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

One Bite at the Apple or Two? The FTC Warns Companies of Potential Post-Waiting Period Investigations

Whether these letters will undermine seriously the HSR Act review framework

Mauritius: National Payment Systems Regulations - Key Features

The Regulations are being issued two years after the promulgation of the National Payment Systems Act 2018 (NPS Act) in January 2019.

OCC To Propose Rescission Of 2020 CRA Final Rule

The 2020 rule, previously covered by WBK here, amended the OCC regulation implementing the CRA.

CSBS Issues Model Prudential Standards for Nonbank Mortgage Servicers

Additionally, the corporate governance section includes the requirements for the board of directors, internal audits, external audits, and risk management.

Constructive Trusts of Immovable Property – Guernsey and Jersey Law’s Differing Paths

One of the issues in dispute between the parties in SFO concerned the ownership of four Jersey situated properties and specifically, whether those properties belonged beneficially to a certain individual

Support for ‘flexi-job’ apprenticeships in England under revised scheme

No changes have been proposed to the apprenticeship levy paid by the largest employers, through which the scheme is part-funded.

SPACs in the UK – the new listing rules and their potential impact on deal activity and claims trends

The rationale for this change is to provide protection to investors at a stage when there is still limited public information available.

Using provisional liquidation offshore to preserve bondholder claims under keepwell deeds (Japanese) An example of preserving the rights of corporate creditors based on keepwell deeds using offshore provisional liquidation

An important element of Keepwell Deed is that the Chinese parent company undertakes obligations to its subsidiaries.

Coronavirus updates for UK employers

This option raises some data protection and privacy issues and the Government makes it clear in its guidance to employers that they must adhere to data protection legislation.

Conduct risk frameworks: adapting to change

Indeed, Nikhil Rathi’s recent speech on transforming the FCA to being a more proactive and forward looking regulator warned that “firms should expect us to be even more rigorous on upholding high standards – especially on governance, con

The French Competition Authority aligns its method of calculating fines with the European Commission

Inflationary effect on future fines

Billions to be saved from centralising government procurement, says Maude

There is much to gain in moving to a centralised approach for procurement for a buyer like central government.

China's central bank vows to maintain tight cryptocurrency regulation

The bank claimed that its monetary policy would be flexible, targeted, reasonable and appropriate.

European Green Deal

The “Fit for 55 Package”

South Africa’s AI patent approval could trigger innovation and abuse

South Africa has approved the first patent that identifies an AI as its inventor. It could unlock a new era of invention – and of intellectual property abuses.

Isabel dos Santos ordered to return to Angola $500 million in shares ‘tainted by illegality’

An international tribunal ruled that the billionaire and her late husband corruptly obtained a lucrative stake from the state oil company Sonangol.

The regulation of competition in UK digital markets is changing

The government is proposing to place the work of the DMU on a statutory footing and its consultation considers the powers the body should have when carrying out its functions.

French Law Commission recommends revamp of anti-corruption laws

This was because HATVP is independent from the executive and has more budgetary and functional autonomy than the AFA.

German court rules on the right to access under the GDPR

This means that it includes internal documents and correspondence with or about this person.

UK proposes new tax regime for fund asset holding companies

The government issued a second consultation on the proposals in December and has now set out the plans for reform in draft legislation, a policy paper and a consultation response document.

Government Regulation