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
Legal, Regulation & Compliance
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.
09/22/2013
FCA to up Absolute Return disclosure demands
They must also emphasise there are no guarantees a positive return will be achieved over any time period.
09/21/2013
ICAP Nears Libor Settlement
The pact, which could come as soon as Wednesday, would be the fourth settlement in the long-running world-wide investigation into alleged rigging of the London interbank offered rate
09/19/2013
FCA set to take action on disclosing PI shortfalls
The FCA is set to crack down on the lack of disclosure of shortfalls in professional indemnity insurance among advisers and wealth managers
09/19/2013
Law Firm Use of Service Companies Faces Scrutiny in Tax Avoidance Clampdown
The use of service companies by limited liability partnerships could be outlawed in the UK Government's latest clampdown on tax avoidance.
09/18/2013
IMA Review to Clarify Risk Definitions
The working group is to publish a white paper for members, expected in the next few weeks
09/18/2013
Morgan Flattened by Whale
It is hard to know where to begin in describing the savage indictment by regulators in the US and UK of how JP Morgan Chase came to lose a breathtaking $6.2bn from the notorious "London Whale" trades.
09/18/2013
Partnership faces FCA investigation over inducements
Enhanced annuity specialist Partnership Assurance is thought to be one of the two companies the FCA is considering taking action against for inducement breaches
09/17/2013
JPMorgan trader says he is a scapegoat in 'whale' case
The government was making him a scapegoat for the "London whale" trades while letting off his boss.
09/17/2013
JPMorgan to pay £500m settlement for London Whale scandal
The blue blooded investment bank is close to settling investigations into its £3.9billion London Whale losses
09/17/2013
Banks Face Fines for Benchmark Safeguard Breaches in EU Plan
Banks risk fines as high as 10 percent of their yearly sales for failing to set up adequate safeguards to combat benchmark rigging
09/17/2013
U.K. FCA Probing Two Firms Over Life Insurance Sales Violations
U.K. FCA Probing Two Firms Over Life Insurance Sales Violations By Suzi Ring - Sep 18, 2013 3:40 AM PT Facebook Share Tweet LinkedIn Google +1 0 Comments Print QUEUE Q The U.K.’s markets regulator is investigating