03/18/2016
SFO faces new test in ‘Euribor 5’ case
It suggests that the SFO is losing its appetite for risk
Legal, Regulation & Compliance
03/18/2016
ECB Urges Italy Banks Planning M&A to Target Strong Capital
The ECB is stepping up pressure on Italian banks to tackle an estimated 360 billion euros of troubled and defaulted loans that are undermining new lending and weighing on the economy.
03/18/2016
UBS Says European Court to Hear Challenge in French Tax Case
France ordered the bank in July 2014 to post a bond of 1.1 billion euros in connection with the probe. UBS disputed the legal basis for the bail and the method of calculation.
03/17/2016
Saudi ambassador sues Irish ‘fraudster’ for £25m
Mr Ryan’s business partner, Mohammed bin Abdulrahman al-Bisher, the Saudi Arabian ambassador to the United Arab Emirates, is suing him for the return of money he claims he paid into the businessman’s personal bank account.
03/17/2016
FCA paper soothes liquidity fears in UK corporate bond market
The study on the bond market period between 2008 and 2014 dismissed fears that liquidity had become 'flighty' despite some mild and moderate shocks (including 'taper tantrum' and the US Treasury 'flash crash.'
03/17/2016
Terry Smith sues Barclays over missed investment gain
He claims it took nearly three years for the transfer from Aethelflaed Investments to purchase investments in the £4.6 billion Fundsmith Equity fund.
03/16/2016
Amazon being probed for alleged tax evasion in Italy: Reports
Amazon pays all applicable taxes in every jurisdiction where we operate, including Italy.
03/16/2016
Former equities trader pleads guilty to insider dealing
Former equities trader pleads guilty to insider dealing
03/16/2016
Former IFA given two extra years in jail
He was made bankrupt on 30 January 2013 and at the time the Confiscation Order was made, it was accepted that he had no assets available to him to satisfy it.
03/16/2016
Slaughter and May is advising Oddo & Cie - disposal of Kleinwort Benson wealth management business
Subject to regulatory approvals, Kleinwort Benson will be combined with Société Générale Private Banking Hambros to create one of the leading private banks in the UK.
03/16/2016
Hogan Lovells Advises M&G Real Estate on the Largest Ever City Centre Office Development Outside of London
On completion at the end of 2018, it will comprise 385,000 sq ft of office space and 35,000 sq ft of retail and leisure, housing around 4,000 workers.
03/16/2016
WMA: Brexit could ramp up UK regulation
Currently their UK authorisation allows remote or in-person access to clients in other member states subject only to notifying the local regulator
03/16/2016
Credit Suisse Accused of Money Laundering in Wealth-Manager Case
The complaint is based on hearings, a review of the evidence as well as information received from MROS, Switzerland’s Money-Laundering Reporting Office, the lawyers wrote.
03/15/2016
Adviser says redefining advice is a waste of time
This would bring the definition of regulated advice in line with Mifid rules.
03/15/2016
Momentum UK responds to recommendations from the Financial Advice Market Review
Clearly people need professional advice and guidance to help address this issue – but it cannot come at an exorbitant or exclusive cost.
03/15/2016
Germany Says Proposed MiFID Market-Rules Delay Comes Up Short
The finance ministry instead is calling for a set of deadlines tied to whenever the final rules take shape, according to a paper sent last week to negotiators from EU nations.
03/15/2016
Guide to Public Offering of Companies in Guernsey, Isle of Man and Jersey - Appleby
This Guide is a summary of the law and procedures relating to private trust company (PTC) structures in Guernsey.
03/15/2016
Wealth managers warn MiFID II reporting demands will raise costs
Panic selling also a risk
03/15/2016
Trader arrest said linked to Russian probe of Deutsche Bank
His arrest is linked to transactions that involved the bank, said the people, who asked not to be identified because they’re not authorized to speak with journalists.
03/15/2016
Plans for major bank shake-up
These changes affect only the largest banking groups worth £25bn.