‘The UK’s financial regulator has fined Commerzbank £38m for money-laundering failures, including an “out-of-control” system for checking clients.’
The Guardian, 17th June 2020
Source: www.theguardian.com
‘At the moment, the phrase “business as usual” means anything but: business unusual, we might say. For some, it means a substantial part of the operation is running remotely; others are subject to extensive furloughs and others still will be seeing a downturn in demand or cashflow from which there may be no easy recovery. This is likely to be the case even as the restrictions begin to ease: social distancing and changes in consumer behaviour may result in remote working and smaller operations for some considerable time to come. Whatever the position, businesses will still be subject to regulatory oversight which may present more challenges than usual. This article will take a brief look at some of the key points, along with some practical considerations arising.’
Broadway House Chambers, 8th June 2020
Source: broadwayhouse.co.uk
‘With plans across the world to gradually lift some lockdown restrictions we can expect to uncover a new wave of corporate criminal activity and organised crime at home and abroad. Criminal defence specialists Simon Pentol QC and Duncan Jones of 25 Bedford Row examine the likely trends and the focus of investigation by the authorities.’
25 Bedford Row, 27th May 2020
Source: www.25bedfordrow.com
‘In view of the potential new financial risks posed by the Corona Virus pandemic, Cameron Brown QC and Sam Smart (Pupil Barrister) from Red Lion Chambers review the work of the FCA in tackling financial crime and the new challenges it may face.’
Red Lion Chambers, 26th May 2020
Source: www.redlionchambers.co.uk
‘The European Banking Authority’s long-awaited inquiry into dividend arbitrage trading schemes (“Cum-Ex/Cum-Cum”) and 10-point action plan to enhance the future regulatory framework – what are the implications for UK financial institutions and the Financial Conduct Authority?’
5SAH, 13th May 2020
Source: www.5sah.co.uk
‘The City watchdog is cracking down on UK banks that have been preying on corporate clients seeking financial help during the Covid-19 crisis.’
The Guardian, 28th April 2020
Source: www.theguardian.com
‘Cryptocurrency: The Future of Money? Bitcoin is just one of many cryptocurrencies (internet currency). It’s not the first but it’s the first that works and the one that’s caught everyone’s attention. As with any currency comes regulation and in light of the rise of Bitcoin in recent years, it’s important to consult a Bitcoin lawyer if seeking advice in cryptocurrency law, regarding Bitcoin law.’
St Paul's Chambers, 24th April 2020
Source: www.stpaulschambers.com
‘Following last week’s moratorium imposed by the Financial Conduct Authority in relation to credit card debts, overdrafts and personal loans, the FCA is imposing a similar moratorium on hire-purchase (annoyingly referred to by the trendy term ‘rent-to-own’), high-cost short-term credit (payday loans), buy-nowpay-later deals (BNPL) and pawn agreements.’
Henderson Chambers, 24th April 2020
‘The Covid-19 crisis has led the Financial Conduct Authority to issue authoritative guidance to consumer credit lenders which will oblige them to grant a three month moratorium on debts and to reduce interest costs.’
Henderson Chambers, 9th April 2020
‘While debate rumbles on over the extension of ‘failure to prevent’ offences into the broad spectrum of financial crime, including fraud and money laundering, some have called for their introduction into an altogether different sphere: human rights.’
Law Society's Gazette, 6th April 2020
Source: www.lawgazette.co.uk
‘The first thing to say is that you should learn as much about holding and transacting with cryptocurrencies as you have time for.’
New Square Chambers, March 2020
Source: www.newsquarechambers.co.uk
‘This note sets out some thoughts and information on the current crisis.’
11 KBW, 19th March 2020
Source: www.11kbw.com
‘Britain’s financial watchdog has warned credit card firms against the blanket suspension of cards of consumers who are stuck in a debt spiral, telling them to reduce or waive interest and other charges instead.’
The Guardian, 3rd February 2020
Source: www.theguardian.com
‘The next UK government must act urgently to bring consumer credit laws up to date, a trade body has said. The Finance and Leasing Association (FLA) said that lenders were prevented by the Consumer Credit Act (CCA) from stepping in to help customers in financial difficulty quickly enough, while requiring them to send “old fashioned and severely worded letters”.’
OUT-LAW.com, 13th December 2019
Source: www.pinsentmasons.com
‘In April 2019, the FCA (Financial Conduct Authority) became the new regulator of Claims Management businesses (CMCs). At the same time, the Financial Ombudsman Service became responsible for resolving customer disputes about CMSs. In June 2018, the FCA issued a consultation paper (CP 18/15) which proposed a new Claims Management: Conduct of Business Sourcebook [CMCOB] and to apply relevant parts of the existing FCA Handbook.’
St Pauls Chambers, 28th November 2019
Source: www.stpaulschambers.com
‘The latest monthly environmental law news podcast presented by Christopher Badger and Mark Davies in association with LexisPSL, is now available.’
Six Pump Court, 22nd November 2019
Source: www.6pumpcourt.co.uk
‘“CumEx” is a controversial dividend arbitrage stock trading practice currently under investigation in several European jurisdictions with, to date, limited involvement from the UK authorities. It allegedly caused significant losses to various EU treasuries, which are currently engaged in civil proceedings, regulatory settlements and criminal proceedings, including against two former London traders who are currently on trial for tax fraud in Germany.’
5SAH, 19th November 2019
Source: www.5sah.co.uk
‘The City watchdog is to ban the promotion of speculative mini-bonds to small investors after facing severe criticism over its handling of the collapse of London Capital & Finance.’
The Guardian, 26th November 2019
Source: www.theguardian.com
‘Byron James, Partner and Head of Expatriate Law in Dubai, explains the challenges presented to family lawyers by the effective method of anonymous international money transfer system used around the world.; why and what family practitioners should know about it.’
Family Law Week, 20th November 2019
Source: www.familylawweek.co.uk
‘On 1 April 2019, the Financial Conduct Authority (FCA) enacted new rules that substantially expanded the jurisdiction of the Financial Ombudsman Service (FOS). Whereas previously it was limited to awarding complainants redress of £150k, that figure is now £350k. In addition, the categories of eligible complainant will now include not only individuals and ‘micro enterprises’ but also SMEs (small to medium enterprises) whose turnover is below £6.5m and who have either less than 50 employees or a balance sheet total of less than £5m.’
Hardwicke Chambers, 13th November 2019
Source: hardwicke.co.uk
© Inner Temple Library 2020