08/26/2013
Ex-JPMorgan executive released after arrest in Spain
U.S. prosecutors brought criminal charges against him last month in relation to a trading scandal that cost JPMorgan $6.2 billi
Legal, Regulation & Compliance
08/25/2013
Merkel Says G20 Needs to Push Harder to Control Hedge Fund Risks
It’s not enough to regulate just banks but not hedge funds and shadow banks and I’ll fight for that
08/24/2013
RBS sell-off Delays Run Risk of Fine From Brussels
Delays in the sale of 315 Royal Bank of Scotland branches could prompt Brussels to hit Britain with a hefty fine.
08/24/2013
DIFC looks to Europe for bigger fund role
The DFSA negotiated the agreements with the European Securities and Markets Authority
08/22/2013
Polish regulator may derail Rabobank plans to sell BGZ -sources
The Polish regulator may block the deal as it would not want another well-capitalised bank after Nordea to leave Poland
08/21/2013
Macfarlanes private client partner returns to firm after four years away
He joins from Russell-Cooke where he has been a partner since 2009, having previously trained at Macfarlanes, qualifying in 2002.
08/21/2013
British lenders storm ahead of overseas rivals on transparency
UK Banks are more open and transparent than their foreign counterparts in almost all key areas of financial reporting
08/21/2013
FCA agrees £1.3bn compensation scheme for protection mis-selling
The Financial Conduct Authority (FCA) has reached an agreement with Card Protection Plan Limited (CPP) and 13 high street banks and credit card issuers that will pave the way for redress to be paid to customers who were mis-sold CPP’s Card Protectio
08/21/2013
Investigation shows Bloomberg used private client data
While the hard-hitting investigation concludes privately owned Bloomberg has ‘appropriate client data policies and controls in place’, it has recommended a raft of changes.
08/21/2013
EU Commission clears amended NordLB overhaul plan
NordLB's original overhaul approved by the European Commission in July last year included a dividend ban from 2012 to 2013 and a coupon ban. The public-sector bank, which received 3.3 billion euros of state aid, later amended the terms.
08/19/2013
BLP global private equity head leaves for Jones Day
McKeeve has spent four years at BLP after joining as private equity head in 2009, just a year after leaving Kirkland & Ellis in 2008, during which time he worked as an investment professional for property tycoon Robert Tchenguiz.
08/18/2013
More investment in data governance needed in asset and wealth management - Study
More investment in data governance is needed in companies specialising in asset and wealth management
08/18/2013
Crowdfunding to be put under the microscope by City watchdog
“We want it to be clear that investors in the majority of crowdfunds have little or no protection if the business or project fails,”an FCA spokesman said.
08/18/2013
DFMs criticised for not submitting performance data
Aj Somal, certified financial planner at Aurora Financial Planning, said some discretionary managers were shown “in a bad light” by not submitting comparative performance data.
08/18/2013
KPMG publishes AIFMD overview
The Directive is going to have a significant impact on AIFMs’ EU strategy
08/17/2013
HMRC Change QROPS Reporting System
There was industry concern that any changes brought in would adversely affect the industry
08/15/2013
FCA writes to 11 groups as it launches fund charge probe
The FCA will look at what the charges are; how they are broken down and overseen; alongside the information that is provided to end-investors.
08/15/2013
Porche Faces New Hedge Fund Cartel Claim In Legal Battle
Porsche SE faces a new legal maneuver from hedge funds seeking to recoup billions of euros they say they lost
08/14/2013
AQR and Stress Test Requirements to Pose Challenges for European Banks - Moody’s
Moody's Analytics has released two reports outlining the challenges associated with the upcoming Asset Quality Review (AQR) and subsequent stress test requirements for European financial institutions.
08/13/2013
Chartis Report Outlines Financial Organizations’ Top Global Compliance, Risk and Business Performance Challenges
Capital adequacy, stress testing & internal risk models among top regulatory pressures; Report says flexible technology key to addressing evolving requirements