Events listed in Insurance
Issuance of new Russia-related Executive Order and related Determinations; Issuance ...
ID 26495
The Office of Foreign Assets Control, OFAC, has issued a press release to inform of various new sanction measures of the U.S. government in view of the ongoing aggression of Russia towards Ukraine. Specifically, President Joseph Biden has issued a new Executive Order to enhance existing sanction measures and OFAC has issued three new determinations under Executive Order 14024 to impose further related restrictions. ...
On-Going Compliance Form For Notice of Mergers/Restructuring/Termination/Withdrawal ...
ID 26489
The Securities and Futures Commission of Hong Kong, SFC, has issued a revised form to be used by mutual funds and unit trusts in case of mergers with another fund/trust, restructuring, termination in case of mergers/restructuring, or withdrawal of authorization. Among others, the form seeks information on – on the number of units / share affected; – the latest size (assets under management); – ...
Reporting information to OFSI – what to do
ID 26488
The HM Treasury and Office of Financial Sanctions Implementation (OFSI) have published a new version of their UK FINANCIAL SANCTIONS Guidance: Reporting information to OFSI – what to do. This guidance was initially published in 2017 to provide firms with guidance on the reporting to the OFSI as regards suspected (illicit) activities or other actions that mandate such reporting (i.e. transfer from or to ...
Consultation on implementation of global minimum tax and minimum top-up tax in Hong ...
ID 26487
The Hong Kong government or better the Financial Services and the Treasury Bureau and the Inland Revenue Department have launched a joint consultation regarding the adoption of the global minimum tax framework proposed by the OECD, known as BEPS 2.0. The framework aims to address the challenges posed by the digital economy as regards the taxation of income generated across national borders and ensure ...
FinCEN Issues Final Rule Regarding Access to Beneficial Ownership Information
ID 26486
Following the implementation of rules to require the reporting of beneficial ownership by nearly all firms operating in the U.S. in an effort to enhance transparency on ownership and to reduce money laundering and financing of terrorism activity in the U.S. – and – following a subsequent consultation on regulating the access to such collected beneficial ownership information (BOI), the Financial Crimes Enforcement Network ...
Code of Corporate Governance
ID 26485
The Monetary Authority of Singapore (MAS) has published a press release to inform of a revised „Practice Guidance“ to the Code of Corporate Governance. The guidance is aimed at assisting listed firms in Singapore develop adequate and good corporate governance standards within their entities. It supplements the Code of Corporate Governance in that it provides detailed guidance and illustrative examples as to how to ...
TRANSITIENIEUWS – Gesprekken tussen DNB en pensioenfondsen bieden inzichten ...
ID 26483
DNB published a news article sharing information from a DNB seminar held for smaller pension funds, considering the outcome useful for other pension funds as well. More specifically, DNB conducted discussions to assess the governance risks during the transition to the new pension system. The focus was on identifying risks related to the roles and responsibilities of fund organs and key functions, as well ...
Commission Delegated Directive (EU) 2023/2775 as regards the adjustments of the ...
ID 26479
New Commission Delegated Directive (EU) 2023/2775 as regards the thresholds of various indicators to define different sizes of undertakings and groups with respect to the Accounting Directive was published in the Official Journal (OJ) of the EU. Specifically, the new Delegated Directive modifies the Accounting Directive to define new thresholds in balance sheet total and net turnover for purposes of the definition of micro, ...
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.