03/07/2022
OBIE supports FCA delay on scrapping open banking’s ‘90-day’ rule
The FCA said it would shift the requirement to reauthenticate consent every 90 days from the user to the third-party provider accessing the service.
Legal,Regulation,Tax & Compliance
03/07/2022
Singapore to Impose Restrictions on Russian Financial and Crypto Transactions
The decision comes amid officially expressed concerns that Moscow’s invasion of Ukraine is a threat to the security of small states around the world.
03/07/2022
Cryptocurrencies are property, Singapore court rules, as it freezes US$7m in 'stolen' crypto
The judge also granted a worldwide mareva injunction that freezes up to US$7.09 million of the defendants' assets.
03/07/2022
Conyers advises on US$575 million acquisition of Finaro
Partner Anton Goldstein and Counsels Nicholas Kuria and Rachael Pape of Conyers’ BVI office advised on the transaction, working alongside Herzog, Fog & Neeman.
03/06/2022
Former Redcentric CFO sentenced to five and a half years imprisonment
When the true position was revealed, shareholders suffered immediate losses in the value of their shares.
03/03/2022
Over 1.2 million customers affected by Hong Kong data breaches
Whilst third party forensic experts can help to investigate the incident, lawyers are also required to manage the consequences faced by companies as a result of the non-compliance with the applicable data protection legislation.
03/02/2022
Borrowers beware – HMRC's new DeFi guidance
But the new guidance looks likely to disrupt the DeFi market in ways that crypto investors and users may see as disadvantageous.
03/02/2022
Isle of Man: Feedback Will Shape Approach to Innovation
The Authority is capturing the views of stakeholders to strengthen its understanding of emerging risks, new opportunities and challenges resulting from innovation, such as crypto-currencies, crypto-exchanges and initial coin offerings.
03/02/2022
SEC Reporting Changes: Accelerated Settlement Cycles
These changes are “designed to protect investors, reduce risk, and increase operational efficiency.
03/02/2022
Crypto assets go mainstream – new SFC and HKMA guidance for intermediaries and banks on virtual asset-related activities
The guidance comes in the form of a joint circular issued by the Securities and Futures Commission
03/02/2022
WhatsApp scandal's specter rises again
Citi, Goldman Sachs and HSBC all warned, in their annual reports, that the SEC and CFTC are investigating banks' record-keeping of communications through private platforms.
03/01/2022
Simmons & Simmons announces first GreenTech Fund winners
Simmons has today announced the first cohort of winners for its GreenTech Fund.
02/28/2022
EBA Proposals Eye Enhanced Credit Spread Risk and Standardized NII
The shift in monetary policy together with the new guidelines will certainly keep bankers and supervisory authorities busy for the foreseeable future, ensuring the European banking sector manages through the increasing interest rate cycle while protecting
02/28/2022
Barclays fined £783,800 for oversight failings
The FCA publicly censured Premier FX in February 2021 for failing to safeguard its customers’ money and seriously misleading its customers about the services it was authorised to provide.
02/25/2022
Rights and principles proposed to guide digital transformation
The Commission is hoping to have the draft declaration signed by summer 2022.
02/25/2022
EU moves to limit foreign access to cloud data
These latest Commission plans would apply similar restrictions to the transfer of, and foreign access to, EU-held non-personal data for the first time.
02/25/2022
US ruling on AI and copyright reflects ongoing UK debate
The US Copyright Office rejected his application in 2019, finding that it “lacks the human authorship necessary to support a copyright claim"
02/25/2022
European Parliament Postpones Vote on Crypto Regulations Indefinitely
A leaked draft has drawn criticism for including a provision that sought to ban the use of cryptocurrencies that rely on proof-of-work.
02/25/2022
UK’s Open Banking Chief Calls on Regulators to Streamline, Accelerate the Technology
Open banking allows firms to transfer data, with client’s permission, and easily integrate tools and services.
02/24/2022
Ogier in Jersey advises on Invesco Physical Bitcoin launch
The transaction marks the asset manager's first issuance of a physically backed ETN linked to cryptocurrency.