09/30/2021
PIABA: 30% of 2020 FINRA Arbitration Awards Went Unpaid
New Report Finds Increased Rates of Unpaid Arbitration Awards and Unpaid Award Money Compared To 2019; 24% of All Awarded Money Last Year Was Never Paid.
Government Regulation
09/30/2021
Further arrangements for the orderly wind-down of LIBOR at end-2021
hese 6 LIBOR settings will be available only for use in some legacy contracts, and are not for use in new business.
09/30/2021
Financial Services & Banking News
The deadline for responses to CP19/21 is 12 October 2021
09/30/2021
EU General Court backs European Commission’s tough stance on merger control “gun jumping”
It underscores why it is critical to have robust procedures in place, not just on paper but in practice, to manage contact between the buyer and the target both before signing and between signing and completion.
09/29/2021
Private Bank Briefing – September 2021
This edition’s Lessons from Enforcement covers a recent case examining the impact of non-financial misconduct on an individual’s fitness and propriety.
09/29/2021
Project Dunbar: international settlements using multi-CBDCs
The project will work with multiple partners to develop technical prototypes on different distributed ledger technology platforms.
09/29/2021
Clyde & Co launches Clyde & Co Academy
The Clyde & Co Academy has been created to address the issue of under-representation in the legal sector for individuals from diverse backgrounds
09/29/2021
Jersey employers take note: statutory redundancy and minimum wage increases
Redundancy: increase in the maximum statutory redundancy entitlement
09/29/2021
GCC Quarterly Review Q3 2021
The third quarter of 2021 saw a number of legal developments in the Gulf Cooperation Council (GCC) region (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates).
09/29/2021
ESG/Sustainable Investments - How Jersey Law is Adapting to Fight Greenwashing
The Investment Business Code of Practice will also be similarly updated in due course.
09/28/2021
UK Government launches consultation to reform the UK’s data protection regime and diverge from EU rules
The European Commission did warn the UK Government when issuing its adequacy decisions that its decisions could be revoked "immediately" if the UK Government weakens its data protection standards
09/28/2021
UK government proposes making flexible working the default
Although the consultation does not propose a ‘right’ to flexible working, it said it wanted to make flexible working the default with a right for an employee to request flexible working patterns from day one of a new job.
09/28/2021
European Green Deal
The “Fit for 55 Package”
09/28/2021
Making gifts under a lasting power of attorney in the UK
In all circumstances, the amount of the gift must be of reasonable value given the value of the individual’s assets.
09/28/2021
US: Regulatory order serves as a message to all about cybersecurity and governance
The Order requires the bank to develop an Action Plan to achieve compliance with the regulations.
09/28/2021
Head sought for bank failure watch group
Jill Britton, JFSC Director of Supervision, commented: “As the regulator, our role is to supervise banks, making sure they are operationally sound and minimising the likelihood of failure.
09/28/2021
FINRA Targets Firms' Social Media Activity
FINRA will look at how firms acquire customers through social media, particularly through outside influencers with large online followings.
09/28/2021
Guernsey Bar hopefuls continue virtual attendance at University of Caen
Importantly, not only were all local firms and employers of aspirants supportive of the solution offered by Carey Olsen but the University of Caen and lecturer Sophie Poirey were equally pleased and excited to embrace the new Caen experience.
09/28/2021
Irish Regulatory Framework for Real Asset Depositaries
It sought feedback from industry on the proposed regulatory framework and earlier this year issued its long awaited guidance1 on the regime.
09/28/2021
Jersey employers take note: statutory redundancy and minimum wage increases
This is an entitlement enshrined under the Employment (Jersey) Law 2003, as amended and is an obligation imposed on all employers to pay to their employees in the event of redundancy.