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.
Legal, Regulation & Compliance
10/17/2014
Woman, 20, 'conned ex-Schroders bank president out of £80k by posing as police officer'
Sir George Mallinckrodt, retired head of the huge merchant bank, handed over jewellery and cash in alleged 'doorstep fraud' at his Chelsea home
10/17/2014
JPMorgan sets aside $1bn as penalties loom
It is a sign that JPMorgan is close to settling enforcement action, which is being led by authorities in the UK and US and affects more than 15 banks.
10/17/2014
Ofcom completes total pension buy-in with Legal & General
The final deal covered £50 million in liabilities and around 350 plan members for the London-based firm and its Ofcom (former ITC) Staff Pension Plan Ofcom is the regulator for the U.K. communications industries.
10/17/2014
Tier 1 (investor) visa – the price goes up - Withers
The UK Government has at last published the changes that are being made to the Tier 1 (investor) visa route, and we can confirm that the minimum financial threshold is being increased to £2 million. This will not apply to existing holders of the vis
10/17/2014
New benchmark for regulating trust and corporate service providers
The Standard, the first of its type, introduces a new minimum benchmark for businesses administering international trusts and companies to follow. It was formally adopted at GIFCS’ Plenary meeting last month.
10/16/2014
BLP corporate finance partner exits for McDermott
She was previously seconded to the energy company's London office.
10/16/2014
Ex-UBS Exec Opens Up About Swiss Tax Shelters In Weil Case
As federal prosecutors began laying out their case against ex-wealth management head Raoul Weil for conspiring to conceal $20 billion in Americans' assets from the Internal Revenue Service.
10/16/2014
Harneys shortlisted in British Legal Awards 2014
The winners are chosen by an independent panel of judges
10/16/2014
Bank Bonuses That Aren’t Called Bonuses Banned in Europe
Europe’s top banking regulator moved to close a loophole that allows banks to sidestep limits on bonuses by awarding staff payments under different names.
10/16/2014
Addleshaws installs regional office heads as former Manchester chief quits for PwC
Addleshaw Goddard has appointed Tim Wheldon and Malcolm Pike as office heads in Leeds and Manchester respectively in the firm’s latest management change.
10/15/2014
Changes to the UK Tax Residence Rules for AIFs and Pitfalls to Avoid - Dechert
The measure is undoubtedly a positive step for the UK fund industry.
10/15/2014
Regulators launch crack down on 'shadow' banking sector
The change means that if a hedge fund, for example, wants to borrow $100 from a bank, it must now provide collateral worth at least $106.
10/15/2014
Weavering founder pleads not guilty in London fraud trial
The high-profile trial, due to last 10 to 12 weeks, comes at a time of renewed scrutiny of Britain's Serious Fraud Office (SFO), with fresh questions asked this week in parliament about its competency and fitness for purpose.
10/15/2014
UK banks cough up
Britain's biggest banks have paid out £1.5bn to compensate small firms who were mis-sold complex interest rate hedging products
10/14/2014
Carney is right on bankers’ failures
As Andrew Tyrie of the Banking Standards Commission put it: ‘A buck that does not stop with an individual often stops nowhere’
10/14/2014
Russian algorithmic trading company goes bankrupt and issues very direct message to clients!
With the sudden passing of Blackfield Capital following its bankruptcy on Friday, clients are encouraged to “look for Kim Karapetyan in the US” as he has allegedly fled Russia
10/14/2014
McDermott’s Brochet to join Greenberg Traurig Maher’s London office
This is the second high-profile hire for GTM in two months, after the hire of tax partner Graham Iversen last month (2 September 2014). This role is a new one for the firm, which is focusing on expanding its core practice areas.
10/14/2014
Lloyds Banking Group appoints ten-strong core legal panel
Members of the core panel will carry out own-account work for the bank, covering a range of matters for the bank's own business, as well as litigation, regulatory matters and general corporate work.
10/14/2014
Nabarro signs up Lefèvre Pelletier as new French ally
Like Spanish ally Roca Junyent the French firm also has a Shanghai base.