10/25/2021
The Anti-Money Laundering Act of 2020
Congress also increased penalties for violating the BSA.
Government Regulation
10/25/2021
DFSA introduces regulatory framework for Investment Tokens
Forms the first of two phases of the DFSA's Digital Assets regime
10/25/2021
Extension to Global Citizen Concierge Program
The annual fees are relatively low and a successful applicant will pay US$1,500 per annum for their Certificate (a fee which includes one dependant), with fees of US$500 for each additional dependant.
10/25/2021
Revision of fiduciary regulatory legislation
The New Fiduciary Law will be complemented by revised rules, codes and guidance coming into force on the same day
10/25/2021
Design in haste, repent at leisure
The news that just hours after it was launched, a security flaw was discovered in Jersey's digital covid-19 certificate is disappointing but probably not surprising.
10/25/2021
Daily Legal Update
Fully vaccinated passengers and most under 18s arriving from non red-list countries can use a lateral flow test on or before day two of their arrival in England.
10/24/2021
Investment Firms Prudential Regime final rules published
It will refocus requirements and expectations away from the risks that firms face, to also consider and look to manage the potential harm firms can pose to consumers and markets.
10/22/2021
The Ministry of Finance announces new measures to attract foreign investment and enhance business activity in Cyprus
The permits will be issued immediately within one month and will have a duration of up to three years.
10/22/2021
Changes to SPACs regulation will impact European tech M&A
That is changing, though, with several countries, including the UK, embracing reform in the hope of encouraging greater investment to enable innovative businesses to grow.
10/22/2021
Dutch regulatory authorities strengthen cooperation over regulation of digital activities
The AP also announced that the four authorities will jointly invest in knowledge, expertise and skills and will explore if they can support each other, for example by tackling problems in the digital market together.
10/22/2021
Jurisdictions under Increased Monitoring - October 2021
The FATF does not call for the application of enhanced due diligence measures to be applied to these jurisdictions, but encourages its members and all jurisdictions to take into account the information presented below in their risk analysis.
10/22/2021
Cyprus to Revoke 45 Golden Visas Issued Illegally
Because of obvious irregularities revealed by the media and the subsequent criticism by Brussels, it was terminated in 2020.
10/22/2021
CFTC Awards Nearly $200 Million To A Whistleblower - Largest Award To A Single Whistleblower
The whistleblower’s claim in connection with a third related action by a state regulator was denied because the whistleblower’s information was never shared with the state regulator.
10/22/2021
FATF Public Statement on Pandora Papers
The FATF has long warned of the dangers associated with networks of anonymous shell companies and legal arrangements.
10/21/2021
UK Government publishes National Artificial Intelligence Strategy
This announcement comes only a few months after the European Commission published its own comprehensive proposals for regulating AI technologies.
10/21/2021
Luxembourg Securitisation Bill and Amended Draft Law : A bright future for CLOS
While very flexible, the Law contains a certain number of restrictions that constituted an impediment to particular types of arrangements and structures.
10/21/2021
English law trumps Italian contractual arguments in swaps litigation
The English High Court interpreted the Italian Supreme Court decision as being based on principles of Italian contract law
10/21/2021
UK government commits to regulating for future payments innovation
Financial regulation expert Andrew Barber of Pinsent Masons, the law firm behind Out-Law, said this suggested that the government considered the current voluntary contingent reimbursement model code for APP scams was not providing enough protection for cu
10/21/2021
The Climate Financial Risk Forum publishes second set of guides
A second round of guides to help financial firms manage climate-related financial risk has been published by the Climate Financial Risk Forum (CFRF).
10/21/2021
Netherlands passes law for more gender equality in leadership positions
The new regulation replaces an earlier ordinance that was based on the 'comply or explain' principle and applied from 2013 to 2020