10/15/2021
UK finalising scope of LIBOR legacy regime
The regulator confirmed the methodology it would require LIBOR’s administrator to use for these synthetic rates, which will no longer be representative of their underlying markets.
Government Regulation
10/15/2021
How share plans relate to European tech M&A and the digital skills shortage
The European Commission has said that 70% of businesses report a lack of staff with adequate digital skills as an obstacle to investment.
10/15/2021
China’s central bank continues to tighten regulation of fintech
The government may require companies to provide more access to their data, business processes, and product information.
10/14/2021
Financial complaints data highlights need for firms to maintain robust controls
Complaints relating to affordability continue to feature heavily in the FOS’s caseload, together with a troubling, if not surprising, uptick in cases relating to fraud and scams.
10/14/2021
Build a security culture to manage cyber risk
A transparent, supportive and open security culture will make a business more resilient to evolving cyber threats by empowering their people to make the right decisions.
10/14/2021
Macfarlanes Investment management update
Regulations that came into effect on 1 October 2021
10/14/2021
Cayman limited partner protections
The fund documentation invariably contains extensive details of the general partner's rights, powers and protections.
10/14/2021
UK judge rules pension losses lawsuit should have happened in Gibraltar
The Castle Trust Group was formed over 20 years ago and has represented a range of clients including banks, quoted companies, wealthy individuals and pension funds.
10/14/2021
ICO response to DCMS consultation on reform of the UK's data protection regime
The ICO, unsurprisingly, emphasises maintaining current privacy standards and, on the issue of data transfers, underlines the importance of maintaining EU adequacy.
10/14/2021
What to do if you were stuck in the UK due to the pandemic
Instances which may be considered exceptional can include medical emergencies which prevent that person from leaving the UK and are beyond their control.
10/13/2021
Ogier in Guernsey advises Disruptive Capital's £125 million Euronext Amsterdam listed SPAC
Disruptive is also the first SPAC on Euronext Amsterdam to be listed and traded in pounds sterling.
10/13/2021
ESMA publishes Final Report on notification requirements for STS synthetic securitisations
The European Commission will now decide whether to endorse the draft technical standards
10/13/2021
DOJ Announces New Civil Cyber-Fraud Initiative
Deputy Attorney General Monaco called for Congress to designate a single mechanism where victims can file reports to the federal government to be shared immediately with the DOJ and US Department of Homeland Security.
10/13/2021
Milestone Agreement Reached by 136 Countries on Significant Changes to the Global Tax Landscape
The agreement included an implementation plan that laid out the key milestones and timing that stakeholders can expect in order to implement Pillar One and Pillar Two by the end of 2023.
10/13/2021
UK Competition Appeal Tribunal certifies first excessive pricing class action
The claim is only the second competition case to receive CPO certification, after the follow-on action brought by former financial ombudsman Walter Merricks against Mastercard over credit card interchange fees.
10/13/2021
Fiduciary Duty in the 21st Century: ESG, B Corps and a legal revolution
The sustainable- and impact-minded revolution, which incorporates concepts like ESG but also things like B Corporations, has gathered huge momentum in recent years.
10/13/2021
Jersey Court declines to follow Bermuda Court on the role of protectors
The Court also commented that full and open discussion is expected between trustee and protector
10/12/2021
EU considers reform of general pharma law
A “transferable exclusivity voucher” is one of the possible new incentives the European Commission is considering to address antimicrobial resistance.
10/12/2021
European court rules companies cannot sue EU states over environmental laws
The case provides EU member states who wish to implement climate conscious policies a degree of security to continue those initiatives without the fear of arbitration from investors
10/12/2021
Caribbean Regulatory Update - Q4 2021
The Financial Investigation Agency Act, 2003 has been amended to enhance the FIA's supervisory powers in relation to financial institutions