11/13/2014
High Court boosts financial services employers’ efforts to protect businesses
By Kathryn Rowe, Associate, Appleby
Legal, Regulation & Compliance
11/13/2014
Foreign exchange deals no longer done in shadows
Stiffest penalties ever on errant practices force banks to change tack
11/12/2014
Banks to agree forex settlements
Regulators plan to announce a series of settlements, starting at 5pm (AEDT), with total penalties against seven banks likely far exceeding $US2 billion ($2.26bn), according to people familiar with the discussions.
11/12/2014
'Callous' IFA jailed for stealing £200k from clients
A former financial adviser has been jailed for two years after “callously” conning clients out of almost £200,000.
11/12/2014
Ashurst, Clifford Chance, Freshfields and Linklaters all on CMA bank probe
Linklaters, Clifford Chance, Freshfields and Ashurst have all won roles for the UK’s big four retail banks currently at the centre of a major Competition and Markets Authority (CMA) probe launched last week.
11/12/2014
Danes reveal plans for public company register
Some are concerned that a fully public register would put an end to the financial services industry here
11/12/2014
New proposals for banks relief for Government and taxpayers
New global rules would force troubled banks to slash bonuses and cut shareholders' dividends to protect taxpayers from future bailouts.
11/12/2014
Performance Measurement No Longer Exists in a Vacuum - DST Global Solutions
Investment Management is operating in a world of more – more regulation, more transparency, more meaningful investment information and more control.
11/12/2014
FCA fines five banks £1.1 billion for FX failings
The G10 spot FX market is a systemically important financial market. At the heart of today’s action is our finding that the failings at these Banks undermine confidence in the UK financial system and put its integrity at risk.
11/12/2014
Lawyers vulnerable to money laundering, claims new report
It added that criminals are adopting increasingly sophisticated and complex means to channel illicit funds into the financial system.
11/12/2014
RBS IT Glitch: Ulster Bank Fined £2.75m for Meltdown
The central bank added that when RBS took over Ulster Bank's IT systems in 2005, there was a failure to properly understand the infrastructure or the risks associated with outsourcing.
11/12/2014
Guernsey Financial Services Commission adopts Thomson Reuters Accelus World-Check
The application also offers functionality for large volume/batch screening and automatic ongoing monitoring, to simplify the vetting process and manage larger volumes.
11/12/2014
National law firm expands family law team
National law firm has expanded its family law offering with the appointment of a partner, associate and solicitor.
11/12/2014
French banks' capital cushions need feathering
French banks may be sitting pretty having passed the recent European Central Bank stress tests, but they still need to plump their capital cushions
11/12/2014
Harrison Clark Rickerbys establishes older and vulnerable clients team
The new team will offer specialist advice on issues ranging from dementia to setting up special trusts for those receiving compensation awards
11/12/2014
SocGen Denies Bribing Qaddafi Friend in Libya Fund Case
The payments to Walid Giahmi’s company, Leinada Inc., were for “introductory, market intelligence and follow-up services,” the Paris-based bank said in documents at the first U.K. court hearing in the Libyan Investment Authority’s
11/11/2014
New bank rules proposed to end "too big to fail"
Banks may have to scrap dividends and rein in bonuses if they breach new rules designed to ensure that creditors rather than taxpayers pick up the bill when big lenders collapse.
11/11/2014
Barclays, HSBC Sued by U.S. Soldiers Over Attacks in Iraq
Barclays Plc (BARC), HSBC Holdings Plc and four other banks were accused in a lawsuit by U.S. soldiers of helping Iran process billions of dollars in transfers and finance terrorists who attacked Americans serving in Iraq.
11/11/2014
UK pension plan ‘unworkable’, warns expert
The penalty threat is part of a wider package of pension reforms, championed by George Osborne, which will give pension savers new freedom to cash in their pensions from next year.
11/11/2014
Danes reveal plans for public company register
Although the Cayman Islands government has been given leeway by the UK to address the issue of beneficial ownership in its own way, the issue is one of significant sensitivity to the offshore sector.