07/30/2014
Boiler room conspirator ordered to pay £109k
All defendants were found guilty of conspiracy to defraud apart from Coleman who pleaded guilty to three counts of money laundering.
Legal, Regulation & Compliance
07/30/2014
Financial Incentives for Whistleblowers - FCA
This note sets out our agreed conclusions.
07/30/2014
Banking Regulators want bankers to accept criminal liability under new plans
Main City watchdogs want a new licensing regime for bankers, which could also see bonuses deferred by up to seven years
07/30/2014
U.K. Ban Upheld on Hedge Fund Manager Alberto Micalizzi
Mr. Micalizzi was chief executive of hedge fund firm Dynamic Decisions Capital Management Ltd. and ran hedge fund DD Growth Premium Master Fund
07/29/2014
European Central Bank’s opaque-asset review seen aimed at Deutsche Bank
As part of its review of 128 lenders, the European Central Bank is studying lessactively traded loans
07/29/2014
Lloyds fined £218m over Libor rate rigging scandal
The firms were a significant beneficiary of financial assistance from the Bank of England through the SLS
07/28/2014
Wragge Lawrence Graham & Co achieves turnover of £172 million
Wragge Lawrence Graham & Co's chief executive David Fennell said: "The merger consolidates our position among the UK’s top 25 firms and creates a strong platform for further growth and success.
07/27/2014
Deutsche Bank, HSBC Accused of Silver Fix Manipulation
Deutsche Bank AG (DBK), HSBC Holdings Plc (HSBA) and Bank of Nova Scotia were accused in a lawsuit of rigging the price of billions of dollars in silver, an allegation similar to earlier suits involving the London gold fix.
07/27/2014
London asset manager takes UBS to court
“The financial stakes in this dispute are very high, the parties having contemplated annual revenues of circa $200m once their venture was up and running,” Decura said in its written legal argument filed in court.
07/25/2014
Lloyds to pay up to £300m Libor fines
Lloyds Banking Group is preparing to announce early next week that it will pay fines of £200m-£300m to US and UK regulators to settle allegations that the British bank manipulated major interest rate benchmarks.
07/25/2014
Ex-boss of stricken Banco Espirito Santo arrested
Mr Salgado had been a voluntary witness in the probe and said in January 2013 that he had always paid his taxes and was not a suspect
07/25/2014
Barclays attempts to have 'dark pool' fraud lawsuit thrown out of court
The British bank files rebuttal to serious allegations made by New York Attorney General over promotion of its electronic trading platform
07/25/2014
UBS Wins Case Over Firing of Drug Analyst in Front-Running Probe
A London judge said UBS AG had the right to fire a senior analyst who discussed rumors about a Sanofi drug with a friend at a hedge fund who may have bet against the company before publishing a report causing its shares to drop.
07/24/2014
UBS charged with tax fraud in France: judicial source
The bank will now have to pay a total bail of 1.1 billion euros ($1.5 billion), the source said.
07/24/2014
Dentons lawyers co-author ‘BNP Paribas Real Estate Guide to Investing in Poland 2014’
Dentons lawyers involved in the project include Monika Sitowicz and Magdalena Osobka-Morawska from the real-estate group
07/24/2014
Edwards Wildman corporate head quits for Morgan Lewis
His exit comes as rumours continue to circulate about the future of Edwards Wildman’s London office and a number of departures, including private equity and emerging company specialist Shawn Atkinson, who joined Orrick last month (20 June 2014).
07/24/2014
Cypriot firm launches legal action against EU over 'bail-in'
The haircut was imposed by the EU
07/24/2014
FCA launches criminal trial against FX fraudste
First court appearance was at City of London Magistrates’ Court on 22 July 2014
07/24/2014
rathbones Statement Re Settle Of Legal Proceedings
The settlement is expected to become unconditional before the end of October 2014. A further announcement will be made once the settlement has taken place.
07/24/2014
FCA imposes recruitment ban on the Financial Group for failing to control its Appointed Representatives
The firms failed to ensure that their ARs and individual advisers were adequately supervised and controlled to minimise the risk of mis-selling and the provision of unsuitable advice to consumers.