08/02/2012
FSA consults on introduction of new pay reporting rules
All banks, building societies and investment firms with assets of more than £50bn to be hit by proposals.
Legal, Regulation & Compliance
08/02/2012
FSA investigates Barclays finance chief over fees in financial crisis fundraisings
The news was revealed in its first-half results in which it apologised for the Libor rate rigging scandal and posted better-than-expected underlying half-year profits of £4.2bn.
08/02/2012
Deutsche Bank Says Facing Lawsuit Over Yen Libor, Derivatives
The lender filed in June to dismiss those lawsuits, which have been consolidated for pre-trial purposes in federal court in New York.
08/02/2012
Turkish Bank fined over money-laundering
They led to an unacceptable risk that TBUK could have been used to launder money
08/02/2012
Linklaters targets shadow banking in bid to bolster finance practice
The group, which targets the so-called ‘shadow banking’ sector not currently under the eye of regulators, is a response to the reluctance of traditional banks to lend, with ACPs taking their place.
08/01/2012
Northern Rock compensation claim rejected
Former employee says 150,000 private shareholders 'baffled, startled and angered' by European court of human rights decision
08/01/2012
Public consultation on Solvency II reporting leads to QRT structure changes
This is an integral part of the ongoing maintenance and consulting support that we provide to our ABACUS/Solvency II clients.”
08/01/2012
Morgan Stanley Allegedly Participated In Insider Trading In Greek Bank Merger
The charges made public Wednesday concern a failed takeover bid for Alpha Bank by National Bank of Greece in early 2011. Morgan Stanley acted as an adviser for NBG in its bid.
07/31/2012
Italian police raid Barclays' Milan office
Police took away “numerous documents, computer information and emails” from the bank’s office, according to a statement from the authorities, who are investigating whether Barclays manipulated Euribor “just as it did with Libor&
07/31/2012
Bankers found to have rigged Libor rate could face jail
Mr Green did not specify the precise charges that could be brought but it is possible bankers found guilty of manipulation could receive prison sentences of up to 10 years.
07/31/2012
Property fund investors seek compensation for damages
In a judicial letter the investors claimed they were forced to accept the bank’s compensation offer last year even though the financial services authority was still investigating BOV’s failures.
07/31/2012
Purge on banks that charge for 'useless perks' that cost current account holders £300 a year
City watchdog the Financial Services Authority fears the accounts, which offer perks like travel insurance, money-off vouchers and breakdown cover, are virtually useless for millions who sign up to them.
07/31/2012
France Introduces Financial Transaction Tax
Anyone buying shares in some of France's biggest companies will now pay a controversial new tax on the transaction.
07/31/2012
UK fraud agency dealt fresh blow in Tchenguiz case
Two top judges slammed Britain's fraud-busting agency on Tuesday for obtaining search warrants unlawfully during a controversial probe into property magnates Vincent and Robert Tchenguiz, dealing a fresh blow to embattled investigators.
07/30/2012
Ulster Bank settles case with Dublin developer over alleged mis-selling
The bank declined to comment yesterday on reports that the confidential settlement included a write-off of swaps and loans worth €30 million, in addition to payment of Mr Agar’s legal fees of €1 million.
07/30/2012
Eurosif Supports Landmark European Commission Proposal Promoting ESG Investment Disclosure
It is also consistent with the recent European Commission Communication on Corporate Social Responsibility (CSR)2 and linked to other financial reforms aimed at helping to rebuild confidence in European financial markets amongst retail investors.
07/29/2012
Linklaters appoints leading finance partner in Belgium
Linklaters has one of the leading finance practices in Belgium.
07/29/2012
Lawrence Graham scoops magic circle in BBA Libor probe
The team is headed by employment partner Helga Breen, white collar crime and fraud partner Eoin O’Shea and partner Richard Everett, a financial services regulation specialist.
07/29/2012
FSA clampdown on packaged accounts
From the end of March, banks and building societies will be forced to check that customers are eligible for the insurance they sell as part of packaged current accounts that carry a monthly fee.
07/29/2012
Surge in suspicious trade reports to FSA
The quality of the warnings, known as STRs, has been deemed to be good and several have sparked investigations by the regulator’s market monitoring divisions.