Legal,Regulation,Tax & Compliance
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Goldman Sachs eyes stake in Nucleus
03/11/2022First reported by Sky News, sources have since confirmed the firms involved in the share sale and the combined value to FTAdviser. Nucleus declined to comment.
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Eugene F Collins merges with international law firm
02/10/2022The combination will continue to offer a full-service capability in the market with projections to more than double the size of the business in Ireland over the next three to five years.
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Our review of the 2021 AGM season and how we voted
09/21/2021Implementing ESG metrics in pay, adjusting remuneration, shareholder resolutions, votes on climate, diversity and auditor tenure - we round-up the AGM season.
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APAC Wealth Migration Trends Heighten Financial Crime Risk
12/31/2019Hong Kong: a decline in regional dominance?
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Ministry of Finance holds the third meeting of the Government Financial Policy Coordination Council of 2019
12/25/2019The meeting was headed by H.E Younis Haji Al Khoori, Undersecretary of MoF and Chairman of the Government Financial Policy Coordination Council
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Credit Suisse hit with $6.5 million U.S. fine for supervisory lapses
12/23/2019In settling this matter, Credit Suisse neither admitted nor denied the charges, but consented to the entry of FINRA’s and the Exchanges’ findings.
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UBS ordered to pay Credit Suisse $9m in advisor 'raiding' case
09/19/2019Credit Suisse filed the complaint in November 2015, asking for more than $10 million in damages alleging that UBS 'engaged in unfair competition
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The growing challenges for monetary policy by Mark Carney
08/25/2019Our Governor talks about the challenges posed by the international monetary and financial system for the conduct of monetary policy across the world.
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ASIC sues NAB for unlicensed home loan introducers
08/25/2019n one of the first pieces of litigation as a result of the Royal Commission, the Australian Securities and Investment Commission (ASIC) has sued the National Australia Bank (NAB) for dealing with unlicensed home loan introducers.
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Tanzania central bank threatens hefty fines for lenders over data compliance
08/25/2019A Bank of Tanzania spokesperson confirmed to Reuters on Sunday the regulator issued a circular on Friday that imposes a fine of 5 billion Tanzanian shillings ($2.18 million) for lenders that have not set up an in-country data centre.
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Qatar fines First Abu Dhabi Bank $55 mln in market manipulation probe
08/25/2019Qatar last year alleged that First Abu Dhabi Bank, the United Arab Emirates’ largest lender, made “bogus” foreign exchange deals to harm Qatar’s economy after the UAE and other Arab states began a boycott of Qatar in 2017, a charge
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FCA fines asset managers for breaching competition law
02/21/2019The Financial Conduct Authority (FCA) has today issued a decision which finds that 3 asset management firms breached competition law. This is the FCA’s first formal decision under its competition enforcement powers.
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Revised HKMA Guidelines on AML/CFT to Take Effect from November
10/22/2018The amendments to the AML/CFT Guidelines aim to better align them with the latest international requirements, such as FATF recommendations to include a new category of international organisation PEPs (politically exposed persons).
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Japan FSA Updates Financial Sector Cyber Policy
10/22/2018The FSA’s policy document acknowledges the work by the G7 Finance Ministers and Central Banks on boosting financial system cyber resilience.
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Morgan Stanley Wealth Management Australia required to amend false claim of independence
08/27/2018Advice firms need to have adequate processes and controls in place to ensure any public statements they make comply with the Corporations Act.
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ASIC continues clamp-down on 'independent claims'
07/06/2018ASIC will continue to publicly name advisers who do not comply with their obligations under s923A
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Understanding and preparing for GDPR
05/07/2018GDPR is based on the concept of data protection “by design”, meaning that data privacy, risk and compliance needs to be built into the systems, processes and procedures across an organization. There’s a fair amount to unpack with this ne
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HSBC is investigated over £134m ‘tax evasion’ scheme
03/31/2018Ten defendants, including City bankers and financial advisers involved in selling the scheme through Zeus, had previously been charged with cheating the public revenue, an offence that can lead to lengthy custodial sentences.
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Central Bank fines wealth firm03/30/2018However, the Central Bank said it identified failures by BCWM which has admitted to the breaches regarding necessary arrangements for opening client asset accounts.
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States ‘happy’ to work with critical Labour MP
03/30/2018THE States have said they are happy to work with a UK Treasury sub-committee whose chairman this week accused the Island and similar territories of being used to exploit ‘holes in the tax system’.