12/27/2012
Porsche wins dismissal of $1bn hedge fund lawsuit
Porsche has won the dismissal of a lawsuit by 26 hedge funds that accused the German car maker of causing more than $1bn of losses by cornering the market in Volkswagen shares.
Legal, Regulation & Compliance
12/27/2012
Greek prosecutors comb through Swiss bank account list
Given to Greece for a second time by French authorities on December 21, the list contains hundreds of names of Greek account holders at global bank HSBC in Switzerland, which authorities want to investigate over suspected tax evasion.
12/23/2012
Interdealer brokers come under spotlight in Libor investigation
Interdealer brokers, the financial institutions that act as go betweens in transactions between major investment banks, could be the next companies to face regulatory scrutiny over Libor manipulation, according to experts.
12/23/2012
Libor accused Tom Hayes moved shares into wife's name
Tom Hayes, the British former UBS trader charged in the US with rate-rigging, made arrangements to transfer £50,000-worth of shares in a tech start-up into his wife’s name as the Libor allegations emerged, it can be revealed.
12/23/2012
The Depository Trust & Clearing Corporation
The budget minister is at risk of losing his portfolio in an imminent shake-up, newspapers Le Parisien and Le Journal du Dimanche both reported on Sunday, citing unidentified government sources.
12/22/2012
RBS Wins Interest-Rate Swap Misselling Case - FT
The High Court on Friday dismissed the claim by Lancashire hotelier Paul Rowley
12/20/2012
FSA bans and fines ex-Gracechurch chief
He has been fined £450,000 for pressure selling small company shares to investors.
12/19/2012
BNP Paribas Securities Services unveils FATCA service for asset managers
Under FATCA, non-US financial institutions will be required to report information about financial accounts held by US taxpayers, or held by foreign entities in which US taxpayers hold a substantial ownership interest.
12/19/2012
Ex-Credit Suisse Trader Sues Bank Saying Job Made Him Depressed
Bankers suing their former employers have had a run of legal defeats in London since more than 100 Dresdner Kleinwort workers successfully sued Commerzbank AG for their bonuses in May.
12/19/2012
Aviva insurance firms fined €2.45m over breaches
The Central Bank's Insurance Directorate conducted a survey into the use of liquidity swaps among high and medium high impact insurance undertakings.
12/19/2012
Major banks convicted in Milan fraud case
Deutsche Bank and three other lenders fined, nine bankers found guilty
12/19/2012
Banker 'sacked for being too successful’ could be in line for £11 million payout
A banker who claimed that he was dismissed for being “too successful” could be awarded an £11 million payout after winning a five-year battle against his former employer.
12/19/2012
Hollande unveils softened French bank reform
France unveiled a long-awaited bank reform, hailing it as a model for the rest of Europe even as critics said it fell short of President Francois Hollande's campaign pledge to get tough with the financial sector.
12/19/2012
Lloyds and Bank of Scotland suspend packaged account sales
Lloyds TSB and Bank of Scotland have suspended telephone and branch sales of packaged bank accounts from next year, according to the Financial Times.
12/18/2012
Allen & Overy ranked an international superstar
Global Competition Review has again included Allen & Overy in the "Global Elite" of 2013
12/18/2012
Allen & Overy named "Benelux Law Firm of the Year"
The Financial Times Mergermarket M&A Awards are unique in utilising both M&A transaction data from mergermarket.com and independent expert opinion from a panel of leading M&A practitioners to identify the winners.
12/18/2012
UBS fined £940m for rigging Libor, fraud and paying bribes
UBS Board of Directors authorizes settlements of LIBOR-related claims with US and UK authorities; Swiss regulator to issue order
12/18/2012
Hollande to unveil softened French bank reform
The overhaul, to be announced on Wednesday, will ultimately hit only a sliver of banks' profit, according to a leaked draft of the bill.
12/18/2012
New director at Taylor Wessing prompts reshuffle
He will take on one of the firm’s three business group director roles, replacing Rodney Dukes.
12/18/2012
Squire Sanders turns to BLP and Wragges for City banking hires
Squire Sanders is expanding the reach of its Financial Services Practice Group with the lateral hires of two highly-respected partners