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.
Legal,Regulation,Tax & Compliance
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
03/31/2020
Noah Singapore granted Capital Markets Services licence
The firm states that it is actively expanding its global footprint and has established a strong presence with offices in Hong Kong, Jersey, New York, Silicon Valley, Vancouver, Melbourne, and now Singapore.
03/31/2020
Putin’s Tax Hikes Compound Pandemic Angst for Wealth Managers
Some advisers say buy now, while others warn of double bottom
03/31/2020
Coronavirus: Stay Tuned – Hong Kong to resurrect Chapter 11–style corporate rescue bill
The major drawback is the lack of a statutory moratorium of legal claims against the company, and any creditor not contractually bound could petition to wind up the company and derail the restructuring efforts.
03/31/2020
SIX Group’s Offer To Acquire BME
The Linklaters team was led by Victor Manchado
03/30/2020
Coronavirus: FCA summons council of war
With comparisons moving beyond the 2008 financial crisis to the 1930s, Woolard has been at the heart of efforts by policymakers to quell the economic impact of the virus, which has caused tens of thousands of deaths around the world.
03/30/2020
The marketing of EU funds into the UK Post-Brexit: The Death Knell for the UK funds industry?
If the UK Government insists on allowing EU funds to continue to be marketed without reciprocal passporting, this could be the beginning of a gradual demise for the UK funds industry.
03/30/2020
Sponsored briefing: After a busy year in offshore litigation, what lies ahead in 2020?
Otherwise it has been a year of variety – our litigators have been involved in a broad range of large, complex contentious cases, including general commercial litigation, restructuring and insolvency, trusts, regulatory (including proceeds of crime
03/30/2020
Sanlam freezes fees for large firms as hike goes ahead
The adviser also questioned how Sanlam intended to work with its ARs who will struggle financially in the next few months as this has not yet been communicated.
03/30/2020
FCA tells advisers to work from home
This statement applies to all FCA-regulated firms across the UK, including in Scotland, Wales and Northern Ireland.
03/27/2020
Juan Carlos and the Account at Mirabaud
The bank thought this to be true for four years, until Juan Carlos took $65 million and allegedly sent it to Corinna Larsen, a Monaco-based businesswoman who is said to be either a close friend or ex-lover of Juan Carlos.
03/27/2020
Italy Wants Account Details of Credit Suisse Clients
The Italians are looking for information on accounts of Italian citizens at Credit Suisse, which they suspect of having failed to fulfill their tax obligations in their home country.
03/27/2020
RollOnFriday calls for hiatus on pay and job cuts as Fieldfisher and more take savage measures
The board of Knights is taking a 30% pay cut, although the nobility of their sacrifice is debatable given that an interim dividend of 1.1p per share was declared last week which showered them all in cash.