04/04/2022
Financial Regulation:Daily Update
Reporting counterparties should report a LEI for non-EEA third country issuers where one is available and continue engaging with non-EEA third country issuers to encourage them to acquire a LEI if not.
Government Regulation
04/04/2022
Playbook to shape UK public sector digital, data and tech projects published
This playbook pulls together lots of best practice processes to ensure commercial teams and others involved in delivering major technology projects within the UK public sector set off on the right path in those projects from the outset and can manage deli
04/04/2022
Lasting Powers Of Attorney Come Into Force in Guernsey
A Health and Welfare LPA will only have effect where the Grantor lacks, or the Attorney reasonably believes that the Grantor lacks, capacity.
04/04/2022
CIMA revokes companies management licence of Imparato company
CIMA stated that RDI had also not submitted certificates of compliance for the same periods and failed to abide by the authority’s requests for documentation and information.
04/04/2022
ISSB Publishes Long-Awaited Exposure Drafts of Global Sustainability Standards
The standards are part of a global initiative to consolidate sustainability disclosures to help investors assess the value of companies.
04/04/2022
Bermuda Mask Requirements Lifted for Most Businesses
Failure to comply with the Regulations is an offence and can result in fines and penalty tickets.
04/03/2022
Filing Instructions Released for New US Bank Incident Reporting Requirement
These instructions will assist financial institutions in satisfying their obligations under the new requirements once compliance is required on May 1, 2022.
04/01/2022
BVI Voluntary Liquidations: What You Need to Know
The Maples Group's team of legal, fiduciary and fund services experts can provide a range of restructuring and liquidation services and guidance through the voluntary liquidations process for a BVI company.
04/01/2022
CMA’s environmental sustainability advice a ‘positive step’
The CMA said it also plans to engage with stakeholders in developing further practical guidance under the UK’s mergers and markets regimes
04/01/2022
Open banking to evolve under new UK governance arrangements
The open banking reforms were mandated by the UK's Competition and Markets Authority (CMA) at the end of a review it conducted into retail banking which identified competition concerns in the market.
04/01/2022
EU horizontal guidelines encourage sustainability initiatives by competitors
In addition to revising the existing exemptions, the new guidance includes a dedicated chapter on how businesses can cooperate to achieve sustainability goals without infringing competition law.
04/01/2022
Economic Crime Act expands UK sanctions and unexplained wealth order powers
The Act also seeks to increase the enforcement of breaches of financial sanctions, as well as the use of UWOs, as part of the Government’s efforts to tackle ‘dirty money’ in the UK.
04/01/2022
Part 1: A proliferation of international arbitration of cryptocurrency disputes
The massive sell off of cryptocurrencies at the material time allegedly resulted in clogged transactions which prevented investors from closing out or liquidating their trading positions during the outage.
03/31/2022
Utah Enacts Commercial Financing Disclosure Law with a Registration Obligation
Pending New York legislation would add its own licensing obligation to the disclosure obligations for commercial financing of $500,000 or less.
03/31/2022
The Statement of Changes in UK Immigration Rules
This article will summarise the key routes to be implemented from 11 April 2022 onwards.
03/31/2022
Interest Limitation Rules: Extended to Luxembourg EU Regulated Securitisation Vehicles
The draft law is expected to enter into force as of 1 January 2023.
03/31/2022
Economic Crime Act expands UK sanctions and unexplained wealth order powers
Any designation pursuant to the Urgent Procedure will cease to have effect after 56 days
03/31/2022
EU seeks to help competitors collaborate within competition law limits
The European Commission has been evaluating the existing guidelines since September 2019
03/30/2022
Compliance with Beneficial Ownership Obligations by Company Service Providers
The thematic examinations yielded very positive results.
03/30/2022
FCA fines GAM £9.1mn
The FCA has also fined Timothy Haywood, a former Investment Director and Business Unit Head at GIML, £230,037.