06/21/2018
FCA to carry out review on MiFID II research arrangements
The process will begin with a questionnaire issued to a number of different firms, followed by regulator visits to firms to meet management.
Legal, Regulation & Compliance
06/21/2018
Two People to Be Prosecuted in Latvian Banking Scandal
Although their names were not mentioned, public TV identified one of them as Bank of Latvia Governor Ilmars Rimsevics.
06/21/2018
Boutique law firm launched in Liverpool
Nama Zarroug specialises in criminal defence and regulatory litigation.
06/21/2018
DLA Piper Africa welcomes Zimbabwe member firm
"We look forward to providing on-going professional advice and support to the private and government sectors in Zimbabwe and beyond.”
06/20/2018
Primonial CEO reveals plans for LFDE's neglected growth areas
Prior making the deal, Primonial had €2 billion in assets under management within the two subsidiary groups.
06/20/2018
What You Need to Know About Luxembourg's MiFID II Legislation
When providing discretionary portfolio management services and independent investment advice to clients, investment firms cannot receive any benefit or commission that may be considered an inducement.
06/19/2018
FCA: Our response to Law Commission recommendations on pension funds and social investment
In June 2017, the Law Commission made recommendations to Government and us on Pension Funds and Social Investment. A final joint response to this has now been published.
06/19/2018
FCA tells 6 providers to review their non-advised drawdown
The FCA did say some providers were not presenting open market options for consumers in good time before they buy drawdown products and charges were also not ‘always consistently highlighted’.
06/19/2018
Former Barclays trader accused of Euribor rigging was 'lowballing' whistleblower, court hears
Sibson went on to say that Bermingham contacted his own assistant to write to the European Banking Federation to "escalate" Barclays' concern that banks were putting in rates that were "dishonest, that were not justified by where cash
06/19/2018
US bank Citigroup renames Frankfurt office as post-Brexit plans take hold
Citigroup bankers were officially notified of the lender's plans to bulk up its Frankfurt office - which currently houses 350 staff - last summer.
06/18/2018
Breaking up is hard to do: retired Irish High Court judge Henry Abbott on millionaire divorce cases
Retired judge Henry Abbott spent 15 years ruling on high-net-worth divorce cases. He tells Mark Tighe about millionaires concealing assets, warring spouses, and litigants refusing to leave the courtroom
06/18/2018
European Banks Eyeing Mergers Face Gridlock on Friendlier Rules
But their shared urgency has been stymied by politicians from Germany and smaller states who want to make sure closer ties don’t expose them to excessive risks from other countries.
06/18/2018
Wealth adviser faces £30k fine after faking his qualifications
The regulator served him with a £29,300 fine after ruling his conduct had ‘pose[d] a risk to consumers and to the integrity of the financial system’.
06/18/2018
Shell facing €7bn bill for ‘anti-competitive’ tax avoidance deal
The deal dates back to 2005, when Shell, previously an Anglo-Dutch concern, merged its two branches to establish a single headquarters in The Hague.
06/18/2018
£30k fine and ban for financial adviser who faked qualifications
The watchdog said he fabricated the documents to mislead the regulator into believing he was fully qualified to provide investment advice.
06/18/2018
Old Mutual Wealth spots loophole for pensions withdrawals
HM Revenue & Customs (HMRC) has reported that £305m had to be repaid to retirees
06/17/2018
How do financial compliance challenges impact the CFO’s agenda?
In a global environment, Chief Financial Officers are mainly concerned about maximising revenues and reducing costs. But compliance is an ever-present element that will influence your choice of growth strategy – and the outcome.
06/17/2018
Half a trillion gone: the Business runs from Russian banks
The state continues to pour money into “Gazprombank” and “Rosselkhozbank”, but the capital adequacy ratios of credit institutions fall.
06/17/2018
Why the ultra-wealthy are the only winners of 'perverse' inheritance tax gifting rules
Everyone has an annual gift allowance of £3,000, which can be given away free of IHT regardless of when they die.
06/17/2018
Virgin Money set to accept Clydesdale’s £1.6bn takeover
The final deal is expected to be on similar terms to the sweetened bid CYBG made a fortnight ago