Financial

June 18, 2021

In our first Treasury updater we focus on anti-money laundering regulation. This topic is particularly pertinent for Treasury functions in that most of the anti-money laundering regime applies to unregulated as well as regulated companies. To support Treasury functions in their understanding of the money laundering risks to which they are exposed this article discusses key recent legislative changes in the money laundering arena, the money laundering risks associated with Treasury activities, and further developments…

Financial services: Regulation tomorrow

BoE’s climate-related financial disclosure 2020/21

By Simon Lovegrove (UK)

June 18, 2021

On 17 June 2021, the Bank of England (BoE) issued its second annual climate disclosure report setting out its approach to managing risks from climate change across its operations. In particular the report covers the BoE’s climate change strategy, the governance structures and processes around its climate-related work, and the measurement and management of climate-related risks across its physical and financial operations. For the first time, the report includes scenario analysis drawing on the latest…

The Law Office of Nicole Israel

Just Married? 6 Estate Planning Essentials for Newlyweds—Part 2

By Nicole Israel

June 18, 2021

As we head into the peak of wedding season, if you are a newlywed or are about to tie the knot, add “estate planning” to your do list. And yes, we imagine that at this happiest time of your life, planning for your potential incapacity and eventual death is probably the farthest thing from your mind, but getting it handled as part of your wedding planning is the greatest gift you can give your soon-to-be…

The SEC Institute Blog

SASB and IIRC Complete Merger to Become The Value Reporting Foundation

By George Wilson

June 18, 2021

As investors, companies and regulators focus on developing frameworks and standards for ESG and related disclosures, two important organizations in this space have combined. The SASB, a non-profit organization founded in 2011, has been actively working to develop sustainability standards. The SASB Standards are currently available for 77 industries and primarily address ESG issues related to financial performance. The IIRC, starting with its 2013 International Integrated Reporting Framework, has built a set of concepts…

Financial Institutions Legal Snapshot

Exclusion of deliberate acts in insurance policies (UK)

By Donald Dinnie

June 18, 2021

A June 2021 UK Supreme Court judgment has highlighted the difficulties insurers may face when relying on a intentional or deliberate acts exclusion. A bouncer at a pub in Aberdeen, Scotland had applied a non-approved neck hold on a rowdy customer resulting in the customer’s death due to mechanical asphyxiation. In a subsequent criminal trial, the jury convicted the bouncer of assault, with the trial judge accepting that the bouncer’s actions were badly executed, and…

Financial Institutions Legal Snapshot

FAIS Ombud must determine jurisdiction before determining complaints

By Donald Dinnie

June 18, 2021

In April 2021, the Supreme Court of Appeal dismissed the review of determinations made by the FAIS Ombud established in terms of the Financial Advisory and Intermediary Services Act of 2002 (FAIS Act). The SCA was called upon to decide whether the Ombud had committed a reviewable error in determining complaints lodged by the respondents. In 2015, the Ombud received several complaints against the applicants, Impact Financial Consultants and its principal member, Mr Calitz. The…

The D&O Diary

Guest Post: Update on The Valeant Appeal: Third Circuit Rejects The “Forfeiture Rule” for Opt-Outs

By Kevin LaCroix

June 18, 2021

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In a recent post (here), David Kaplan of the Saxena White P.A. law firm and Lane Arnold, a Senior Director – Legal at the University of Texas/Texas A&M Investment Management Company (UTIMCO), discussed the Catch-22 in which the court’s rulings in the Valeant securities class action opt-out cases had put prospective securities suit opt-outs. In the following guest post, Kaplan and Hani Farah, also of the Saxena White law firm, update the prior…

Financial services: Regulation tomorrow

AFM publishes report containing recommendations on transparency and a consolidated tape

By Nikolai de Koning

June 18, 2021

On 17 June 2021, the Dutch Authority for the Financial Markets (Autoriteit Financiële Markten, the AFM) published a report titled “A review of MiFID II and MiFIR: Recommendations on transparency and a consolidated tape” (the Report). In the context of the European Commission’s revision of the MiFID II/MiFIR regime, the AFM is proposing a number of recommendations in relation to the MiFID/MiFIR transparency framework. The AFM is recommending working towards meaningful transparency in the capital…

Financial services: Regulation tomorrow

EIOPA publishes a report on AI governance principles for the European insurance sector

By Laura Hodgson (UK)

June 18, 2021

The European Insurance and Occupational Pensions Authority (EIOPA) has published a report called ‘Artificial intelligence governance principles: towards ethical and trustworthy artificial intelligence in the European insurance sector’. The report has been written in the context of the proliferation in the use of artificial intelligence (AI) in insurance and the use of Big Data in underwriting. EIOPA refers to evidence that the growth in the use of AI has been exacerbated by COVID 19. EIOPA’s…

Litigation Finance Journal

Key Takeaways from LFJ’s Special Digital Event on Australia: The Evolution of a Litigation Finance Market

By John Freund

June 18, 2021

On Tuesday June 15th, LFJ hosted a special digital event on Australia: The Evolution of a Litigation Finance Market. Moderator Ed Truant (ET), founder of Slingshot Capital, helmed a panel discussion that covered a broad range of issues facing the Australian market. Panelists included Andrew Saker (AS), CEO of Omni Bridgeway, Stuart Price (SP), CEO of CASL, and Patrick Moloney (PM), CEO of Litigation Capital Management. Below are some key takeaways from the event: ET:…

Financial

Treasury updater series – AML and Treasury functions

BoE’s climate-related financial disclosure 2020/21

Just Married? 6 Estate Planning Essentials for Newlyweds—Part 2

SASB and IIRC Complete Merger to Become The Value Reporting Foundation

Exclusion of deliberate acts in insurance policies (UK)

FAIS Ombud must determine jurisdiction before determining complaints

Guest Post: Update on The Valeant Appeal: Third Circuit Rejects The “Forfeiture Rule” for Opt-Outs

AFM publishes report containing recommendations on transparency and a consolidated tape

EIOPA publishes a report on AI governance principles for the European insurance sector

Key Takeaways from LFJ’s Special Digital Event on Australia: The Evolution of a Litigation Finance Market

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