09/12/2021
Watchdog hits Grant Thornton with £4m fine over Patisserie Valerie collapse
The Financial Reporting Council’s fine over the auditing of one of Britain’s best-known cafe chains could be announced as soon as this month, Sky News learns.
Government Regulation
09/10/2021
New rules for investment firms remuneration policies as of 31 July 2021 in Luxembourg
Specific rules apply in case the investment firm benefits from extraordinary public financial support.
09/10/2021
German finance ministry raided in money laundering probe
Probe puts spotlight on financial crime ahead of elections
09/10/2021
FCA consults on Handbook and Enforcement Guide changes using new FS Act 2021 cancellation and variation power
The Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) have published a joint Dear CEO letter setting out their expectations of firms when undertaking trade finance activity.
09/10/2021
Bermuda | Three Day Registration for Special Purpose Insurers Issuing Bonds
The BMA is a well-respected financial markets regulator, a reputation which extends beyond Bermuda, and has been earned in part through the BMA's ability to innovate and collaborate with market participants.
09/10/2021
BVI Court Orders Indefinite Committal Of Extra - Territorial Contemor
Where a party to BVI proceedings is found to be in contempt, the court has a discretion as to whether it will continue to hear the contemnor.
09/10/2021
Latham & Watkins Advises on India's First Sustainable AT1 Notes Issuance
The transaction is also Axis Bank’s largest ever single-tranche USD bond issuance to date.
09/09/2021
China's new personal information protection law setting new grounds
Unlike the Cybersecurity Law and Civil Code which focus on the data subject’s consent for PI handling, the PIPL authorizes the handling of PI in the absence of an individual’s consent
09/09/2021
UAE's anti-money laundering body endorses framework for virtual assets
In 2019, the financial crimes watchdog, the Financial Action Task Force, announced that cryptocurrency firms would be subjected to rules to prevent the abuse of digital coins such as bitcoin for money laundering.
09/09/2021
SEC & CFTC Enforcement Update
Three of the CFTC’s four actions concerned commodity pool fraud.
09/08/2021
No phone zone: mobile phone bans to improve safeguarding and behaviour in UK
Although the majority of schools have policies in place limiting the use of phones in classrooms, rules and sanctions have not always been applied consistently.
09/08/2021
EU Foreign Subsidies and Antitrust: an ongoing quest towards certainty and clarity
In a nutshell, if the Commission considers that foreign subsidies might distort the internal market, it can investigate and impose redressive measures.
09/08/2021
Luxembourg: driving the EU’s historic recovery programme
Linklaters Luxembourg was appointed by Credit Agricole Corporate and Investment Bank, as arranger, to implement a programme of debt issuance for the EU and Euratom.
09/08/2021
European Commission Publishes New AML / CFT Action Plan
The proposals aim to facilitate effective and consistent cross-border application and implementation of EU AML / CFT rules and introduce a new more stringent enforcement framework in the EU.
09/08/2021
Financial Services & Banking News
The Parliament will consider the proposed Directive during its plenary session to be held from 18 to 21 October 2021.
09/08/2021
UAE Announces New Federal Data Law
The Data Law seeks to find harmony between privacy, cost, compliance and commerce.
09/08/2021
PRIIPs KID – Commission publishes its proposed Level 2 RTS
The European Commission has formally adopted its proposed Level 2 measures regarding the content of the PRIIPs KID along with a delay to their application.
09/07/2021
Accidental Americans fundraise for latest US legal action
In a bid to force American embassies to resume processing citizenship renunciation requests
09/07/2021
Grand Court confirms test for liquidator independence
No other creditors expressed opposition to the appointment of the VLs and on the eve of the hearing, another significant creditor confirmed in evidence that it did not oppose their appointment.
09/07/2021
Snapshot: Cayman Islands Antecedent Transactions
These may also apply to Limited Liability Companies, Partnerships, Exempted Limited Partnerships and, in certain circumstances, to foreign companies, but this summary focuses on CayCos.