‘Regulators need regtech to police use of virtual currency services in financial crime’

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Related briefings

The growing trend of money mules

In November 2017, CIFAS, the UK’s fraud prevention service released statistics showing a 75% rise in the number of 18 to 24 year old’s who are letting their bank accounts be used to transfer the proceeds of crime. CIFAS, along with UK Finance ran a ‘Don’t Be Fooled’ campaign which aims to deter young people […]

FCA asks CEOs to ensure Prudential returns are compliant

Andrew Bailey, CEO of the FCA, has this week written to IFPRU and BIPRU investment firms requesting them to review their prudential reporting practices. This was as a result of the FCA discovering that large numbers of firms are submitting inaccurate and incomplete returns. So, if you are the CFO, expect questions from your CEO, […]

What the William Hill fine means for you

Today’s news that the William Hill will face penalties of at least £6.2m following settlement with the Gambling Commission will have sent shock waves across the industry. This is the second largest financial penalty levied by the Commission, and the highest in relation to financial crime concerns. Other gaming firms should take note…

MiFID II update for Asian firms

In a number of presentations across Singapore and Hong Kong, we attempted to look back, take stock and process the last five years of markets reform in the EU…

Gambling Commission: The roulette spin cycle

The Gambling Commission has conducted a ‘thematic review’ which has reportedly revealed shortcomings in anti­money laundering controls. Early this year, the Gambling Commission wrote to 195 UK­-based remote casino operators with summary findings… …In short, remote casinos are not doing enough to prevent or detect the mis­use of their services to launder criminal proceeds or fund terrorism…

Latest Briefings

Landlord’s threats of legal action amounted to harassment of tenant

The recent Court of Appeal decision in Metropolitan Housing Trust Ltd v Worthington (1) and Parkin (2) alerts landlords to the risk of their dealings with tenants amounting to unlawful harassment.  Housing Management and Litigation experts Karl Anders and Lucie Bryan explain and offer practical advice, which will be of particular interest for social housing providers […]

Cabot SPR appeal: A welcome outcome for unsecured lenders in Scotland

Walker Morris partner Rob Aberdein explains an appeal allowed by the Sheriff Appeal Court which clarifies that the “interventionist and problem-solving approach” required of sheriffs under the new Simple Procedure Rules Simple Procedure Rules (SPR) for low value claims does not extend to undefended claims.  The appeal concerned a number of test cases and will […]

Industry responds to SME access to the FOS

The FCA last week published a suite of responses it has received to a consultation paper (CP18/3) released in January this year setting out the FCA’s proposed changes to the jurisdiction of the Financial Ombudsman Service (FOS) to open the FOS complaints resolution process to small businesses (SMEs). The fourteen responses published come from a […]

Cyber security, separation and self-protection online

Social media has many benefits, enabling us to keep in touch with old and new friends alike, sharing special moments with ‘followers’, organising events or tracking exercise progress. However, there is a dark side to the web.  Every click, post or search adds to your very own digital footprint, this leaves everyone vulnerable to exploitation. […]

Romanian companies will be able to distribute dividends on a quarterly basis

The Romanian Parliament recently approved the Law on the Amendment and Completion of the Accounting Law No. 82/1991, Amendment and Completion of the Companies Law No. 31/1990 and Amendment and Completion of Law No. 1/2005, on the organisation and functioning of cooperative companies. Before entering into force, the law will have to be promulgated by […]

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Christopher Young to be appointed Silk

Following the release of the results of the Queen’s Counsel appointments, we are delighted to announce that Christopher Young has been successful in his application for Silk. Christopher acts for many of the UK’s leading developers and house builders, with an enviable track record at appeal.

William Fry advises Irish Life on Danske Bank pension deal

William Fry has advised Irish Life in relation to Danske Bank’s transfer of €335m of its Irish defined benefit pension liabilities to Irish Life.  It is understood to be the largest deal of its kind in the local market. The deal is part of trend towards use of insurance techniques, such as annuity buy-ins and […]

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Bates Wells Braithwaite to launch charities hub in ex-KWM space

Bates Wells Braithwaite (BWB) is to take on extra space in 10 Queen Street Place, which it will use to create a ‘charities hub.’ The new hub will open in spring 2018 and occupy 4,000 sq ft of space on the first floor of the office. The floor in question was formerly occupied by King […]

Merger mania

Superlatives, exits and ridiculous names: legal market mergers in 2017

In 2017 as every year, mergers were a fact of life. But this year a number of heavyweight deals accelerated the global trend towards ever-bigger firms. Notably, many of these deals also confirmed the evergreen trend for partner fallout in the run-up to, and aftermath of, major mergers. The year began with the de-merger to […]

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