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

Proposed enhancements to the corporate governance code

A new Code Provision (the CP) will be included to require an issuer's board to align the company's culture with its purpose, values and strategy.

Changes to Guernsey's Companies Law

The Ordinance widens the class of partnerships or body corporates that are qualified for appointment as auditor of a Guernsey company.

New dispute rules envisage direct-to-blockchain enforcement of arbitral decisions

The new rules make it possible for parties to agree at the outset that disputes arising will be handled under the fast-track process the rules envisage.

Audit and FAR filing deadline extended for Cayman Islands private funds

Instead they must file a declaration of no capital contributions within six months of their financial year end and this deadline has not been extended.

FCA proposes to take enforcement action against an individual relating to "non-financial misconduct"

The UK Financial Conduct Authority (the FCA) is proposing to take enforcement action against an individual, Jon Frensham, relating to "non-financial misconduct".

Ireland Implements 5MLD

Prescribing in detail the enhanced customer due diligence measures to be applied when dealing with a customer established or residing in a 'high risk third country'

BofA Hit Hardest as EU Fines Bond-Trading Trio $34 Million

The survey also noted nearly half of business owners will be prepared to pay for staff to be vaccinated for Covid on an annual basis, should this become an option.

KPMG disputes leaked emails linking firm to offshore companies suspected in massive Ponzi scheme

Isle of Man shell companies protecting identity of wealthy Canadians

It’s time for offshore jurisdictions to have cross class cram downs in the restructuring toolkit

A plan could be imposed on one or more dissenting classes of senior creditor where approved by a class of junior creditor so long as it can establish that in the relevant alternative they would have a genuine economic interest in the company.

Practical guides on avoiding a referral to the JFSC

In this series of user-friendly guides, our regulatory team walk you through the key topics of how to avoid a referral, what to do if you are referred, how best to identify and manage conflicts of interest and how your firm should approach AML to ensure c

Proposal for EU Regulation of Artificial Intelligence published

The regulation has vast implications for industry across numerous sectors around the world

Financial Regulation: Daily Update

The European Commission (EC) has published a draft Implementing Regulation on the extension of the transitional provisions related to own funds requirements for exposures to central counterparties (CCPs).

EU Taxonomy Regulation: Climate Technical Screening Criteria a step closer to the statute books

The European Commission’s announcement on 21 April 2021 that it has reached political agreement on the climate TSC moves us closer to a green classification framework.

Firm Supports Institute for Well-Being in Law as an 'Inaugural Founding Champion

Backing underscores the firm’s commitment to advancing well-being in the profession.

Funds & Investment Management Update - Ireland and Luxembourg - Q1 2021

On 1 March 2021, the European Banking Authority ("EBA") published its final report with revised guidelines on customer due diligence

Financial Recovery Technologies Enters into a Strategic Alliance with BNY Mellon

This alliance ensures BNY Mellon clients have the most complete coverage and governance solutions to optimize their exposure to litigation opportunities.

Battea Class Action Services and Apex Group partnership offers clients securities litigation recovery services

This partnership will provide Apex Group’s institutional clients, including hedge funds and asset managers, with access to Battea’s “best in class” claims processing technology

AIIB launches sustainability bond framework

Under the framework, AIIB will publish its annual reports on of the environmental and social benefits of the Bank's overall portfolio level and project level on its website.

European Data Protection Board issues opinions on European Commission’s draft UK adequacy decisions

The Opinions largely support the draft UK adequacy decisions and represent a positive step towards adoption of formal UK adequacy decisions.

Cayman Islands Private Funds Act Extension to Filing Deadline for Audited Accounts

The Regulations set out the information a registered private fund must provide to CIMA, including in respect of each of the fund’s related fund entities, alternative investment vehicles and sub funds.

Government Regulation