- Managers of Wealth - Legal - Wealth, private banking and asset management news and opinion

Climate Change: A Board Level Consideration

In this update we consider the duties of Guernsey directors in relation to climate change as part of Guernsey Green Finance's Sustainable Finance Week 2021.

HMRC confirms that donations made by waiving a refund or loan repayment are eligible for Gift Aid

HMRC has now made a further important update to its detailed guidance notes in relation to what it considers a donation, and what types of donation are eligible for Gift Aid.

Five steps to business continuity in UK financial services – managing third party risk

When disruption occurs, it is important for effective crisis communication measures to be put in place

ASIC permanently bans Sydney financial planner

To prevent future harm to clients of financial services businesses.

Well Connected

The most recent development — which spans across personal data protection, investor protection and mitigates against money laundering, should be taken into careful consideration by those who plan to make use of the Wealth Management Connect scheme.

AML and Brexit: golden opportunity or time to close the vault?

Lawyers are encouraged to undertake risk assessments for each client, basing their judgement on a holistic consideration of multiple factors.

Gibraltar regulator restructures amid surge in financial firm applications

This is the latest step in our approach to improving stakeholder engagement."

Proposed changes to UK aggregates levy exemptions

There are considerable tensions over the scope and application of aggregates levy between the aggregates industry and those undertaking infrastructure projects.

Why use a regulatory hosting umbrella?

This means that the unregulated firm can carry out regulated activities prior to obtaining direct authorisation by the FCA.

UAE central bank sets up 'whistleblowing' portal for misconduct, unethical practices

Public, financial institutions, vendors can report wrongdoings anonymously

What will happen to the Britcoin? Here’s what you need to know

One of the biggest risks of a digital pound, the bank said, would be the potential for digital money to undermine confidence in money and payments and in the financial system as a whole.

Due Diligence Insights Virtual Conference for Alternative Investment Operations

Rachael's session will be an "on demand" session covering Fund Liquidations.

New EU standard contractual clauses adopted

There will be a limited period of three months during which businesses can still enter into new contracts using the Old SCCs. However, these contracts will also need to be updated to the New EU SCCs within the 18-month period.

European Commission Clarifies Obligations of Financial Institutions as to Frozen Funds

The Commission, emphasizing the requirement to prevent a change that would enable the use of the funds

EU: New Standard Contractual Clauses – From theory to practice

Most large companies have complex webs of data transfers to hundreds, if not thousands, of overseas recipients, many of which will depend on SCCs.

Supporting smart contracts under English law

It recently closed a call for evidence, to which Linklaters submitted its views.

Data reps not liable for actions of data controllers, says UK judge

Tasks of the designated representative include liaising with data subjects and regulators. The obligation to appoint a representative does not apply to public sector bodies.

UK guide on data transfer codes and certification anticipated

The legislation also provides for the endorsement of industry-drafted codes of conduct that are "intended to contribute to the proper application" of the law.

New Foreign Arbitral Institutions enter the Russian arbitration market

In May 2021, two more foreign arbitral institutions obtained the PAI status: the International Court of Arbitration of the International Chamber of Commerce (“ICC”) and the Singapore International Arbitration Centre (“SIAC”).

Transposition of ECN+ Directive into French law

Not all provisions of the ECN+ Directive had to be transposed into French law since some of the provisions were already in force in France.

Government Regulation