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FCA obtains bankruptcy order against Mohammed Maricar following unlawful CFD forex trading promotion

Mr Maricar has failed to make any payment in relation to the High Court’s restitution order.

OFSI imposes monetary penalty on fintech company for breach of financial sanctions

TransferGo is a UK company which carries out payment transfers.

Across the world, governments are driving change in the ESG sphere and requiring greater accountability for ESG issues.

The European Union has in many respects been a first mover in global efforts to legislate on ESG. F

Financial Services & Banking News

Given the considerable legal uncertainty surrounding digital assets, the FMLC welcomes the Law Commission’s Digital Assets Project and the prospect of law reform.

‘Comply or explain’ diversity targets proposed for UK listed company boards

The ‘comply or explain’ targets proposed by the FCA are for at least 40% of the board to be women; at least one senior board position to be held by a woman; and at least one board member to be from a non-white ethnic minority background.

Financial Regulation Daily Update

Feedback is requested by 17 September 2021.

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.

Government Regulation