This edition includes - DIFC Issues Amendments to the Common Reporting Standard Law and Regulations, ADGM and Sunline Collaborate on the Development of FinTech Solutions in the Digital Lab, IOSCO Examines the Evolution of Liquidity Provision in Equity Securities Markets, High Court Orders Illegal Pension Introducers to Pay £10,715,000 Restitution to Consumers.
The DIFC Data Protection Law 2020 (“DPL”) will be in full force on 1st October 2020 following its enactment on...
This edition includes - FCA Consults on Extending Deadline for Certification Regime and Conduct Rules, PRA Revised Version of Complaints Scheme, HM Treasury Proposes to Strengthen Rules on Financial Promotions, HM Treasury Consults on Economic Levy.
This edition includes - DFSA’s 2020 Summer Innovation Testing Licence Programme Update, CBUAE and ADGM Invite Applications for the 2020 Innovation Challenge, SCA Embarks on a Project to Restructure the Legislative System for Broker Classification, 12 Month Review of Revised FATF Standards - Virtual Assets and VASPs, Hong Kong Regulator Imposes $25.2M Fine on Guotai Junan Securities.
Whilst the world continues to adapt to the ongoing COVID-19 pandemic, Compliance Officers and MLROs must continue to remain vigilant to areas of risk. This download provides you with guidance on how to evaluate your current control environment, suggests additional risks you should be aware of and gives you details of the actions you can take to update and enhance your control environment.
The DIFC are front runners in the region when it comes to the proposal to introduce data protection laws more aligned with the GDPR and ultimately, this is the way that things are going to progress. Whether you are a firm in the DIFC or elsewhere in the region, it is best to take the proposed legislation on board now rather than later.
This edition includes - DFSA and Deloitte Middle East Publish Discussion Paper on Digital Assets Custody, ADGM and FSRA Make Amendments to Regulations, SCA Launches a New Version of its Digital Platform, FATF Proposes Amendment to Recommendation 1 to Include Proliferation Financing Risk, Deutsche Bank Fined $150million for Compliance Failures.
This edition includes - FCA Guidance on Assessing Adequate Financial Resources, PRA Statement on Electronic Signatures, ESMA Guidance on Compliance Function Under MiFID II, Official Journal Amended List of High-Risk Third Countries, FCA Fines Lloyds Bank Plc, Bank of Scotland Plc and The Mortgage Business Plc.
This edition includes - FCA Extends Period to Cover Absent Senior Managers, FCA Allows Individuals to Carry Over CPD from COVID-19, ESMA Issues Public Statement on COB Obligations from Increasing Retail Activity, FATF COVID-19 Related Money Laundering and Terrorist Financing Risks.
On 30th April 2019, Cabinet of Ministers’ Resolution No.31 of 2019 was passed concerning Economic Substance Regulations (“ESRs”) in the UAE. Thi s article provides details of the steps that firms in the DIFC need to take.
This edition includes - DFSA Takes Action Against Two Firms and Three Individuals, Entities Required to Notify ADGM Regarding New Economic Substance Regulations, SCA Discusses Initiatives to Regulate OTC Market and Measures to Contain COVID-19 Consequences, FATF Releases COVID-19 Challenges Good Practice and Policy Response Paper, BNP Paribas Chinese Unit Fined for Anti-Money Laundering Violations.
This edition includes - DFSA Release Joint Guidance Dear SEO Letter, ADGM Announces Further Incentives to Support Businesses, SCA Hold Meeting on Internal and External Actions for COVID-19 Measures, ESMA Releases COVID-19 Recommendations, Australian Bank WestPac Anticipates US$578 Million Money Laundering Fine.