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Ambassador sued for hiding his wealth

Three officials are sued over an alleged concealment of their wealth by the High Inspectorate of Declaration and Audit of Assets.

Sunday newspaper round-up: Life insurers, energy companies, supermarkets

The chief executives of some of Britain’s biggest life insurers have asked regulators to intervene after the Chancellor’s announcement of dramatic changes to the pensions market

EU leaders reach deal to complete banking union

Under new rules, troubled banks could be dealt with in a weekend instead of more protracted process

Deutsche Bank fails to end 4 U.S. lawsuits over soured mortgages

Deutsche Bank countered that buybacks were the only remedy, and that HSBC failed to identify which loans were covered

Treasury Sanctions Russian Officials, Members Of The Russian Leadership’s Inner Circle, And An Entity For Involvement In The Situation In Ukraine

The U.S. Department of the Treasury’s Office of Foreign Assets Control today designated sixteen Russian government officials, members of the Russian leadership’s inner circle, including a Russian bank pursuant to Executive Order (E.O.) 13661,

Russian Hacker Accused Of Raiding Swiss Banks Arrested In Bangkok

Farid ‘Diabl0’ Essebar, one of the creators of the Zotob worm, evaded the authorities for the last three years, and is accused of causing $4 billion worth of damage

Spain’s Rescued Banks Seen Facing Claims on $4 Billion Debts

Arbitrators appointed by the Spanish government are considering claims that might leave rescued lenders Bankia SA, NCG Banco and Catalunya Banc liable to pay compensation to individual investors who bought as much as 3.1 billion euros of junior debt.

PRA sets out draft approach to UK insurers' technical provisions and internal models under Solvency II regime

The UK's Prudential Regulation Authority (PRA) is consulting on proposals which would apply to general insurers under key aspects of the EU's Solvency II regulatory regime.

ECB watchdog tells Europe to prepare to shut 'zombie' banks

Euro zone countries must prepare to shut their failing "zombie" banks and quickly pool the money to do it

IBRC seeks documents from Dubai firms linked to Quinn family

Companies deny role in the alleged conspiracy to move assets beyond the bank’s reach

Bankers sidestepping bonus cap face regulator action: EU’s Barnier

Bankers who sidestep a cap on their bonuses will face action from the European Union’s banking regulator

RBS weighs £4bn share settlement over rights issue legal battle

The Royal Bank of Scotland is considering whether to pay out £4 billion in shares to settle a legal battle with shareholders.

Baker & McKenzie hires former RPC regulatory head

Baker & McKenzie is to be joined in its London financial services group by RPC’s former head of financial services and regulatory Steven Francis.

Jail, but No $7B Payment, for French Rogue Trader

France's highest court upheld a prison sentence for a one-time rogue trader convicted of carrying out one of the biggest trading frauds in history, but threw out the 4.9 billion euros ($7 billion) in civil damages he'd been ordered to pay back.

FCA and Bank of England agree Memorandum of Understanding for supervision of markets and market infrastructure

The Financial Services Act 2012 introduced an obligation to review this MoU annually. The FCA and Bank committed that this review would include feedback from industry and the findings would be published.

Northern Trust Enhances Collateral and Liquidity Solutions

Northern Trust is enhancing its collateral management and liquidity solutions in order to help clients meet the requirements of implementing various regulations, such as the Dodd-Frank Act and European Market Infrastructure Regulation.

Millions frozen in Kazakh exile’s assets in Malta

Austrian lawyer Gabriel Lansky is hunting down one-time oligarch Rakhat Aliyev, although it is unsure whether the Kazakh millionaire is still in Malta

Jerome Kerviel's long walk as jail term looms

I am totally free - for the first time in six years I am free

Judge in Germany Dismisses Hedge Fund Suit Against Porsche Holding

This is an important stage victory

KWMSJB to close Berlin office following strategic review

King & Wood Mallesons SJ Berwin is to shut down its Berlin operations, as two of its three partners exit to launch their own boutique.

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