11/18/2014
Curbs on bankers’ fixed pay may be needed: UK’s Carney
Amid concern the current pay regime does not deter misbehaviour
Legal, Regulation & Compliance
11/17/2014
Schroders’ Tosato: Time for regulators to stop punishing fund groups
He believes the time is ripe to shift the regulatory tone from ‘risk management and compression’, instead encouraging the growth of the asset management industry.
11/17/2014
RBS chief's £1m payout one year after he was axed: Stephen Hester faces fresh political row over his pay
Former Royal Bank of Scotland chief executive Stephen Hester faces a fresh political row over his pay after it emerged he received a £1million payout from the bailed-out bank earlier this year.
11/17/2014
Loose cannons in the world’s biggest financial markets were found out
City shamed again but fines fail to stop banks behaving badly
11/17/2014
Defiant PAC chairman to pursue controversial Ansbacher dossier on tax evasion
The chairman of the Dail's spending watchdog, John McGuinness, is to defy his own committee's legal advice and will seek to investigate the controversial Ansbacher dossier on tax evasion.
11/17/2014
Bankers are just like anybody else, except for the way they escape justice
There was a time when bank bosses took at face value Ogden Nash’s satirical poem Bankers Are Just Like Anybody Else, Except Richer.
11/17/2014
Hong Kong has become an important conduit for laundering money fleeing London
"We are aware that some of these customers have transferred funds to second-tier financial institutions in Hong Kong," Carey said.
11/17/2014
Guernsey’s Funds Offering To Be Given Technical Analysis
A technical showcase of Guernsey's funds offering and how the Island is positioning itself amid the latest regulatory pressures will be the focus of a funds masterclass in London at the start of next year.
11/17/2014
FSCP: The 'radical' cost reforms needed in fund management
The Consumer Panel has highlighted a number of flaws in fund management costs and charges in a disussion paper on the industry.
11/17/2014
HSBC Unit Charged by Belgian Prosecutors in Tax Fraud Probe
“More than 1,000 Belgian taxpayers could be affected over amounts involving several billions of dollars that were invested, managed and/or transferred between 2003 up to the present day,” prosecutors said in the statement.
11/17/2014
ECB's Mersch Says Bank Has No Balance Sheet Target
Executive board member says he will not support further easing measures yet
11/17/2014
Chase de Vere fined £560k for Keydata sale failings
The Financial Conduct Authority (FCA) has fined Chase de Vere Independent Financial Advisers Limited (Chase de Vere) £560,000 for failures surrounding the sale of Keydata products.
11/17/2014
HMRC cranks up the heat on law firms with increase in disclosure notices
HMRC has doubled down on accountancy and law firms, issuing 1,502 disclosure notices in the last year for information on clients that are subject to criminal tax investigations. HMRC issued 1,502 disclosure notices to professional services firms for info
11/17/2014
Business optimism soars among law firms despite growing competition
Confidence in the future of the legal profession is at an eight-year high in a marked about-turn from the gloom of the past few years, new research has found.
11/17/2014
FCA told to get tougher over hidden investment fees
Consumer panel says investors are still in the dark about the full cost of funds
11/17/2014
Jeremy Hoyland Elected as Managing Partner for Second Term
International law firm Simmons & Simmons today announced that Jeremy Hoyland has been re-elected as the firm’s Managing Partner.
11/17/2014
Meeting of the Crown Dependency Regulators
The Boards of the financial services regulators in Guernsey, Isle of Man and Jersey met on 5 November 2014.
11/17/2014
Worldwide: (More) Business As Usual
When it comes to new regulations, Guernsey is offering optionality to overcome 'fortress Europe', according to Fiona Le Poidevin, Chief Executive of Guernsey Finance.
11/17/2014
Momentum building for fund charges reform
Groups should absorb running costs themselves and charge one fee
11/17/2014
Consumer Panel calls for higher all-in fund charges
Panel calls on fund groups to levy a single charge and stop taking additional investment expenses from funds.