08/10/2013
More trouble in store for UK banks
A list of all the potential legal problems and investigations facing our big financial names makes daunting reading
Legal, Regulation & Compliance
08/10/2013
International business law firm hires Davenport Lyons finance partner
International business law firm has strengthened further its leading finance group by hiring a partner from Davenport Lyons.
08/09/2013
US prepares to charge London bankers in JP Morgan trades case
The charges would mark a dramatic escalation in the wake of the revelation last year
08/08/2013
London Whale 'won't face charges over $6.2bn loss at JPMorgan'
Bruno Iksil, the “London Whale” trader at the centre of JPMorgan’s largest ever trading loss, will not face charges over the incident, according to reports.
08/08/2013
FCA fines Guaranty Trust Bank £525,000 for failures in its anti-money laundering controls
Banks are at the front line in ensuring the proceeds of crime do not enter the UK financial system.
08/07/2013
Bonelli moves banking partner to London to reinforce international offering
Bonelli has also hired the general counsel of contracting company Ansaldo, Mauro Gigante, as an of counsel in Milan. Gigante will work regularly with the London office.
08/07/2013
FCA fines compliance officer and broker a combined £116k
The FCA said it considered the case to be particularly serious
08/07/2013
King & Wood Mallesons and SJ Berwin advise IRESS on acquisition of Avelo FS Holdings
Less than one week after announcing their merger, King & Wood Mallesons and SJ Berwin are joining forces to advise ASX-listed IRESS on its acquisition of Avelo FS Holdings, a provider of financial services technology in the UK.
08/06/2013
FCA cancels permissions of Goldthorn after compulsory liquidation
The Financial Conduct Authority (FCA) has cancelled the permissions of insurance and mortgage broker Goldthorn Mortgage & Insurance Services following the liquidation of the company.
08/06/2013
UK watchdog launches second Grant Thornton investigation
Britain's accounting watchdog has launched its second investigation in as many days into Grant Thornton, the auditor and advisory firm named in a legal battle between property mogul Vincent Tchenguiz and the Serious Fraud Office.
08/05/2013
Bank faxed customer details to wrong people for years
Private details of dozens of Bank of Scotland customers, including bank statements and passport copies, were repeatedly faxed to wrong numbers for four years
08/04/2013
Legal costs mount for Europe's banks
Many of Europe's top banks have more than tripled their provisions for litigation and regulatory expenses over the past year
08/03/2013
Fraud bosses 'should return £1million pay-offs'
Three civil servants who left the Serious Fraud Office with ‘golden goodbyes’ worth £1million have been urged to hand money back to taxpayers.
08/03/2013
LME and Goldman face suit over metals 'monopolism'
The lawsuit alleges "anti-competitive and monopolistic behaviour in the warehousing market in connection with aluminium prices
08/02/2013
Bank of England gives lenders six years to plug £121bn black hole
The PRA also claimed that an unknown number of investment banks face a shortfall of up to £29bn. These include US giants Goldman Sachs and JP Morgan, which both have large operations in the UK.
08/01/2013
Killik hit with £544,000 FSCS bill
Killik described the bill as a ‘large payment’ and said its size came down to the portion of costs it had to pay in order to compensate clients for the failure of other financial institutions.
08/01/2013
S&P casts doubt on 2016 Solvency II implementation
An examination of the European Insurance and Occupational Pensions Authority’s assessment of the future of Solvency II by Standard & Poor’s has led to claims that “numerous hurdles remain” ahead of a planned 2016 implementation
07/31/2013
DWF Leeds advises Mattioli Woods on £6m acquisition
The deal is valued at up to £5.99 million and is to be satisfied partly in cash
07/30/2013
Four arrests made in FCA's insider dealing investigation Four arrests made in FCA's insider dealing investigation
The FCA with the assistance of the Metropolitan Police has this morning executed search warrants in West London.
07/30/2013
JP Morgan under investigation in Monte Paschi probe
Italian prosecutors probing Monte dei Paschi's 2007 acquisition of a smaller rival are investigating U.S. investment bank JP Morgan over an alleged crime committed by one of its employees