04/20/2018
Barclays CEO Jes Staley faces fine over whistleblower incident
City watchdogs say he broke rules of conduct in his attempts to identify 2016 whistleblower
Legal, Regulation & Compliance
04/19/2018
UBS Broaches Swiss Tax Taboo
At present the AEoI standards haven’t affected Swiss domestic bank secrecy – Swiss clients banking in Switzerland.
04/19/2018
New FCA data show 3.76 million complaints about financial services firms
After PPI, the next most complained about products are current accounts, with 509,047 complaints and then credit cards with 314,586 complaints.
04/19/2018
‘Arrogant’ UK financial adviser to the stars jailed for seven years
“Assault by penetration, using controlling and coercive behaviour and putting a person in fear of violence by harassment”
04/18/2018
Austria revives debate on shielding banks from eastern Europe losses
Authorities want local units in Eastern Europe to staunch the flow of losses so that parent banks are shielded
04/18/2018
Taxman says sorry for pensions blunder as HMRC forced to remove relief calculator from its website
Taxpayers can utilise their allowance from each of the previous three tax years in order to earn tax relief.
04/18/2018
Guernsey Financial Services Commission signs MoU with Bank of England
The PRA is a part of the Bank of England and responsible for the prudential regulation and supervision of banks, insurers and major investment firms, regulating some 1,700 financial firms.
04/18/2018
Europe tries to force cloud providers to give up offshore data
Within six hours in "urgent" cases.
04/18/2018
Top firms line up to be recognised for breaking new ground at Legal Week Innovation Awards
The quartet are joined by Macfarlanes, Shoosmiths, Simmons & Simmons and Ward Hadaway, in a category designed to showcase the firms seeking new ways to provide legal services.
04/18/2018
FCA rules trump EU data deletion law
This has led to some concern among advisers that clients could abuse this rule to weaken the adviser’s position before bringing a claim for compensation.
04/17/2018
Falcon Private Bank ordered to pay CHF 1.8 million to Finma
While the court acknowledged Falcon’s severe due diligence violations, the ruling can still be appealed at the Federal Court.
04/17/2018
Five Ogier partners named in Legal 500 rankings for "knowledgeable and experienced" Luxembourg team
Partners Bertrand Geradin, Laurent Thailly and James Bermingham are also singled out for recognition.
04/16/2018
Carey Olsen assists Blue Water Energy in Norwegian oil firm investment
Mime Petroleum, an independent development and production company, was established by BWE and Sverre Skogen, chairman and CEO of Mime Petroleum.
04/16/2018
EU rules blamed for lack of pension income fix
The comments came as the government and regulators are considering whether to introduce a default retirement solution for people not taking advice when going into drawdown.
04/16/2018
Europe’s EBRD considers expansion in Africa
With abundant capital, European development bank broadens its horizons
04/16/2018
Hounslow drops Capita and heads for West Yorks
Hounslow will be permitted up to two members on the board.
04/16/2018
UK committee to summon Overseas Territories
Mr Mann said he would be chairing a “Treasury sub-committee inquiry into avoidance and evasion, aiming to unpick the failures of policy and resourcing that have allowed the tax base to be undermined”.
04/16/2018
Fiduciary managers sign up to new standard as regulators circle
Far-reaching probe addresses concerns over lack of competition and transparency
04/16/2018
Bahamas waits anxiously for news of EU ‘blacklist’ removal
The bloc’s finance ministers meet as part of the EU’s Economic and Financial Affairs Council, with whom the final decision rests.
04/16/2018
FCA: IFAs can sit on fund group boards as independent directors
Fund managers must have at least two independent directors on their boards and they should make up a minimum 25 per cent of board positions, the FCA ruled.