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EU tightens screw on shell companies with minimum substance test

The rules will also increase transparency around the use of shell entities for tax authorities with greater information exchange protocols.

FCA publishes final IFPR remuneration disclosure rules

The FCA was also requested to clarify how the MIFIDPRU rules

Art dealers urged to act against criminals looking to launder money

Department of Justice is acting under new laws to intensify regulatory inspections of art traders and intermediaries

Public Statement Concerning The Regulatory Investigation Of The Isle of Man Financial Services Authority

Standard has proactively brought about operational changes in an effort to address the issues identified and the concerns of the Authority.

HSM: Financial Regulation Daily Update

The opinion also includes a report on the impact of de-risking on access to financial services, which considers a number of issues in more detail.

Prime time for updated arbitration rules for financial disputes? A review of the P.R.I.M.E. Finance Arbitration Rules 2022

This Update takes a close look at the key features of the 2022 Rules by reference to some of the reservations that have been expressed in the past, and includes a brief comparison with other major institutional rules.

Mergers - the CMA’s jurisdiction and procedure: CMA2

Guidance for businesses and their advisers on CMA's procedures for operating the merger control regime under the Enterprise Act 2002.

Financial Service & Banking News

The Commission considers there is a role for natural gas and nuclear as a means to facilitate the transition towards a predominantly renewable-based future.

DIFC launches specialised court for digital economy

“The goal of the judicial system and courts in Dubai is to deliver prompt justice in a country where the law prevails,” he added.

CFTC charges Delaware-registered Blockratize

The order finds that, beginning in approximately June 2020, Polymarket had been operating an illegal unregistered or non-designated facility for event-based binary options online trading contracts, known as “event markets.

Final Legal Changes Made in Preparation for Brexit

In addition, Jersey will continue to engage with the EU institutions and Member States on a range of important issues in line with our good neighbour policy.

United Arab Emirates Updates Federal Labour Law

Beginning 2 January 2022, the entirety of the United Arab Emirates’ existing labour law (Federal Law No. 8 of 1980) and any subordinate regulation will be repealed and replaced with the new Federal Decree-Law No. 33 of 2021 (the Labour Law Decree).

SEC Charges Financial Company and Its President with Engaging in Fraudulent Schemes to Boost Stock Price

The complaint alleges that when the existing valuation firm refused to cave to Murstein’s pressure to increase the Bank’s valuation, Murstein fired the firm and hired a new firm to provide an inflated valuation of the Bank.

KENYA: Regulation of Digital Lenders

The Act also provides that the CBK will make regulations necessary to give effect to the Act.

S&C Advises BNP Paribas on $16.3 Billion Sale of Bank of the West

Bank of the West is a California-chartered bank with approximately $105 billion in assets and a footprint in 24 states.

FCA extends climate-related disclosures to include standard listed companies and introduces new guidance

In-scope companies will have to include a statement in their annual financial report

UK nuclear third party liability laws updated from January 2022

The type of claims that can be made have also been expanded under the new regime.

SEC Proposes Rules on Insider Trading

Notably, these proposals only have a 45-day comment period, which is shorter than the more customary 60- or 90-day comment periods.

Compliance deadline set for cyber security regulations in Bahrain

Businesses offering financial services have until March next year to fully comply with new Central Bank of Bahrain (CBB) regulations

Dubai Courts begin decriminalising bounced cheque cases

Criminalisation is limited to cheques issued in bad faith

Government Regulation