- Posts in 2019
This edition includes: DFSA Releases Consultation Paper No. 125 – Proposal for Money Services, FSRA Makes Amendments to AML, GEN, COB Modules, FATF Updates Countries on List of Jurisdictions with Strategic Deficiencies, ADGM Signs Collaboration Agreements.
This edition includes: FCA Bans Promotion of Speculative Mini Bonds to Retail Customers, Basel Committee on Banking Supervision on the Interaction between Prudential and AML/CTF, UKFIU Publishes New Glossary Codes and Reporting Routes on SARs, FCA and PRA Publish Decision Notices to Former CEO for Reducing Tax Liability.
On 30th April 2019, Cabinet of Ministers’ Resolution No.31 of 2019 was passed concerning Economic Substance Regulations (“ESRs”) in the UAE. On 12th September 2019, the UAE Ministry of Finance issued a guidance document clarifying certain aspects of the ESRs. Here, we answer the key questions regarding these regulations.
This edition includes - DFSA Opens Applications for its 2020 Regulatory Sandbox Winter Cohort, FSRA Publishes Regulatory Guidance for APIs, FCA Fines Tullett Prebon £15.4 million, FATF Releases Best Practices on Beneficial Ownership for Legal Persons.
This edition includes - Treasury Committee on IT Failures in the Financial Services Sector, ESMA Launches a Call for Evidence on the Effects of Product Intervention on CFDs and Binary Options, HM Treasury Publishes Advisory Notice on AML High-Risk Countries, ESMA Updates MiFID II Q&As.
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 - Notification to Scheduled Commercial Banks and Other Institutions, Risk Management Framework for Liquid Funds and Overnight Funds, SEBI Bans Ex-Chairman and Former Directors of CG Power from Accessing the Securities Markets, Amendments to the SEBI (Mutual Funds) Regulations.
This edition includes - Saudi Capital Market Authority Approves Multiple FinTech “Experimental Permits” for Equity Crowdfunding, Thirty One Start-ups to Participate in DIFC FinTech Hive’s 2019 Accelerator Programme, Insider Dealer Sentenced in the UK for Money Laundering Charges.
This edition includes - FCA on Guidance for the Fair Treatment of Vulnerable Customers, Strengthening Individual Accountability – SM&CR, FCA Review on MiFID II Implementation – Research Unbundling Reforms, FCA on the National Private Placement Regime.
This edition includes - SEBI Imposes Monetary Penalties on Various Entities and Individuals, Guidelines for LES in Commodity Derivatives Contracts, Rationalisation of Imposition of Fines on Trading Member or Clearing Members, Disclosure of Divergence in the Asset Classification and Provisioning by Banks.
This edition includes - FCA Agrees Plan for Phased Implementation of Strong Customer Authentication, EBA Advises the European Commission on the Implementation of the Basel III Framework, FATF Consolidated Assessment Ratings.
This edition includes - FSRA Admits 4th RegLab Cohort and Announces Successful RegLab Graduates, Bulgarian Bank Fined $569,930 for Data Breach, DFSA Releases Consultation Paper No. 127 – Miscellaneous Changes, Central Bank of Bahrain Approves First Middle Eastern Cryptocurrency Exchange.