06/14/2012
UK firms are faced with a 'tsunami' of regulations
Firms must create a comprehensive regulatory environment to cater for Basel III and EBA Common Reporting deadlines of January 2013
Legal, Regulation & Compliance
06/14/2012
Ex-Fund Manager Sues Saying RBS Ignored Fraud Warnings
The complaint was filed in London in April and made available by the court last week.
06/14/2012
Trading house sues Barclays for £133m over Swedish deal
Barclays Bank is being sued for €164m (£133m) by an irate former client which claims the lender went behind its back and bought a company it was itself pursuing.
06/14/2012
Schulte Roth & Zabel adds leading transactional and private equity funds partner to London office
Mr. McNally provides advice on corporate transactional and private equity fund matters, including mergers and acquisitions, joint ventures, fund formation and financings. Mr. McNally trained at magic circle firm Slaughter and May.
06/14/2012
Law abiding British expats have nothing to fear from France’s trusts clampdown
A report in the British media that claims the 200,000 British expats in France are in a frenzy as they face a shock stealth tax on Friday has been questioned by the world’s largest independent financial advisory firm.
06/14/2012
Sesame faces FSA complaint over UCIS 'mis-selling'
Sesame has until the middle of next week until an official complaint is made, Pruggmayer said. Read more: http://www.ifaonline.co.uk/ifaonline/news/2184326/sesame-fsa-complaint-ucis-mis-selling#ixzz1xly5od6S IFA Online - News, blogs and analysis for IFAs
06/14/2012
France backs stronger ECB role in bank surveillance
France wants the European Central Bank to have a stronger role in overseeing banks in the single currency bloc as part of a package of urgent reforms to increase financial stability in Europe, sources said on Wednesday.
06/13/2012
2,400 People Sign Up for Liechtenstein Tax Agreement
Both nations will sign a double taxation agreement Monday.
06/13/2012
Compliance officer fined £10k by FSA
Gregory White of Accendo Markets received the penalty for failing to meet FSA compliance requirements and for not exercising due skill, care and diligence.
06/12/2012
Herbert Smith avoids RBS's aspersions thanks to judge in Highland case
The Royal Bank of Scotland’s legal team was warned against trying to assign blame to the bank’s sacked lawyers at Herbert Smith when the taxpayer-backed institution failed to block a hedge fund from being able to sue it in a Texas court.
06/12/2012
Linklaters and White & Case land roles on Sberbanks $3.9bn Denizbank deal
Linklaters was retained to advise Russia’s largest bank on its acquisition of Turkish-based Denizbank from Belgium’s Dexia.
06/12/2012
Defunct day-trading group challenges FSA
The Financial Services Authority is seeking to fine Swift Trade and its successor company Canada Inc a near record £8m for what it alleges was “layering” – placing and cancelling multiple trade orders in order to move the price of
06/12/2012
Compliance group warns of FSA visits over fund switching
TCC client services director Ian Stott said advisers should expect visits from the Financial Services Authority (FSA) as it hones in on fund switching once it has finalised guidance on centralised investment propositions.
06/08/2012
HMRC warning to London 2012 Olympic torchbearers
Olympic torchbearers may have to pay tax if they decide to sell their keepsakes to the highest bidder, they have been warned by the taxman.
06/08/2012
World's largest forex player enters Malaysian market
The world's largest player in the foreign exchange has launched its first regional hub in Southeast Asia.
06/08/2012
Bail granted to UBS trader accused of fraud in $2 billion loss at Swiss bank
The amount of bail was not disclosed. Adoboli must wear an electronic tag and reside at a friend’s house under the terms set by the court. He is due to stand trial in September.
06/08/2012
Bail granted to UBS trader accused of fraud in $2 billion loss at Swiss bank
The amount of bail was not disclosed. Adoboli must wear an electronic tag and reside at a friend’s house under the terms set by the court. He is due to stand trial in September.
06/07/2012
Reykjavik Court Rejects Credit Suisse Kaupthing Priority Claim
Kaupthing failed with the rest of Iceland’s largest lenders in October 2008 after it was unable to secure short-term financing.
06/07/2012
High Court quashes £100k FSA fine against ex-banker
The claimant, who has been granted anonymity, brought the judicial review proceedings to challenge a decision made by the Regulatory Decisions Committee to issue a decision notice against him in October 2010.
06/07/2012
Freshfields competition veteran heads to Milbank's London arm
Spearing, who joined Freshfields in 1978 and made partner in 1984, has already joined Milbank, where according to the firm's website he is the first UK competition partner in the London office.