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Comment and Analysis

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Anti-Money Laundering

The chilling effect of Guernsey's AML legislation

The recent judgment in Liang v RBC Trustees (Guernsey) Limited represents the first time when a person who has been denied access to assets as a result of a suspicious activity report has taken action of this ki...

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Regulation of Products

Fiduciary Rule dies in federal court

US broker-dealers have, in recent years, been moving their customers from commission-based accounts to accounts that charge annual fees. This seems to be part of a worldwide trend, presaged by the UK's Retail Di...

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Fines and Punishment

Life in the post-LIBOR world

When the UK's Financial Conduct Authority banned ex-UBS trader Arif Hussein from financial services for sending inappropriate messages to colleagues about the manipulation of rate submissions, the thoughts of ex...

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Anti-Money Laundering

POCA proposals see the light of day

Last year, the UK's Law Commission promised the Home Office that it would review Part 7 Proceeds of Crime Act 2002 and Part 3 Terrorism Act 2000 with a view to making their provisions more helpful to the Governm...

Latest News

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Technology

Global Financial Innovation Network promised

Eleven national financial regulators and related organisations have decided to establish a Global Financial Innovation Network, building on a proposal earlier this year to create a ‘global sandbox.’ ...

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Regulation of Products

Cochran's firm instructed to cease regulated activity

The UK's Financial Conduct Authority has instructed FSC Investment Services Ltd, set up by Frank Cochran, the 'financial advisor to the stars' who was jailed in April for physical and sexual assault, to cease al...

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Fines and Punishment

Fed fines Citigroup US$8.6 million

Citigroup has consented to the assessment of a civil money penalty in the amount of US$8,600,000 issued by the Federal Reserve in relation to residential mortgage loan servicing at its subsidiary, CitiFinancial ...

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Regulation of Products

ESMA updates UCITS and AIFMD Q&As

The European Securities and Markets Authority has updated its set of questions and answers about the application of the Undertakings for the Collective Investment in Transferable Securities (UCITS) Directive and...