes passing references to appealing an arbitration award.

Credit Suisse's Settlement Under Scrutiny

Credit Suisse settled tax fraud allegations with the U.S. Justice Department (DoJ) for $2.6 billion.

Advance drafts of legislative package from MiFID II/MiFIR review: What are the key points?

The amendments to MiFIR and MiFID II are the output of the MiFID II review.

US IRS Issues Carried Interest Reporting Guidance

The new rules require extensive disclosure of how taxpayers have applied such rules. Michelle Jewett, Mark Leeds, Greg Matlock and James Kelly, all tax lawyers in the Mayer Brown tax group who do extensive work with issuers and holders of carried interest

EU formally adopts public CbC reporting

Subsidiaries or branches below the revenue threshold also will be required to publish their tax information if they are deemed to exist only to help the group avoid the new reporting requirements.

Enforcement of local and foreign arbitral awards in South Africa

The development of an online filing system and the creation of an AFSA Southern African Development Community (SADC) division with a panel of International commercial arbitrators are a welcomed advancement.

SFC suspends licence of an officer for internal control failures

On 1 November the SFC publicised that it had suspended the licence of Eric Liu Ching Ming (of Fulbright Securities Limited) for six months.

HKMA takes disciplinary actions against four banks

In addition, all four banks contravened the requirement of establishing and maintaining effective procedures for carrying out their duties in relation to ongoing CDD under the AMLO,

Enforcement of local and foreign arbitral awards in South Africa

The need to do this typically arises where the opposing party in arbitration against which the award has been issued refuses to comply with the arbitral tribunal’s decision.

Finma sanctions two private banks for 'seriously violating supervisory law'

FINMA opened enforcement proceedings against Banca Zarattini in August 2019 to investigate information it had received regarding possible violations of money-laundering rules.

Amendments on bankruptcy - Federal Decree Law No. 35

The newly passed amendment provides clarification and market confidence boost on the liabilities of individuals in the case of corporate bankruptcy obligations

FATF Consolidated assessment ratings

This table provides an up-to-date overview of the ratings that assessed countries obtained for effectiveness and technical compliance (last updated on 16 November 2021).

USA terminates ZKB’s deferred prosecution agreement

The agreement started in 2018, following a seven-year tax dispute.

Recent update to BVI Legislative review - Probates (Resealing Act) 2021

The new Act expands that list to the other Commonwealth jurisdictions, plus non-Commonwealth jurisdictions that use the common law rather than civil law.

FPC: Cloud Adoption

The regulators have now taken an action to review the need for additional policy measures

EBA issues requirements on institutions’ Pillar 3 disclosure of interest rate risk exposures

The standards will amend the comprehensive ITS on institutions’ public disclosures

Government Regulation