Thursday 25th April 2019
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Comsure operates in:the UK, Jersey, Guernsey

News

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Treatment of client money on firm’s administration

Treatment of client money on firm’s administration CASE = Yesterday, Mr Justice Briggs delivered his judgment in the matter of Lehman Brothers International (Europe) v CRC Credit Fund Ltd & Ors [2009] EWHC 3228 (Ch) on the identification and distribution of the client money held by Lehman Brothers International (Europe) (LBIE) at the time it […]

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The JFSC Issued its feedback on consultation paper no. 9 2009 (AML)

On the 14 December 2009 the JFSC Issued its feedback on consultation paper no. 9 2009 (Money laundering (amendment No.4) (Jersey) order 200-) (Amendments to the Money Laundering (Jersey) Order 2008). The Commission received comments from seven businesses. A summary of these comments can be found in section 2 of this Feedback Paper. Read More […]

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SARs filed by solicitors fall for a third year

SARs filed by solicitors fall for a third year Suspicious activity reports (SARs) filed by solicitors in between October 2008 and September 2009 fell to 4,772, a decrease for the third year in a row. There were 228,834 reports made across the regulated sector last year. Solicitors are the sixth largest group of reporters, behind […]

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The GFSC have posted x3 AML updates on their website today.

The GFSC have posted x3 AML updates on their website today. These are 1.    Changes to the Handbook for Prescribed Businesses – 2.    Changes to the Handbook for Financial Services Businesses 3.    Consultation on changes to AML/CFT legislation In summary these news matters deal with the following 1.    (1&2)  Prescribed businesses are advised that the […]

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United Nations claims DRUGS MONEY saved some banks from collapse

DRUGS MONEY saved some banks from collapse at the height of the global crisis, the  Antonio Maria Costa, head of the UN Office on Drugs and Crime, told the Observer signs suggest some banks were rescued by billions of dollars ‘from the drugs trade and other illegal activities.’  He says he had seen evidence the […]

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New offshore fund rules: changes made

This news update provides an update about the Offshore Funds (Tax) (Amendment) Regulations 2009 (SI 2009/3139), made on 1 December 2009. The amendment regulations On 1 December 2009, the Offshore Funds (Tax) (Amendment) Regulations 2009 (SI 2009/3139) (the amendment regulations) were made. The amendment regulations, which come into force on 22 December 2009 but take […]

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Ex-lawyer admits pilfering secrets from law firm to aid hedge-fund insider

A former attorney pleaded guilty Thursday to securities fraud, admitting a role in a $53 million insider trading case already brought against 20 others, including one of America’s richest men. Brien Santarlas, 33, entered the plea in U.S. District Court in Manhattan. His lawyer, Robert Stahl, said he is cooperating with authorities. Santarlas is the […]

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SFO, Combating major fraud and corruption

SFO, Combating major fraud and corruption – The Serious Fraud Office aim is to protect society from extensive, deliberate criminal deception which could threaten public confidence in the financial system.  They investigate fraud and corruption that requires investigative expertise and special powers to obtain and assess evidence to successfully prosecute fraudsters, freeze assets and compensate […]

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