09/14/2014
French central bank staff in stolen euros saga
Two employees from France’s central bank have been arrested on suspicion of stealing nearly 2 million euros of used notes, that were set to be destroyed.
Legal, Regulation & Compliance
09/14/2014
Full HSH state guarantees to count in bank health check
In 2012, it reduced those guarantees by 3 billion in expectation of an improvement in business.
09/12/2014
Bank of Russia revokes licence of Moscow Trust Republic Bank
The CBR said that Trust Republic Bank’s internal control rules in the sphere of combating money laundering and terrorism financing did not comply with the Bank of Russia regulations
09/12/2014
Hogan Lovells Advises on Dutch Longevity Hedge
This marks the first time that Delta Lloyd Levensverzekering N.V., the life insurance arm of the Dutch insurance, pensions and investments firm Delta Lloyd, has used the reinsurance market to transfer longevity risk.
09/12/2014
Financial Scandal Fines Haunting Europe's Banks as Investigations Rumble on
That is according to the German private bank Berenberg, which estimates that there are still 63 potential fine situations outstanding from the various on-going investigations by regulators and authorities across the world.
09/12/2014
EU’s OTC derivatives proposals threaten Asian regulatory clash
The EU proposal comes amid growing international strain over the implementation of new rules drawn up by the G20 nations
09/12/2014
EU Says Cyprus Legislation Clashes With Bailout
Those measures include writing off the outstanding amount of a loan once property is foreclosed
09/11/2014
EU bank tests may miss trillion-dollar risk – study
Post-financial crisis, banking watchdogs have regularly submitted banks to an examination of their assets to ensure they could withstand another shock to the global banking system.
09/11/2014
Corporate Social Responsibility Reporting - Withers
There is a growing trend globally towards greater transparency in corporate reporting of non-financial risks and policies.
09/11/2014
Credit Agricole Said to Near Accord in Sanctions Probe
Credit Agricole’s fine could be similar to Commerzbank’s, according to the person. Anne-Sophie Gentil, a spokeswoman for Credit Agricole, declined to comment.
09/11/2014
'Deoffshorisation' of the Russian Economy - Withers
The Russian Ministry of Finance has published an updated version of the draft controlled foreign company rules on the 2nd of September
09/10/2014
BinckBank wins right to use ‘turbo’ name
The Hague district court ruled that BinckBank may continue marketing Binck turbos in the Netherlands because investors perceive turbos to be a generic type of investment product rather than a brand belonging to BNP Paribas.
09/10/2014
MiFID II still worrying UK wealth managers
He adds that the shortening timelines for delivery create issues, as do the clash of inconsistent definitions between separate regulations.
09/10/2014
U.S. regulator would welcome delay of EU clearing rules
The current deadline is December 15, after which new capital requirements kick in
09/09/2014
UBS Asks French Court to Overturn $1.4 Billion Bail in Tax Probe
The bank, Switzerland’s biggest, has been embroiled in tax evasion probes in Europe since it paid $780 million in 2009
09/09/2014
BofA Bond Boss Said Stuck in Limbo by Deutsche Bank Delay
Deutsche Bank has been reluctant to give regulators the clearance that Foresti, an 18-year veteran of the firm, needs to start his new job, said the people, who requested anonymity because the process isn’t public.
09/09/2014
IMA: Scottish groups running 11% of fund industry assets
In its annual asset management survey, it said assets from the fund industry managed in Scotland now stand at £560bn, worth just over a tenth of the total AUM.
09/09/2014
UK finance watchdog making plans in case of independent Scotland
Britain's financial regulator said on Tuesday it has done "basic contingency planning" in case Scotland votes this month to become an independent country.
09/08/2014
BNP Paribas Said to Curb Commodity-Trade Finance to Trafigura
The Trafigura executives said the move is part of a broader exit from the business by France’s biggest lender, according to one of the people.
09/08/2014
FCA in new conduct risk push for wealth management firms
Invitees will range from the largest private client firms