04/09/2012
German Tax Office in Talks to Buy Swiss Bank Data, Spiegel Says
One of the sets of data is information from the Zurich Coutts Bank, a unit of the Royal Bank of Scotland Group Plc, the German magazine reported.
Legal, Regulation & Compliance
04/09/2012
Germany Outraged over Swiss Arrest Warrants
The move has gone down well in Switzerland, where politicians have praised the country's assertiveness. But it is unclear how the Swiss authorities will proceed -- the main witness is dead.
04/09/2012
FSA probes swap-sale targeting
The City regulator is examining whether “aggressive sales targets” influenced the type of interest rate hedging products sold by banks to small companies as part of its review of swaps selling following an investigation by The Sunday Telegraph
04/09/2012
Dechert Opens Office in Kazakhstan
Dechert has opened an office in Almaty, Kazakhstan, with the hire of Chadbourne & Parke's attorneys there.
04/05/2012
High roller famous for Dubai Champagne tab arrested
Alex Hope, the foreign exchange trader who hit the headlines after reports claimed he spent £200,000 in one night on a bar bill, has been arrested on suspicion of unauthorised trading.
04/05/2012
Blame-game tactics applied over AIFMD
European Commission ignores advice and points the finger, says administrator
04/04/2012
Shearman senior partner quits firm to head up Citi's legal team
Weerasinghe replaces the US investment bank's general counsel Michael Helfer, who is taking on the new role of vice chairman after nine years in the GC position.
04/04/2012
Aegon, Standard Life to pay redress over Sipp transfers
Although the ombudsman said Standard Life was responsible for the error, Mr Hearn’s advisers were given enough information to realise it had happened and therefore could reasonably have mitigated any loss, according to the determination.
04/04/2012
EU to open investigation into sale of Dexia bank in Luxembourg
Last October, the governments of France, Belgium and Luxembourg reached agreement on the dismantling of Dexia.
04/04/2012
SEC hits Pentagon with biggest fine on foreign group
The hedge fund of a Conservative Party donor has been fined $98 million for market abuse.
04/03/2012
Hedge fund fury at Brussels directive
The row has been triggered by the circulation of a 110-page EC draft text of "supplementing rules" aimed at enforcing the directive.
04/03/2012
FSA cracks whip at dawn for enforcement
Steven Francis, regulatory partner at RPC, said the high number of dawn raids is evidence of the FSA’s increased focus on more conspicuous and heavy-handed enforcement exercises since the start of the credit crunch.
04/03/2012
RSM Tenon and PwC in legal battle over flawed accounts
According to The Times Tenon has called in lawyers who have raised ‘serious concerns’ about the quality of PwC’s audit, and advised the management team that they may have a claim against their fellow accountants.
04/03/2012
Merkel to Forge Ahead on Tax Treaty as Switzerland Seeks Arrests
“We have a situation in which two neighboring states, Germany and Switzerland, have a differing legal assessment of the same development,” Seibert told reporters. “For situations like this one, a treaty would establish legal certainty.&r
04/03/2012
Top JP Morgan banker resigns over £450000 fine for market abuse
The FSA believes that the size of the proposed fine reflects the serious nature of the market abuse and should act as a deterrent to other market participants.
04/02/2012
Italy's Lombardy settles UBS derivatives dispute
No financial details were given as the parties cannot disclose details until the contract is signed.
04/02/2012
Alan and Gina Miller - the husband and wife team shaking up the investment industry
Multi-millionaire Alan Miller, the original 'Mr Hedge Fund’, and his wife believe the investment industry is failing clients.
04/02/2012
SJ Berwin fills Angel's non-exec role with ex-UBS banker
He joins the firm in the position previously held by former Linklaters managing partner Angel, who quit the City firm last year to join DLA Piper as senior partner
04/02/2012
Burges Salmon promotes seven to partner in biggest-ever round
Burges Salmon has announced the largest round of partner promotions in its history, with seven associates joining the ranks on 1 May.
03/30/2012
Banks Hold $1 Billion in MF Global U.K. Cash, KPMG Says
The figures relate to unsegregated client accounts, which MF Global was allowed to mix with its own funds and which have proved difficult for the administrators to recover.