10/01/2013
80 Investors Owe €18m to Bank After Signing with Accountant
A Group of More than 80 Investors Have Found Themselves Owing Almost €18m to Bank of Scotland After Signing over power of attorney to an accountant for an investment project.
Legal, Regulation & Compliance
10/01/2013
Creation of new global force in legal sector – one year on
October 1 2013 marks the first-year anniversary of Herbert Smith Freehills following last year's landmark full-equity merger, which was one of the largest ever in the legal sector.
10/01/2013
Clydesdale brought to task on loan errors
A statement by the FCA last week revealed that Clydesdale, which is owned by the National Australia Bank
10/01/2013
Report: Spain Will Likely Extradite The JP Morgan Trader Connected To The London Whale Debacle
Another day, another legal headline for JP Morgan.
09/30/2013
UK financial watchdog taking longer to approve firms
The FCA and the Bank of England took over supervision from the Financial Services Authority
09/30/2013
Finnish law Firms Merge to Form €28m Outfit
Finland’s Bützow and Juridia have merged to create a €28m firm employing over 100 lawyers.
09/29/2013
Linklaters replaces Freshfields as PPI adviser to Lloyds Banking Group
It is a major project win for Linklaters as the first significant assignment for the retail bank
09/29/2013
Britain’s EU bonus challenge offers little hope for bankers
This follows its legal challenges to EU plans for a tax on financial transactions
09/28/2013
Icap brokers demand British trial
One of the three former Icap brokers charged last week by the US Department of Justice over alleged Libor rigging is attempting to have his case heard in Britain.
09/28/2013
London Bullion Body Could Charge More or Disband Gold Rates
The London Bullion Market Association could charge its member banks more or even disband its Gold Forward Offered Rates after a string of new regulations in the financial market
09/27/2013
EU Watchdog Wants to Charge Foreign Clearing Houses
The European Union's markets watchdog wants to charge foreign clearing houses seeking to cash in on new derivatives rules being introduced across the 28-country bloc, an EU document showed on Saturday.
09/25/2013
Clydesdale Bank fined £8.9m by City regulator
Letters the bank sent to customers suggested that they had no alternative but to bring their repayments up to date
09/25/2013
Chancellor files legal challenge to EU cap on bank bonuses
George Osborne has lodged a legal challenge to attempt to halt European attempts to bring in a cap on bankers bonuses
09/24/2013
ICAP Hit With Big Fines Over LIBOR-Fixing Scandal
This fine comes alongside action from the United Kingdom’s Financial Conduct Authorit
09/24/2013
Clifford Chance takes top gong at The Lawyer Management Awards
Global head of business transformation Oliver Campbell and his team were rewarded for radically improving efficiencies of legal services delivery.
09/23/2013
Top BofA Executive Under Fire for Libor Testimony
The latest development in the years-long Libor saga arrives today with news that a top Bank of America executive faces criticism for supposedly misleading a U.K. Parliamentary committee about his Libor testimony earlier this year.
09/22/2013
Draft Commission Regulations for Money Market Funds - Withers
Click below for full document
09/22/2013
FATCA update for fiduciaries - Withers
Trusts covered by an applicable IGA will be subject to home country implementing legislation.
09/22/2013
Job Watch: White-collar crime
Earlier this summer the Sentencing Council of England and Wales announced new proposals for tougher punishments for white collar criminals
09/22/2013
FSCS awaiting SFO probe results before paying out over Arck advice
Arck is a UK based investment vehicle that was set up to develop and sell overseas based properties.