02/16/2012
Closed UK hedge fund ordered to pay $76.8m
Sweet ruled that Pentagon Capital and Chester must disgorge $38.4 million in improper profits on the trades. He imposed the same amount as an additional civil penalty.
02/16/2012
Fraud agency under investigation in UK
The review will focus on how Britain's main agency for hunting down major financial crimes and corruption goes about selecting and pursuing cases, a spokeswoman for the government's legal advisor said.
02/16/2012
FSA fines ex-Merrill Lynch director £350k over Punch rights issue
“By disclosing inside information, Osborne engaged in serious market abuse. His actions undermined the orderliness and integrity of the market and the high penalty reflects the seriousness of his breach. There should be no doubt about the FSA’
02/15/2012
'Broke' HSBC worker told to repay £59 of £1million fraud
Apart from the Renault Clio, the 23-year-old’s only other ‘realisable assets’ amounted to £109.21, prosecutor David Levy told the court, which included £100 for the car.
02/15/2012
A German Pensioner Takes on Commerzbank
The bank adds that the financial advisor "weighed all the advantages and disadvantages of the investment together with the client. That particularly involved the long duration of the investment. Irmgard Greiner decided after the extensive consultatio
02/15/2012
International Awards for Luxembourg Law Firm
In addition to the challenges posed by today's economy, the Luxembourg jurisdiction has witnessed the local legal market diversify and intensify.
02/15/2012
RBS rapped over 'last bank' advert
State-backed Royal Bank of Scotland has come under fire once again - this time for making "misleading" promises to be the "last bank in town".
02/14/2012
Nicely does it as Bakers picks up top employer award
”Every idea is valuable, and I sense that this is why people feel engaged.”
02/14/2012
Towry looses case against rival wealth management firm
National IFA Towry has lost its High Court battle against rival wealth management firm Raymond James and seven former Edward Jones advisers it alleged solicited clients.
02/13/2012
The City giant's move comes as research by Legal Week found that SJ Berwin, Nabarro and Holman Fenwick Willan are also currently reviewing their policies in the wake of legislative changes which have phased out default retirement ages for U.K. employ
02/13/2012
It expects a further 2,000 FSCS claims even before MF Global’s failure is factored in.
02/13/2012
Since the financial crisis of 2007, many smaller firms not able to raise funds on capital markets have found it difficult to borrow to finance investment.
02/13/2012
Four RBS bankers arrested in HMRC tax probe
The arrests included four current employees and one former employee from the Edinburgh-based bank as well as people from two other banks.
02/13/2012
The company failed to arrange adequate protection for clients' assets when it was responsible for them, and allowed client money to be used on its own account and not that of clients, the regulator said.
02/11/2012
Barclays' bonus pool is not the only part of its results that has riled investors: the bank's accounting practices have caused controversy too.
02/11/2012
The promotions, effective from 1 February, follow shortly after the news that the firm has opened an office in Hong Kong.
02/10/2012
Individuals with money in offshore bank accounts who argue that their funds are a “gift” should collect evidence to support their claims, following the verdict in a high-profile court case this week, accountants have warned.
02/08/2012
Some 2,000 people from the UK with money invested in Liechtenstein have come forward after the tax haven was put under the spotlight.
02/08/2012
UBS Employee Tax-Evasion Probe Dropped by German Prosecutors
A four-year-old investigation that included searches of offices and private property, didn’t support allegations initially made in a television-news report, prosecutors in Mannheim said in an e-mailed statement.
02/08/2012
Aima voices hedge fund concerns over Mifid II draft
The Alternative Investment Management Association (Aima), the global trade body, has aired its first public concerns about the update of Europe’s Markets in Financial Instruments Directive (Mifid), singling out the draft’s approach to third-co