The EU Markets in Financial Instruments Directive II (“MiFID II”), which came into effect on January 3, 2018, raised concerns that U.S. broker-dealers that would receive “hard dollars” for research from firms subject to MiFID...more
On October 3, the International Consortium of Investigative Journalists began reporting on millions of confidential documents relating to the financial activities of heads of state, international business leaders, and other...more
Introduction -
The art market is characterised by high-value, portable items that can be bought and exchanged quickly and often confidentially. These features, which make the market inherently vulnerable to many types of...more
8/30/2021
/ Anti-Money Laundering ,
Customer Due Diligence (CDD) ,
HMRC ,
Money Laundering ,
National Crime Agency (NCA) ,
Politically Exposed Person (PEPs) ,
Proceeds of Crime Act 2002 (POCA) ,
Risk Assessment ,
Suspicious Activity Reports (SARs) ,
Terrorism Funding ,
UK
What are the legal issues for employers to consider?
During the pandemic, many employers have been dealing with requests from employees to work abroad. With the move to remote working, employees have asked to work from...more
6/30/2021
/ Coronavirus/COVID-19 ,
Data Protection ,
Employment Contract ,
Foreign Workers ,
Income Taxes ,
Lawful Permanent Residents ,
Remote Working ,
Social Security ,
UK ,
UK Brexit ,
Visas ,
Workplace Safety
On March 5, 2021, the ICE Benchmark Administration (the “IBA”) issued feedback that it had completed the consultation with LIBOR panel banks that it began in December 2020, and stated that it will be unable to publish certain...more
The UK financial services regulators speak loudly and often about their forward-looking approach to supervision, which – rather than looking back – seeks to focus on future risks to firms and consumers. Yet, you only have to...more
On 17 March 2020, the UK Financial Conduct Authority (FCA) released information for regulated firms setting out its expectations of their responses to the COVID-19 pandemic.
In broad terms, the FCA recognises that COVID-19...more
Non-financial misconduct and the UK Senior Managers and Certification Regimen -
The old adage goes that, “What happens in Vegas, stays in Vegas.” But, does this really hold true in the UK financial services sector?...more
5/21/2019
/ #MeToo ,
Duty to Disclose ,
Employment Tribunals ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Non-Disclosure Agreement ,
Personal Liability ,
Regulatory Standards ,
Risk Management ,
Senior Management Regime (SMR) ,
Settlement ,
Sexual Harassment ,
UK
In a paper published last month,[i] the UK’s Financial Conduct Authority (“FCA”) set out various cybersecurity insights gleaned from the work of cyber coordination groups (“CCGs”) the regulator established in 2017. The...more
4/4/2019
/ Bank of England ,
Banking Sector ,
Corporate Governance ,
Cyber Threats ,
Cybersecurity ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Investment Management ,
Popular ,
Prudential Regulation Authority (PRA) ,
UK
The UK is due to leave the European Union on March 29, 2019 (“Brexit”). Within the EEA, “passport rights” permit financial services institutions and funds authorised in any EEA Member State to conduct business cross border...more
2/26/2019
/ EU ,
EU Passport ,
European Economic Area (EEA) ,
Financial Services and Markets Act ,
Financial Services Industry ,
Payment Services Directive ,
PSD2 ,
Temporary Permissions Regime (TPR) ,
UCITS ,
UK ,
UK Brexit
Reporting overseas enforcement action against Senior Managers to the Prudential Regulation Authority.
On 7 November 2018, the Prudential Regulation Authority (“PRA”) issued two final notices against two individuals who had...more