04/05/2021
New guidance on UK penalties for sanction breaches signals tougher approach
The Guidance updates the factors that OFSI will take in to account when determining whether to take enforcement actions and what those actions might be.
Government Regulation
04/04/2021
Germany Ministry of Justice proposes wide-ranging protection for whistleblowers
The draft bill aims to expand the hitherto incomplete protection of whistleblowers and create legal certainty for them.
04/04/2021
Moving the goal posts: European Commission new guidance on merger referral policy to catch non-reportable deals
The Guidance is part of a broader package including a Staff Working Document foreshadowing a somewhat broader reform of the EUMR. This blog post focuses on the new Article 22 Guidance.
04/04/2021
Groupthink: is your Board immune to this risk?
The fact that directors reached consensus views in advance of Board meetings, leading to insufficient debate and a blindness to colleague concerns, was also cited as an example of poor governance approach.
04/01/2021
Canadian securities regulators outline regulatory framework for compliance for crypto asset trading platforms
“The guidance in our notice details steps platform operators need to take to comply with securities legislation as they prepare to fully integrate into the Canadian regulatory structure,” said Louis Morisset
04/01/2021
SGX to Open Up Listings to Special Purpose Acquisition Companies (SPACs)
This is a significant development for capital markets in the region and will help bolster Singapore as a leading gateway for fund raising.
04/01/2021
Financial services regulatory update - April 2021
The regulators released the long-awaited policy papers on operational resilience for financial services firms
03/31/2021
Director disqualification: 12 year disqualification penalty imposed in Guernsey
A prohibition order was initially made against the individual concerned, in this case, regarding his involvement in a business enterprise.
03/31/2021
Five things you need to know about the Cayman Islands Private Funds Law
There are a number of annual requirements for private funds under the new PFL.
03/31/2021
New law implementing the P2B Regulation
It sets out the conditions and eligibility requirements for non-profit organisations
03/31/2021
Mandatory climate disclosures 'risk unnecessary complexity'
The BEIS consultation closes on 5 May 2021, and the government said new regulations would come into force on 6 April 2022, applying to financial periods starting on or after that date.
03/31/2021
Working group publishes Carbon Reduction Code for built assets sectors
Sustainability experts from the Environment Agency and the HS2 rail project are working with CSIC to help explore and develop the code and to help build wider engagement.
03/31/2021
Symbolic but Not Consequential
Housework is mundane, but it has the power to generate explosive emotions and now, compensation.
03/31/2021
SEC takes first steps to put in force the Holding Foreign Companies Accountable Act
But disclosure requirements will not be triggered until SEC identifies affected companies, and SEC is not yet addressing the mandated trading prohibitions
03/31/2021
SPACxit – can London save SPACs to secure its position in the new world?
In the UK, SPACs are considered cash shells which are not eligible for listing on the Premium segment of the Official List
03/31/2021
Changes to AIFMD Marketing Rules from August 2021 – How will these New Rules Impact Fund Managers?
The Marketing Rules also provide that where a draft prospectus or offering memorandum is provided as part of “pre-marketing”
03/30/2021
A new year, a new set of arbitral rules: a summary of the key changes introduced in the 2021 ICC arbitration rules
This introduces greater flexibility in the manner in which hearings are conducted and allows for parties’ to ensure their voices are heard and cases are plead even if they are prevented from traveling physically to a hearing.
03/30/2021
Will 2021 be the year of special purpose acquisition companies (SPACs) in Luxembourg?
A SPAC is essentially a shell company formed with no business purpose or undertaking other than to raise funds for some future undefined object, and then later use the proceeds of that offering to acquire a private company in a reverse merger.
03/29/2021
US Federal Reserve Announces New Climate Committee and Provides More Guidance on Its Approach to Addressing Climate Change Risks
The FSCC’s focus on financial stability constitutes the second pillar of the FRB’s climate change framework.
03/29/2021
Regulatory investigations in Guernsey
The critical question which a Guernsey licenss (or business) will need to swiftly address is how to respond and how to manage the situation.