- Managers of Wealth - Europe - Wealth, private banking and asset management news and opinion

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.

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.

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.

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.

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

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.

Italy's Lombardy settles UBS derivatives dispute

No financial details were given as the parties cannot disclose details until the contract is signed.

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.

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

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.

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.

Essex Court barrister seals victory for JPMorgan in mistaken salary claim

Ciumei was instructed by Allen & Overy partner Stefan Martin to defend the claim, which was launched by Switzerland-based commodities trader Kai Herbert.

Allen & Overy welcomes 23 to its partnership

Allen & Overy today announces 23 promotions to partner across 14 offices in 12 countries. Nearly 40% of new partners are female and, for the fifth year running, the majority (73%) are based outside London, underlining Allen & Overy's commitme

JPMorgan Banker Gay Divorce From Stage Star Sets U.K. Precedent

“If this were a heterosexual marriage, and he were the female partner married to a wealthy City trader, he would have walked away with a considerably greater sum,” Matt Baldwin, a spokesman for Gallagher’s law firm Boodle Hatfield, said

FSA needs to stop barking and bite down on swaps scandal

It is time that Parliament took up the cause to help reveal the extent of the problem and win redress for customers.

FSA fines IFA £95k for mortgage fraud

The false information related to income declarations, residential and employment details and information about the purpose of the mortgage, said the FSA.

Private equity firms looking to block Lloyds Banking Group plc loan sale

The loans are to be sold at a discount to the face value of £500m.

RBS Rate Traders Sat With Libor Setter, Fired Banker Says

Tan Chi Min, let go over accusations he manipulated the London interbank offered rate, made the claims in court papers filed with the Singapore High Court on March 23.

Cybercrime threat on the rise, says PwC report

The PwC report claimed that cases, and the perceived threat from the crime, had grown in the sector globally.

CISI introduces mandatory integrity and ethics testing for members

The CISI is introducing new membership requirements for voting members in line with its commitment to champion the highest standards of ethical behaviour within financial services.

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