05/11/2018
BT cuts 13,000 jobs to slash costs
Last year, BT was forced to write down the value of the Italian part of Global Services after an accounting scandal that cost the firm more than £500m.
Legal, Regulation & Compliance
05/11/2018
UniCredit Pushes on Cost, Asset Quality to Affirm Leadership
That beat the 796 million-euro profit expected by the average of 8 analysts surveyed by Bloomberg.
05/11/2018
Barclays boss Staley fined for trying to expose whistleblower
Barclays is also now subject to special requirements by which it must report annually to the regulators detailing how it handles whistleblowing
05/11/2018
Isle of Man ready to fight UK Govt over public register
The Isle of Man was ready to “vigorously challenge” the UK Government if it imposed a public register of beneficial owners on the crown dependency, its chief minister Howard Quayle has revealed.
05/10/2018
Central Bank sees ‘no evidence’ vulture funds more aggressive than banks
Bank to pay €2.1bn dividend to the exchequer after its profits grew in 2017
05/10/2018
Government response to the House of Lords European Union Committee Report, ‘Brexit: The Future of Financial Regulation and Supervision’
The Government has also been clear that there will be no regulatory race for the bottom following our withdrawal from the EU.
05/10/2018
Dundee firms merge to create Baillie Shepherd
Baillie Shepherd has spent six months on a fresh rebranding and the refurbishment of its property office at 45 Union Street ahead of the merger.
05/10/2018
UOB and Santander UK to facilitate greater two-way business flows between Southeast Asia and the UK
Aim to help 200 companies in their cross-border expansion over the next two years
05/10/2018
At Vatican bank trial, court hears of Swiss funds, missing documents
The other, Gabriele Liuzzo, 95, who once worked as an outside legal consultant for the bank, could not attend the trial, which is being held inside the Vatican under its own legal system, because of poor health, his lawyers said.
05/10/2018
MiFID II affects client servicing for private banks
In a MiFID II world, clients have to sign up for an advisory or discretionary mandate when willing to talk to relationship managers.
05/09/2018
Zedra acquires Malta-based fiduciary firm
Quaestum is an independent fiduciary services firm employing a select team of industry professionals with a vast experience in different areas of consultancy and financial services.
05/09/2018
Will Lawyers Become Extinct in the Age of Automation?
The most enduring relationships in the legal profession are the ones where the client feels and believes the lawyer has their back.
05/09/2018
Beaufort clients could be charged for its liquidation
Under plans being considered by PWC, Beaufort’s administrator, clients with assets in the business worth less than £100,000 will face a levy of about 40 per cent of the value of their holdings to pay for the liquidation process.
05/09/2018
Advising on overseas pensions involves know-how and ethics
To understand the changes announced by the DWP in March
05/08/2018
Appleby, Guardian News and Media Limited and the BBC settle Paradise Papers dispute
This will allow Appleby to initiate meaningful discussions with its clients, colleagues and regulators.
05/08/2018
Standard Life Aberdeen disputes Lloyds 'right' to pull £109bn Scottish Widows portfolio
SLA claims it is not a 'material competitor'
05/08/2018
Hedge fund reports Unicredit for allegedly breaking European banking rules by misclassifying capital
If the regulator were to uphold the complaint, and force Unicredit to convert the securities into ordinary shares, the bondholders could lose around €2bn.
05/08/2018
Algo Traders Warn U.K. Over MiFID II Rules
The groups also want the BOE to make sure it’s not exceeding requirements under the revised Markets in Financial Instruments Directive for executives to sign off on the use of algorithms.
05/08/2018
The Bahamas – Clearly the Next Best Financial Services License
The FCA was once seen as the only jurisdiction where firms aspired to get a license though this has changed
05/08/2018
Nutmeg ordered to pay ex-client for ‘irritating’ mistakes
Nutmeg said the value of the 12-month AMC was in the region of £600, but Mr M did not agree with the offer made and complained to the FOS.