08/30/2018
Legg Mason pays $71m to settle Libya bribery case
Global investment manager involved in scheme to secure investments from Libyan officials
Legal, Regulation & Compliance
08/30/2018
Former Lumiere director claims he “had little choice” during fraud trial
Once he began meeting the clients who had been affected, he realised most were not seasoned investors.
08/30/2018
Pensions Regulator in warning to 14 company retirement schemes
In letter obtained by Royal London following FOI request, the regulator fears amount of cash flowing out of company 'defined benefit' schemes has reached record levels
08/30/2018
Poland: New Law On Cybersecurity In Poland
The ANCS will introduce a national cybersecurity system, which will include the biggest service providers from various sectors in Poland, as well as governmental and local administration.
08/30/2018
Troubled Greyfriars tells clients they 'may wish' to find new IFA
Greyfriars will continue to ‘provide administration services to the products and investments you hold as a servicing agent’ and will ‘continue to administer your pension wrapper’.
08/30/2018
Old Mutual gears up for regulatory change in the advisory business
These are big changes for advisory businesses
08/29/2018
Adviser trade body enters financial crime partnership
In the UK, £193bn was lost to financial crime in 2017 with more than 630,000 reports to the National Crime Agency over the 18 months to December 2017
08/29/2018
RBS boss in bribe inquiry given payoff
Banker had been suspended from scandal-hit unit
08/29/2018
Swiss watchdog to propose looser anti-money laundering rules for fintechs
Switzerland, the world’s largest centre for offshore wealth, has gained prominence in recent years as a hub for financial technology providers
08/29/2018
Regulator asks trustees to report on financial advisers
Scheme trustees are being asked to "provide details on a monthly basis of the transfer activity in the scheme
08/29/2018
DOJ wants to exclude expert testimony proposed by ex-Deutsche Bank traders in LIBOR-rigging case
The defendants’ proposed expert testimony as to the adequacy of the government’s discovery, establishment of the conspiracy, and benefit or harm to Deutsche Bank’s counterparties is incurably improper, the DOJ argues.
08/29/2018
From Roman stoics to UK case law – lessons on stress management
"From the point of view of employers, prevention is always better than cure – this session looks at case law about how the courts and tribunals deal with stress disputes, how potential claims arise, and what the statute book has to say.
08/29/2018
FCA taken to information watchdog over adviser complaint
All of these discrepancies might in certain circumstances be no more than merely academic
08/29/2018
Big four accountants KPMG, EY, PwC and Deloitte in firing line over partners' pay
Deloitte revealed its 702 equity partners made an average £832,000 of profits each in the year to May 31, the highest pay-out for nine years.
08/28/2018
Deloitte and Linklaters end legal battle with ex-Arsenal investor
The Indian-born business woman, whose net worth is believed to stand at around $202.5 Million (£157.36 million), subsequently sued Linklaters and Deloitte for their roles in advising her on the deal.
08/28/2018
German, Swiss Lenders Change Strategy on Negative Interest Rates
Banks introduce, cancel or change fees on customers’ savings
08/28/2018
Davy hikes value of Dublin MetLife offices as lease extended
Fund increases value on building to €40m from €27.5m it paid for the property in 2014
08/28/2018
Informants make double the calls to tax fraud hotline
HMRC handed out £343,500 for tip-offs in 2017-18, down 23% on previous year
08/28/2018
Insurance brokers call for post-Brexit equivalence regime
"Buyers of insurance must not be the unintended victims of Brexit," said LIIBA chief executive Christopher Croft, writing on LinkedIn.
08/28/2018
Metro Bank pays another £2.8m to firm owned by chairman’s wife in deal that casts doubt on its claim to be different to rivals
The latest £2.8m was given to InterArch for its work during the first six months of 2018.