07/19/2012
The London Stock Exchange-A Haven for Laundered Conflict Assets?
"AIM's lack of transparency means there is a black hole at the heart of its regulatory system," said Tricia Feeney, RAID's Executive Director.
Legal, Regulation & Compliance
07/19/2012
SFO Drops Investigation Into Two Suspects In Kaupthing Probe
Two men arrested in the Kaupthing probe are “no longer suspects and police bail is to be canceled,” the SFO said in a statement.
07/19/2012
FSA in bid to create rivals to offer more banking choice
The government wants more choice in banking which is dominated by the “big four” lenders, HSBC, Lloyds, Barclays and Royal Bank of Scotland.
07/19/2012
Ministers at odds over tax accord "loophole"
The current situation is only temporary, according to the Swiss minister
07/19/2012
WikiLeaks circumvents financial blockade with French bank account
Widmer-Schlumpf and her German counterpart Wolfgang Schäuble disagreed over whether the authorities of WikiLeaks has begun accepting donations through a French non-profit organization, as part of an attempt to circumvent a financial blockade from maj
07/19/2012
Credit Agricole says not accused of rate manipulation
The statement was issued in response to a Financial Times report that regulators were investigating Credit Agricole, HSBC, Deutsche Bank and Societe Generale for involvement in manipulating an interest rate that plays a key role in global markets.
07/18/2012
Global Investment Management Industry Continues To Face A Regulatory Avalanche Of Disparate Rules: KPMG Report
Observers, however, are beginning to see some consistency regarding the implementation of new regulations across the globe, with the U.S. and Europe setting the bar and Asia catching up.
07/18/2012
FSA issues warning over three more cloned firms
Regulator issues more warnings about firms posing as legitimate businesses, which could be used to operate fraudulent schemes.
07/18/2012
Milan Swaps Prosecutor Seeks Ban And Fines For UBS, JPMorgan
The prosecutor today asked a Milan court to fine the banks 1.5 million euros each and asked they return their 72.5 million euros of illicit profit from the contracts.
07/18/2012
Tax avoidance: HMRC could gain billions as court rules against 'artificial' scheme
The court ruled against a scheme promoted by PricewaterhouseCoopers, the accountancy firm, used by a businessman in a bid to avoid about £11m in tax.
07/17/2012
HSBC faces £640m fine for allegedly allowing drug gangs launder millions
A top executive at the bank sensationally quit yesterday in front of a US Senate hearing that exposed the scale of the scandal.
07/17/2012
FSA bans Carlisle adviser facing Aviva winding up order
Regulator acts over firm’s failure to pay fees and levies of more than £8,000.
07/17/2012
Potential Impact of RDR Chapter 5 Regulation - Research
These rules relate to those organisations responsible for the provision of nominee services to retail investors investing in authorised funds, and demand the timely distribution of certain mutual fund information and notification of voting events to all u
07/17/2012
Clydesdale, Yorkshire banks under Financial Services Authority Review
The FSA had already completed a review with Britain's four biggest banks - Barclays, HSBC, Lloyds and Royal Bank of Scotland - after they admitted in June to inappropriate sales of interest-rate hedges to businesses.
07/17/2012
Ex-UBS France Employee Charged in Tax Inquiry After Raids
UBS is “fully cooperating with the French authorities,” according to an e-mailed statement by the Zurich-based bank.
07/16/2012
FSA Boos: Barclays' gaming culture
Andrew Bailey, head of the Prudential Business Unit at the Financial Services Authority (FSA), added that Mr Diamond's account of his and the bank's relationship with regulators was "highly selective".
07/16/2012
France Won’t Make Payroll Tax Retroactive to Jan. 1, Echos Says
Only overtime hours from Aug. 1 will be affected, the newspaper said.
07/16/2012
HSBC faces probe on money laundering claims
The multiyear probe into HSBC by the Senate permanent subcommittee on investigations is expected to reveal activities similar to those that led Wachovia Bank to reach a $160m agreement with the Department of Justice in 2010 to settle allegations that it l
07/16/2012
International legal practice adds another magic circle partner
The City partner, who led Clifford Chance’s shipping finance practice for the past five years, focuses on structured finance, leasing and restructuring within the shipping and offshore sectors as well as other asset classes.
07/15/2012
London Self-Regulatory System Proves Illusory in Libor Scandal
Governor Mervyn King’s failure then to take greater responsibility for Libor now poses a new threat to London’s drive to rival New York in the battle for a larger share of a shrinking international financial industry.