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.
Legal, Regulation & Compliance
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.
07/29/2012
'Britons evaded £200m in tax' using HSBC-owned Swiss bank
Trade minister who headed banking division is facing further pressure
07/29/2012
Ex-Billionaire Quinn Says Anglo Irish Cost Family $4.1 Billion
Ireland’s High Court found both men and the elder Quinn’s nephew Peter Darragh Quinn in contempt of court last month for putting assets outside of the reach of Anglo Irish’s successor, Irish Bank Resolution Corp.
07/29/2012
Libor scandal: RBS facing huge fine, warns chief Stephen Hester
Stephen Hester has warned that Royal Bank of Scotland is facing a huge fine over the Libor scandal that has engulfed Barclays.
07/29/2012
HSBC to set aside £600m to cover mis-selling and money laundering scandals
HSBC is also likely to face questions over the potential impact of Libor-related claims.
07/29/2012
£500-a-day banker admits benefit fraud
Adam Lancelot, 35, spent his earnings on a Mercedes convertible, a kitchen refurbishment, foreign holidays and restaurant meals.
07/29/2012
RBS could face Libor fines, admits Hester
He said that the taxpayer-backed bank was being probed as part of the Financial Services Authority (FSA) investigation into the rigging of the Libor. Barclays lost three executives and faces a £290m fine.
07/29/2012
New regulator must be smarter, faster and bolder says Panel
The Financial Services Consumer Panel has today made six recommendations that it believes are essential if the FCA is to deliver more effective protection for consumers than its predecessor
07/26/2012
Investors demand hedge funds show clean hands on Libor
These hedge funds have responded with in-depth internal probes which they hope will assure investors that they did not collude with the banks, are completely clean and will not become embroiled in the affair, people familiar with the funds said.
07/26/2012
STEP publishes ‘five point plan’ to combat tax evasion
Central to this programme is the view that professional bodies such as STEP have a key role in working constructively with tax authorities around the world to develop guidelines as to what constitutes abusive tax avoidance.
07/26/2012
OECD welcomes multilateral efforts to improve international tax compliance and transparency
The OECD welcomed today a new model international tax agreement designed to improve cross-border tax compliance and boost transparency.
07/26/2012
G5 FATCA agreement strengthens UK ability to tackle tax evasion
This is a key step towards delivering on the commitment to an intergovernmental approach to implementing the US Foreign Account Tax Compliance Act (FATCA) made by the same countries in their joint statement published on 8 February 2012.
07/26/2012
Another FSA probe at Barclays
The FSA's probe also relates to a debt sale by Barclays the following year.