08/10/2021
FCA Publish Changes to London Stock Exchange Listing rules for SPACs
The primary purpose of the consultation was to consult on a change to the Listing Rules
Government Regulation
08/10/2021
Guernsey’s Data Protection Regulator Approves New EU Standard Contractual Clauses
The New SCCs issued by the Commission take into account and reflect the Schrems II judgement, and ensure a higher level of data protection.
08/10/2021
Financial Services & Banking News
The letter reminds firms to comply with the FCA's general requirements and handbook principles, and to pay due regard to the interests of their customers and treat them fairly.
08/09/2021
Data transfers – where do we stand?
Debbie Heywood looks at the current picture on data transfers following publication of the new SCCs, the EU-UK adequacy decisions, and the EDPB recommendations on supplementary measures.
08/09/2021
Tencent's WeChat Faces Legal Challenges Over 'Youth Mode'
Friday's announcement comes at a time when China's tech giants are already facing heightened regulatory scrutiny over alleged monopolistic behavior as well as financial stability, data security and labor protection concerns.
08/09/2021
SPAC to the Future - Part II
From 10 August 2021 the UKLA amendments to the Listing Rules, which are specifically designed to improve LSE's SPAC offering, will come into effect.
08/09/2021
FCA fines BSPS pension transfer adviser £1.28m
The FCA has also decided to ban Mr Armin from advising consumers on pension transfers and pension opt outs.
08/09/2021
FCA obtains bankruptcy order against Mohammed Maricar following unlawful CFD forex trading promotion
Mr Maricar has failed to make any payment in relation to the High Court’s restitution order.
08/09/2021
OFSI imposes monetary penalty on fintech company for breach of financial sanctions
TransferGo is a UK company which carries out payment transfers.
08/09/2021
Across the world, governments are driving change in the ESG sphere and requiring greater accountability for ESG issues.
The European Union has in many respects been a first mover in global efforts to legislate on ESG. F
08/09/2021
Financial Services & Banking News
Given the considerable legal uncertainty surrounding digital assets, the FMLC welcomes the Law Commission’s Digital Assets Project and the prospect of law reform.
08/09/2021
‘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.
08/08/2021
Financial Regulation Daily Update
Feedback is requested by 17 September 2021.
08/08/2021
One Bite at the Apple or Two? The FTC Warns Companies of Potential Post-Waiting Period Investigations
Whether these letters will undermine seriously the HSR Act review framework
08/08/2021
Mauritius: National Payment Systems Regulations - Key Features
The Regulations are being issued two years after the promulgation of the National Payment Systems Act 2018 (NPS Act) in January 2019.
08/06/2021
OCC To Propose Rescission Of 2020 CRA Final Rule
The 2020 rule, previously covered by WBK here, amended the OCC regulation implementing the CRA.
08/06/2021
CSBS Issues Model Prudential Standards for Nonbank Mortgage Servicers
Additionally, the corporate governance section includes the requirements for the board of directors, internal audits, external audits, and risk management.
08/06/2021
Constructive Trusts of Immovable Property – Guernsey and Jersey Law’s Differing Paths
One of the issues in dispute between the parties in SFO concerned the ownership of four Jersey situated properties and specifically, whether those properties belonged beneficially to a certain individual
08/05/2021
Support for ‘flexi-job’ apprenticeships in England under revised scheme
No changes have been proposed to the apprenticeship levy paid by the largest employers, through which the scheme is part-funded.
08/05/2021
SPACs in the UK – the new listing rules and their potential impact on deal activity and claims trends
The rationale for this change is to provide protection to investors at a stage when there is still limited public information available.