10/04/2018
Challenge to very first unexplained wealth order dismissed
UK’s National Crime Agency investigating properties worth £22m in south-east England
Legal, Regulation & Compliance
10/04/2018
Russian Billionaire Accuses Sotheby’s of Price Inflation in a $380 Million Suit
The businessman sought all documents related to the value of the works bought or sold in a transaction involving Sotheby’s and Bouvier
10/04/2018
Global Financial Institutions Fined $26 Billion for AML, Sanctions & KYC Non-Compliance Since 2008 Financial Crisis
Over the past ten years, regulators across the US, Europe, APAC and the Middle East have levied nearly $26 billion dollars in financial penalties against financial institutions for AML/KYC and sanctions-related violations.
10/04/2018
Basel III monitoring results published by the Basel Committee
Data have been provided for a total of 206 banks, including 111 large internationally active banks.
10/03/2018
Mifid II bites: Small brokers in danger of getting picked off
Losses at Arden Partners doubled in the six months to May to £2.3 million, with WH Ireland also reporting a second year of losses in July.
10/02/2018
City job cuts loom as Bakers puts 300-plus business staff under consultation in efficiency drive
Support roles in the City are under threat again as Baker McKenzie has launched a review of its entire London professional and business services (PBS) staff, estimated to include around 350 people. Kicking off at the end of this month as part of the firm
10/02/2018
Maples Group Further Expands Legal Service Offering to Include Luxembourg
The Maples group is now able to provide a comprehensive range of legal, fiduciary and administration services from Luxembourg, which is complemented by the group's offering from its locations within other key international financial centres.
10/02/2018
ESMA Letter to European Commission on MIFID II/MIFIR Third-Country Regimes
The letter is a follow-up to an earlier letter concerning some MIFID II/MIFIR requirements regarding trading venues.
10/02/2018
Advisers warned to cut charges to 1% under Mifid
The problem is the costs for our clients is our income so that's a difficult decision but there is a lot of pressure on margins because clients know what they are paying and it is becoming transparent.
10/01/2018
You must face consequences, UBS’s ex-boss Oswald Grübel tells Kweku Adoboli
He got a trial and it’s very clear from the trial that he defrauded the bank on purpose and with intelligence.
10/01/2018
HSBC to face calls to 'quit Malta' as MEPs threaten campaign against UK's biggest lender
Malta’s financial services authority, the MFSA, has been under pressure from Brussels in recent months after a European Banking Authority report found “general and systematic shortcomings” in how Malta applies money-laundering rules.
10/01/2018
German regulator worried by banks' loose lending standards - Handelsblatt
His warning came after Germany's leading economic institutes cut their forecast for economic growth this year to 1.7 percent and warned that an escalation of trade frictions involving the United States could cause a major recession.
10/01/2018
EU protection advice overhaul causing problems
The directive sets out the information consumers should receive before they sign an insurance contract and also imposes conduct of business and transparency rules on distributors.
10/01/2018
Tesco Bank fined £16.4m over cyber attack
The Financial Conduct Authority (FCA) has fined Tesco Personal Finance plc (Tesco Bank) £16,400,000 for failing to exercise due skill, care and diligence in protecting its personal current account holders against a cyber attack. The cyber attack too
10/01/2018
Carey Olsen is top adviser for investment funds in Guernsey
The Monterey Insight survey is further good news for Carey Olsen's corporate team as it follows confirmation earlier this year that the firm now advises 100 London Stock Exchange listed clients
09/30/2018
IMF Publishes Fiscal Transparency Evaluation for Malta
The report recognizes several key strengths of fiscal transparency practices in Malta.
09/30/2018
Divorce ‘fighting fund’ for spouses of rich
Access to Justice Fund is about giving equality of arms to the weaker party in divorce
09/30/2018
The Luxembourg SPF: A private wealth management company of choice
Ultimately, with Luxembourg being a highly developed centre of legal and financial services, private individuals wishing to structure their assets' holding and financing benefit from a one-stop-shop meeting all their expectations.
09/28/2018
ESMA Published Final Report Amending RTS on the Clearing Obligation for Intragroup Transactions
ESMA, with the first deferred deadline approaching on 21 December 2018, aims to find the right balance between the objective of a temporary exemption
09/28/2018
Macquarie Group CEOs may be interviewed by German police over share trading case
Macquarie says Nicholas Moore and Shemara Wikramanayake could be classified as ‘persons of interest or suspects’