10/22/2014
Too many tweets may make a Twit by Amber Melville-Brown, Withers
Jack Dorsey christened as ‘Twitter’ the product he created to provide ‘a short burst of inconsequential information’.
Legal, Regulation & Compliance
10/22/2014
Fried Frank continues to grow with Orrick's London tax head
Mr. Thornton advises clients on the tax aspects of a range of business matters
10/22/2014
EU Bank Watchdog Urges Bulgaria to Ensure Instant Access to KTB Deposits
European Banking Authority said Monday Bulgaria should allow immediate access of depositors at Corporate Commercial Bank (Corpbank, KTB) to their savings.
10/22/2014
Offshore law firm welcomes new partner to Jersey funds practice
A leading light in the specialist funds and offshore corporate space for more than a decade
10/22/2014
Pimco's banking expert expects 18 lenders to fail ECB stress test
The stress test and an additional review of the banks' assets by the ECB are jointly aimed at answering the questions many investors still have about the health of the region's banking system in the wake of the financial crisis.
10/22/2014
AIFMD: How to Manage the Risks and Reap the Rewards
Under the European Union’s Alternative Investment Fund Managers Directive, investment managers must quickly assess the risk profiles of their funds, understand the various types of risk exposures, and meet the reporting requirements that the directi
10/22/2014
Bankers Face Bans on Buying Clients Shots, Bottle Service
Banks in London are expanding curbs on entertainment, with some adding bans on buying clients shots and expensing pricey bottle services for tables at nightclubs.
10/21/2014
HSBC attacks 'retrograde' EU bonus cap
Douglas Flint, the chairman of Europe's biggest bank, says restrictions on pay are hitting banking industry and making it difficult to hire top talent
10/21/2014
Family Wealth Management in Luxembourg
Despite increasing pressure for fiscal transparency and exchange of information, beneficial owners still have a choice: move the capital out (of Luxembourg), or move the owner in.
10/21/2014
The European Commission fines JPMorgan, UBS, Credit Suisse total US$120m
Antitrust: Commission settles cartel on bid-ask spreads charged on Swiss Franc interest rate derivatives; fines four major banks € 32.3 million
10/20/2014
Banks set to defy European regulator on bonus rules
European Banking Authority's request for banks to change policies related to 'allowances' expected to go unheeded this year
10/20/2014
UK banks should have fewer complaints about more compliance
Reform will have a positive impact on the City’s reputation as a banking centre, says Philip Augar
10/20/2014
Augentius Approved as Luxembourg Depositary
Augentius has received authorisation from the Ministère des Finances, Luxembourg to act as an authorised depositary to private equity and real estate funds in accordance with the Alternative Investment Fund Managers Directive (AIFMD).
10/20/2014
Ex-Oval advisers hit with legal claim over ‘poaching’
US-based employee benefits giant Arthur J Gallagher acquired the insurance broking and wealth management specialist in April 2014 in a deal worth £199m, in what was described by UK chief executive Tim Johnson as a ‘game-changer’.
10/20/2014
Inflexible views on flexible pay
In just 36 hours last week, a crack widened into a chasm between two key regulators on the issue of bankers’ pay. Closing that gap is going to take a very long time.
10/20/2014
Bank of England warns on bankers’ pay
Shareholders have gone from getting 60 cents for every dollar in pay for staff before the crisis to getting 25 cents per dollar in 2013.
10/20/2014
Guernsey regulator supports new benchmark standards for TCSPs
The Guernsey Financial Services Commission (GFSC) has welcomed the Group of International Finance Centre Supervisors' (GIFCS) new benchmark for the regulation of trust and corporate service providers (TCSPs).
10/20/2014
Ogier advises Friends Life on £317 million sale of Lombard
Following the sale, Friends Life intends to return the full £317 million to shareholders via a buy-back of Friends Life's shares.
10/19/2014
UK Beneficial Owner Disclosure and Its Potential Impact on Global Financial Businesses
As part of the continued international focus on combatting cross-border tax evasion and other financial crimes, during the June 2013 Lough Erne Summit presided over by the United Kingdom (G8 Summit), the G8 countries agreed to a set of principles intended
10/18/2014
Heirs to art looted by Nazis sue Swiss bank for fraudulent sales
USB accused of using family name to establish 'sham' foundation, rather than looking for surviving relatives.