10/25/2012
French Deputies Approve 2013 Tax Barrage
The Socialist Party, the radical left and the ecology party voted in favour of the “courageous” text
Legal, Regulation & Compliance
10/25/2012
Nine More Banks Under Libor Rate-Fix Scrutiny
Lloyds Banking Group and eight other major banks have received subpoenas by the US state prosecutors as part of an investigation into alleged Libor manipulation, the Wall Street Journal reported.
10/25/2012
Magic circle firm considers move Down Under
The magic circle firm has spoken to several Australian partners in recent months about potential hires as it considers whether to launch a small M&A-focused offering in the country.
10/24/2012
FSA fines two firms over £250k for transaction reporting failures
The Financial Services Authority has fined two firms
10/24/2012
Treasury to implement all Wheatley's Libor recommendations
The Treasury has promised to implement all 10 of Martin Wheatley’s recommendations on reforming the submission and administration of Libor.
10/24/2012
King & Wood Mallesons secures hire of Bakers global private equity chief
He will make the move on 6 November.
10/24/2012
FundsNetwork reignites lobbying for bundled charging
A survey of 209 advisers on the platform said their opinion was driven by clients, who found bundled charges easier to understand. They also argued bundled funds were easier to use.
10/23/2012
Investors sue ABN Amro for missing Palm Invest money
Danny Klomp and Remco Voortman were found guilty of fraud, money laundering and embezzlement in 2010.
10/23/2012
Aviva to pay 80,000 property fund investors €25m in compensation
Concerns over a massive overdraft built up by the fund has forced Aviva to question how it was run and refund policy holders.
10/23/2012
Santander to Get Merger OK for Polish Units by End-November
Spain's Banco Santander SA could receive approval by the end of November to merge two of its Polish-based units, the country's financial regulator said Tuesday.
10/23/2012
Global law firm launches cross-border listings app for Apple devices
The free app, available now on the App Store, is an interactive and robust legal tool designed to help investment bankers, CFOs, in-house counsel and other members of management as they consider global listing options.
10/22/2012
Banking regulator Andrew Bailey says 'buck stops here'
Banking and insurance regulator outlines more judgment-based, intrusive approach for new Prudential Regulation Authority
10/22/2012
Leading international law firm deepens its commitment to Africa
The Dar es Salaam office will focus on the financial institutions; energy; infrastructure, mining and commodities; and transport industry sectors in response to strong domestic demand and growing international investment.
10/22/2012
IMA supports diversity in the boardroom
Board appointments should be on merit and not to fill quotas.
10/21/2012
Former RBS director faces lawsuit threat
The action group has previously named only the former chief executive Fred Goodwin
10/21/2012
Law firms shun private equity
Private equity firms have been eyeing the legal industry since new ownership rules came into force this year.
10/18/2012
Sun Life fined £600000 by FSA for poor management
The firm's governance failings came to light following two significant transactions executed in 2008 and 2009.
10/18/2012
FSA should have halted RBS's ABN Amro deal
Parliament's cross-party Treasury Select Committee, chaired by Andrew Tyrie, also said banks needed a regulator with the self-confidence to intervene, even if that caused short-term destabilisation.
10/18/2012
FSA fines Bank of Scotland £4.2m over record-keeping flaws
As well as excluding this group, the problem was compounded when BOS incorrectly contacted 33,700 customers who should never have been included in the programme, and mistakenly made goodwill payments totalling £20.4 million to 22,700 of them.
10/18/2012
EIOPA’s QIS approach ‘not fit for purpose’, says Mercer
Not enough time has been given by the European Insurance and Occupational Pensions Authority (EIOPA) to consider the amendments needed to its approach to implementing Solvency II, to make it fit for the purpose of the IORP review, say Mercer.