08/16/2021
Eligibility requirements for a LPF include having one general partner, at least one limited partner and an office in Hong Kong, whereas those for an OFC require at least two natural person directors, an investment manager licensed in Hong Kong and a custo
08/16/2021
ASIC cancels or suspends 24 Australian credit licences for failing to join AFCA
08/16/2021
A prima facie case means that the applicant must demonstrate that it is likely that a winding up order will be made.
08/16/2021
Failure to comply with the employer’s requirements may expose the employees to sanctions.
08/15/2021
Applicants can now see the light at the end of the tunnel and we expect that in days to come, more announcements of such in principle approvals will be made.
08/13/2021
German Supreme Court 'strengthens business model of claims management companies'
Instead, the collection service provider would receive 35% of the net proceeds from the claims in the event of success.
08/13/2021
‘Comply or explain’ diversity targets proposed for UK listed company boards
The ‘comply or explain’ targets proposed by the FCA are for at least 40% of the board to be women; at least one senior board position to be held by a woman; and at least one board member to be from a non-white ethnic minority background.
08/13/2021
Changing formation - UEFA re-writes the Rulebook for the Club Financial Control Body
In the 2021 version of the Procedural Rules governing the CFCB (2021 Rules), UEFA has sought to address these issues.
08/13/2021
In the land where cash is king, new restrictions will bite hard
Are you planning on selling your boat? If it is priced at €10,000 or more you’d better be aware that it is illegal to receive payment in cash
08/13/2021
Fines of Dh50,000 and more - even up to Dh5m - await businesses delaying AML compliance
08/13/2021
The Health & Safety Authority ("HSA") previously published guidance on remote working, however this was primarily focused on the practicalities of short term homeworking necessitated by the Government restrictions imposed due to COVID-19.
08/13/2021
The report revealed there were 184 individuals and firms under investigation for carrying out unauthorised business, and £189.8m in financial penalties had been handed out over the same period, alongside a number of prosecutions alleging insider dea
08/13/2021
Cyprus requires beneficial ownership details for partnerships
The process for partnerships will be similar to that of the submission of beneficial owners details for companies.
08/12/2021
Many jobs cannot be done from home, for example in production, logistics or trade.
08/12/2021
London Calling: LSE Listing Rules for SPACS Relaxed
This automatic suspension was seen by investors as undesirable as they would not be able to sell their shares for undetermined periods.
08/12/2021
The 2018 peer review identified best practices in strengthening the supervision of key functions
08/12/2021
Specific on-going monitoring of financial promotions an authorised firm has approved could be introduced.
08/12/2021
Pensions and Climate change: the Pensions Regulator’s draft guidance
Schemes will be required to have regard to statutory guidance issued by DWP when complying with the Regulations.
08/11/2021
TNFD: expanding the focus from climate to nature
One of the key developments in this area is the official launch of the Taskforce on Nature-related Financial Disclosure (TNFD).
08/11/2021
OFSI takes aim at FinTech company in its latest enforcement action
In its penalty notice, OFSI noted that TransferGo did not voluntarily disclose the transactions at issue despite it being a “relevant institution” required to inform OFSI as soon as practicable that it had become aware of a designated person.