04/28/2022
Bank of England ramps up focus on operational resilience
This latest suite of proposals explores some of the same concepts from those papers in the specific context of outsourcing arrangements and FMIs’ engagement of other third parties.”
Government Regulation
04/28/2022
Buying a property in Cote d'Azur? Watch out for the French Civil Code Posted on 6 April 2022
French law dictates that children are entitled to a share of any French property owned by the deceased, even if there is a surviving spouse.
04/28/2022
Abu Dhabi and Dubai launch cryptoasset regulatory initiatives
The company will provide access to cryptoassets through regulated funding, trading and custodial services in dirhams.
04/27/2022
The Global Risks Report 2022: Worlds Apart
It concludes with reflections on enhancing national and organizational resilience, informed by lessons from year two of the pandemic.
04/27/2022
Are you affected by the UK National Security and Investment Act?
Once completed, the checker will send you a brief report summarising the results and offer you a complimentary follow up call with Mishcon de Reya or Taylor Vinters to discuss any next steps required.
04/27/2022
Herbert Smith Freehills: Financial Regulation: Daily Update
The FCA has confirmed that, following the conclusion of a successful pilot, it will expand its Early and High Growth Oversight approach to provide 'closer support' for newly authorised businesses by the end of 2023.
04/27/2022
Trends in African Arbitration
Combined caseloads from the International Centre for Settlement of Investment Disputes (ICSID) that involve at least one party from a sub-Saharan African state have also risen, nearly tripling.
04/27/2022
Conyers advises Hestia Re Ltd. on its establishment and licensing as a special purpose insurer
This was the first catastrophe bond transaction of 2022 sponsored by Kin Interinsurance Network.
04/27/2022
FRC highlights UK modern slavery reporting requirements compliance failures
The report also found a “disturbing disconnection” between modern slavery statements and information provided in end of year annual reports.
04/27/2022
New EU Ban on Selling Investment Funds to Russian or Belarusian Persons
In many cases, EU investment funds do not have any Russian / Belarusian investors or a distribution framework in Russia or Belarus.
04/26/2022
Overview of the New UAE Federal Penal Code
The changes also bring the UAE in line with most other developed nations, which has been a key driving force in the raft of new legislation introduced.
04/26/2022
Final FCA rules on mandatory D&I reporting of UK listed company boards and executive management
The new requirements largely reflect the proposals originally made by the FCA in July 2021
04/26/2022
EDPB issues statement on EU-US new international data transfer arrangements for an ‘enhanced’ Privacy Shield framework
The EDPB looks forward to assessing carefully the improvements that the new EU-US agreement may bring in light of EU law, the case law of the CJEU case law and the previous recommendations the EDPB has made.
04/25/2022
CASS Compliance: The importance of good governance
The FCA frequently discuss these two dimensions in public enforcements cases they issue.
04/25/2022
FCA gives a nod to greater diversity on boards
In addition, amendments have been made to the language used for the targets in relation to ethnic minority background and provide that "Other ethnic group" includes Arab.
04/24/2022
Financial Regulation: Daily Update
In terms of next steps, the FCA says it will continue to monitor firms' compliance with their anti-money laundering (AML) obligations; the regulator also sets out a number of actions for challenger banks.
04/24/2022
FCA review finds weaknesses in some challenger banks’ financial crime controls
Challenger banks aim to compete with traditional high street banks using smarter technology and more up-to-date IT systems.
04/22/2022
UK consumer law enforcement powers to be bolstered
The paper further details forthcoming changes to UK competition and merger control laws and follows a consultation on possible reform last year.
04/22/2022
Central Bank of Ireland makes changes to controlled function roles for financial firms
The CBI has also created another new standalone role, that of head of anti-money laundering and counter terrorist financing compliance (PCF-52). This is in addition to the existing role of head of compliance (PCF-15).
04/22/2022
Cyprus announces expansion of responsibilities of the Financial Sanctions Advisory Committee
The examination of requests in relation to the wrongful freezing of funds at credit institutions.