09/25/2015
Wealth firms call for FSCS reform
In his view, the Financial Conduct Authority (FCA) and FSCS cannot continue to raise fees and expect firms to pay up.
Legal, Regulation & Compliance
09/25/2015
US Signs Competent Authority Agreements With UK, Australia
The new CAAs lay down a framework for the automatic exchange obligations contained in the IGAs
09/24/2015
ECB cuts Deutsche, State Street from ABS purchase program
A source familiar with the situation said Deutsche Asset & Wealth Management's contract had not been renewed.
09/24/2015
Nomura Reaches $492 Million Settlement of Monte Paschi Claim
Nomura will pay 440 million euros $492 million to Monte Paschi while unwinding the transaction, the Tokyo-based firm said Thursday in a statement on its website.
09/24/2015
Meiji Yasuda seals partnership with UK's No. 2 asset manager
The Japanese insurer and its new business partner plan to jointly develop high-yield asset investment products, with foreign bonds to be included in the portfolios.
09/24/2015
French prosecutor calls to dismiss negligence probe into IMF's Lagarde: source
There was no immediate confirmation from the CJR, a special court established to try cases of ministerial misconduct.
09/24/2015
Rival arms of Rothschild dynasty head for battle
A dynasty at war?
09/24/2015
Wembley City trader accused of £73m scam
A City trader from Wembley posed as a multi-millionaire with links to the Vatican and the Spanish nobility in an elaborate £73 million scam
09/24/2015
Banking sector very dynamic
Other European jurisdictions are not keen to license new banks
09/23/2015
Brexit risk will force Bank of England to keep interest rates low for longer, warns UBS
Interest rates could be cut to zero if the UK can not negotiate a strong foothold outside of the EU
09/23/2015
Outstanding success for National law firm in The Legal 500 directory results
National law firm has achieved top tier rankings in 29 practice areas in this year's The Legal 500 directory, with a further 72 practice areas recommended.
09/23/2015
FCA bans and fines Keydata finance director £350k
This had the effect of masking problems with SLS and the performance of the SLS portfolio.
09/23/2015
Wragges advises Santander on financing of luxury goods brand
Santander was able to support Aspinal with an innovative mix of funding lines, which included trade finance and invoice discounting as well as a growth capital loan.
09/23/2015
RBS Said to Eliminate 100 Jobs at Investment Bank in Revamp
In line with the strategy to make RBS a stronger and more sustainable bank, we are simplifying the structure of our corporate and institutional banking division to better serve our corporate and financial institutional customers
09/22/2015
China central bank to sell short-term debt in London
The debt issuance will be the first sale of such notes outside of China and help develop London as a yuan trading hub.
09/22/2015
Upper Tribunal releases its judgment on action against Timothy Roberts and Andrew Wilkins
The Tribunal agreed with the FCA’s decision that Mr Wilkins had acted without due care, skill and diligence.
09/21/2015
UK banks quietly confident they can cope with ringfencing
It has produced a wide spectrum of responses, reflecting the sector’s various strategies.
09/21/2015
Next Wave of U.K. Libor Charges May Focus on Euribor Traders
The SFO was planning to make charging decisions quickly after the interviews, said one of the people.
09/21/2015
Nutmeg hits back at claims it already gives advice
An FCA spokesperson said that in response to calls from the industry, it has done a substantial amount of work in this area.
09/21/2015
UK left out of pocket as Iceland draws a line under bank collapse
Britain and the Netherlands wanted an additional £2.8bn from Iceland over the failure of Icesave in 2008, but are only going to get £100m