01/15/2014
FCA arrests three in boiler room investigation
The FCA and City of London Police have arrested three individuals as part of an investigation into a boiler room scam.
Legal, Regulation & Compliance
01/15/2014
West End law firm boosts private client offering with new partner appointment
He was a partner in the Private Client department of Lee Bolton Monier-Williams
01/15/2014
Police raid the Czech Export Bank
Two state export firms targeted in dawn bust
01/14/2014
FCA admits independent, restricted definitions ‘not working’
Director says regulator will ‘redouble efforts’ in coming year, but chief exec says it will not change rules.
01/14/2014
HM Treasury update on AIFMD transitional arrangements - Withers
HM Treasury intends to make an amending statutory instrument to this effect in early 2014 but in the meantime, all transitional AIFMs are encouraged to make their applications for authorisation or registration as soon as possible.
01/14/2014
BofA’s Merrill Sued in U.K. on Saipem Shares in Italy Probe
Bank of America Corp.’s Merrill Lynch unit was sued by a Portuguese investment firm over a share sale that’s being probed by Italian regulators for potential market abuse.
01/14/2014
FCA rejects Apfa call for adviser compensation over fees
The regulator currently separates advisers into two fee blocks, A12 and A13, depending on whether or not they hold client money.
01/14/2014
ABN Amro fined for algo blunder
The orders were deleted by an algorithm used by a Hong Kong-based HFT client, Algorithmic Trading Group, with sponsored access through ABN Amro.
01/13/2014
RBS shareholder group to pursue legal action
Scotland on Sunday has learned that the RBS Rights Issue Action Group – which represents about 8,000 small shareholders – is preparing to issue proceedings well before June’s statutory deadline.
01/13/2014
BlackRock backs Bolton against Italian civil suit
Such matters would usually remain private, but Consob's letter was leaked to an Italian blog at the end of last month, before BlackRock received it, City A.M. understands.
01/12/2014
Former top execs to give evidence against RBS in High Court trial
We believe we have strong defences to the claims that are being brought against the group
01/12/2014
Regulators ease new bank rule on leverage
At its meeting in Basel today, the Basel Committee's oversight body, the Group of Governors and Heads of Supervision, endorsed a number of important steps in the completion of the post-crisis reform agenda.
01/10/2014
Boiler room alert: FCA warns of LBV Asset Management clone
The Financial Conduct Authority has warned investors of a new boiler room scam operating under the same name as authorised firm LBV Asset Management.
01/10/2014
King & Wood Mallesons announce new practice management lineup
King & Wood Mallesons has announced the appointment of Craig Pollack as the new global co-ordinator for dispute resolution/litigation.
01/10/2014
Absolute Capital Founder Homm Loses Extradition Appeal
Florian Homm, the founder of Cayman Islands-based Absolute Capital Management Holdings Ltd. who was arrested last year in Florence, Italy’s Uffizi Gallery, lost his appeal of an order to extradite him to the U.S.
01/10/2014
Italy's securities regulator begins civil proceeding against BlackRock' money manager
The regulator alleged that the manager utilized information not available publicly in order to avert €114.5 million or $156.5 million in losses for its clients in 2013.
01/08/2014
Proposed Changes to the Taxation of UK Partnerships by Richard Ward, Ceinwen Rees, Debevoise
In May 2013, HM Revenue & Customs (“HMRC”) published a consultation document looking at various aspects of partnership taxation.
01/08/2014
August & Debouzy turns to Weil for private equity hire
French firm August & Debouzy has boosted its private equity practice with the hire of partner David Malamed from Weil Gotshal & Manges.
01/08/2014
Deutsche Bank Said Set to Punish Staff Including Cloete on Libor
Deutsche Bank AG, Europe’s biggest investment bank by revenue, will review whether to punish senior employees including Alan Cloete for their roles in the interest- rate rigging scandal
01/08/2014
More whistle-blowers reporting tip-offs to FCA
Following this market abuse investigation, financial regulators in both the UK and US have reported more instances of tip-offs relating to potential illegal behaviours within the industry.