Events listed in Capital Markets
Consultation Paper on Proposed Changes to Complex Products Regime
ID 26476
On December 21, 2023, the Monetary Authority of Singapore, MAS, has launched a response paper to its public consultation on the complex product regime. Under the regime, all investment products are classified based on their characteristics in terms of risk as either „simple“ investment products, also called Excluded Investment Products (EIPs) or „complex“ investment products, also called Specified Investment Product (SIPs). Products classified as ...
Financial sanctions targets: list of all asset freeze targets
ID 26473
Following the publication of new sanction measures, a new consolidated version of the list containing the names of ALL parties currently subject to asset freezing measures in the UK as of December 21, 2023 was published by the Office of Financial Sanctions Implementation of the HM Treasury.
Medienmitteilung 15/2023
ID 26472
Das Vereinigte Königreich und die Schweiz haben das “Berne Financial Services Agreement“ unterzeichnet (siehe eventid=24460). Dieses wegweisende Abkommen, das auf gegenseitiger Anerkennung von Regulierungen basiert, legt die Grundlage für Marktöffnungsschritte in den Bereichen Banken- und Wertpapierdienstleistungen, Asset Management, Versicherungen und Börsen. Insbesondere für die Schweizer Banken, die einen bedeutenden Teil ihres grenzüberschreitenden Geschäfts m ...
Financial sanctions, Russia
ID 26471
The Office of Financial Sanctions Implementation (OFSI) has published a new Financial Sanctions Notice regarding sanctions measures with respect to persons and entities involved in or supportive of Russia’s action to destabilize Ukraine and threatening the sovereignty and independence of the country pursuant to Statutory Instrument SI 2019/855, the „Russia (Sanctions) (EU Exit) Regulations 2019“. Specifically, the OFSI informs that it has updated its ...
Die Schweiz und das Vereinigte Königreich unterzeichnen Abkommen über die ...
ID 26468
Die Schweiz und das Vereinigte Königreich haben das “Berne Financial Services Agreement“ unterzeichnet, ein wegweisendes Abkommen über die gegenseitige Anerkennung im Finanzdienstleistungsbereich. Die Unterzeichnung erfolgte nach mehr als zwei Jahren intensiver Verhandlungen zwischen Bundesrätin Karin Keller-Sutter und dem britischen Schatzkanzler Jeremy Hunt in Bern. Das Abkommen, das als weltweit einzigartig in seinem Ansatz und Geltungsbereich gilt, stärkt die ...
Fact Sheet: Beneficial Ownership Information Access and Safeguards Final Rule
ID 26466
In view of the finalization of the „access rule“ as regards access to FinCEN’s database on beneficial ownership information (BOI) (EventID 24631), the Financial Crimes Enforcement Network has published a corresponding fact sheet. The fact sheet outlines the key provisions of the final rule with respect to the following: (1) the background of the final rule and the regulatory framework; (2) recipients that will ...
Działalność w modelu „family office”
ID 26462
Since 2019, KNF has observed a spike in the number of firms calling themselves „family offices“ offering broker services. Broker services are only allowed if a firm is officially registered with KNF’s register. Failing to do so is a violation of Article 178 of the Act on Trading in Financial Instruments and, since 9 September 2023, can result in a monetary fine up to ...
New consolidated version: Council Directive 2011/16/EU on administrative ...
ID 26461
A new consolidated version of Council Directive 2011/16/EU, the so-called Directive on administrative cooperation (DAC), was published in the Official Journal (OJ) of the EU. The Directive sets out standards for collaboration in the field of taxes within the EU member states. The consolidated version includes remaining amendments made by Council Directive (EU) 2021/514 which – among other things – stipulated provisions for the ...
DNB publiceert voor het eerst haar Cyberstrategie
ID 26460
On 21 december 2023, DNB published for the first time its cyber strategy. DNB discusses its efforts in enhancing cyber resilience in the financial sector in the face of external developments. The increasing digitization, geopolitical tensions, and outsourcing of digital processes pose complex and dynamic risks, particularly in terms of cyber threats. The document outlines key cyber risks in 2023, such as **ransomware, attacks ...
UK financial sanctions guidance
ID 26458
The HM Treasury’s Office of Financial Sanctions Implementation (OFSI) has updated various guidances as regards (financial) sanctions, including the following: 1. the General guidance for financial sanctions under the Sanctions and Anti-Money Laundering Act 2018 which provides basic information on UK’s financial sanction framework and supports firms in their efforts to comply with current rules and regulations in that regard. It covers numerous issues, ...