04/02/2020
Ant Financial, Vanguard Group target 900m users with robo adviser
The transactions are done automatically and the robo adviser will also help investors re-balance their portfolios if necessary.
Legal,Regulation,Tax & Compliance
04/02/2020
Money Laundering, Lawyers, and Escrow: The Case for Voluntary Due Diligence
The real value in the Committee’s investigation flowed, not from the sanctioning of lawyers, but in the identification of unresolved issues.
04/02/2020
EFG to nominate board of directors chair and two members
At this year’s Annual General Meeting, EFG’s Chair of the Board of Directors, John Williamson, has decided not to stand for re-election.
04/02/2020
Crown Dependencies’ banking associations write open letter on coronavirus concerns
The banking associations added that they were working with each island government to ensure that support for businesses and individuals is available quickly.
04/01/2020
FINMA Guidance: temporary exemptions for banks due to the COVID-19 crisis
For banks whose shareholders approved after 25 March 2020 dividends or other similar distributions relating to 2019, or who plan to seek such shareholder approval, the capital relief will be reduced by the amount of the said distributions.
04/01/2020
Dividends: UBS unaffected by tightened Finma measures
UBS pursues the declared goal of distributing at least half of its profits to shareholders each year.
04/01/2020
Luxembourg regulator suspends Rothschild ex-CEO for ten years
The bank said in its 2017 annual report that it had paid the fine after the CSSF had notified it of a possible fraud involving former Malaysia Prime Minister Najib Razak’s 1MDB investment fund.
04/01/2020
Am Law 100 Firm Cuts Partner Pay Entirely, Reduces Associate Salaries By 25 Percent
Another Biglaw firm is tightening its belt because of COVID-19.
04/01/2020
United States' progress in strengthening measures to tackle money laundering and terrorist financing
The United States is now compliant on 9 of the 40 Recommendations and largely compliant on 22 of them.
04/01/2020
Guernsey legal and regulatory update
Guernsey's Revenue Service has introduced an online service for companies completing and submitting their corporate tax returns.
04/01/2020
Working Through the Lockdown
In both social and business environments this is a community event being faced as a community.
04/01/2020
COVID-19: Countrywide lockdowns make AGM attendance tricky - but what are the rules?
Lockdowns will make things more complicated for leaders preparing for their AGMs, but there are a number of options, depending on which country you are in.
04/01/2020
COVID-19: FCA updates webpages on short selling bans, SCA, and information for firms
The International Association of Insurance Supervisors (IAIS) has published the March edition of its newsletter.
04/01/2020
The Art Market Adjusts: The impact of the government's decreased oversight of private sale of antiquities and other artwork
My colleagues, Kenley Stark and Georges Lederman, discuss the impact of the coronavirus on the Government’s regulation and enforcement of laws concerning the art market.
04/01/2020
Finma to reduce capital relief to banks approving shareholder dividends
The measure applies until 1 July, but can be extended if necessary.
04/01/2020
Regulatory measures for firms in response to Covid-19
The PRA welcomes the decisions by the boards of the large UK banks to suspend dividends
03/31/2020
The Art Market Adjusts: Protecting consigned artworks from creditors
As a result, in certain states, artists consigning their own works of art to galleries for sale will not have to file a UCC-1 Financing Statement as collectors do.
03/31/2020
HMRC to raise standard of conduct among tax advisers
The government has confirmed that it will implement all but one of the recommendations made by Sir Amyas Morse in his review of the loan charge rules.
03/31/2020
Governors and Heads of Supervision announce deferral of Basel III implementation to increase operational capacity of banks and supervisors to respond to Covid-19
The implementation date of the Basel III standards finalised in December 2017 has been deferred by one year to 1 January 2023.
03/31/2020
HMRC Official Rate of Interest (ORI) reduced
ORI to reduce from 2.5% to 2.25% from 6 April 2020