11/25/2019
Ten Arrested in London for Hauling Millions in Suitcases into UAE
The United Arab Emirates has increasingly come under scrutiny for its role in laundering money for criminals.
Legal, Regulation & Compliance
11/25/2019
IFA Nick King jailed for nicking £600k from own family
A Derbyshire-based financial adviser has been jailed for over six years after being found guilty of stealing more than £600,000 from his own family.
11/25/2019
London broker pleads guilty to conspiring to evade FATCA
FATCA demands foreign financial institutions must make an annual report to the IRS that disclose the details of any accounts controlled by US taxpayers.
11/24/2019
FSB publishes 2019 G-SIB list
BCBS today published updated denominators used to calculate banks’ scores and the values of the underlying twelve indicators for each bank in the assessment sample.
11/22/2019
MEP Casa calls on UAE to fully cooperate on 17 Black
'Clear that 17 Black case is connected to murder'
11/22/2019
EBA publishes its roadmap on the risk reduction measures package
These mandates are mainly focused in the areas of governance and remuneration, large exposures, resolution as well as reporting and disclosure.
11/22/2019
Castle Trust warns brokers to beware after fraudsters clone lender
Castle Trust is warning brokers to be extra vigilant after the lender was cloned by fraudsters.
11/22/2019
City faces up to ‘dirty money’ through suspicious activity reports
A classic example of this is a modern slavery story that was featured in this month’s edition of SARs in Action, the UKFIU’s e-magazine .
11/22/2019
Walkers' Guernsey Fund Finance Team Advise On £20 Million Facility
Walkers continues to expand its Guernsey investment funds and finance teams
11/22/2019
ICO seeks direct powers under proceeds of crime law
The UK's data protection authority is seeking new powers to prevent criminals from profiting from data-related crime.
11/22/2019
Vatican officials: Swiss bank suspected of money laundering led to Pell conflict
"Sometimes the Church must be able to help without being seen to be helping.”
11/22/2019
WFW associates dismayed by treatment of partner who 'smacked bums' and 'rubbed PAs'
The partner, whom RollOnFriday is not naming and will call 'Frotto', is alleged to have bullied junior male lawyers and been inappropriate with female staff.
11/22/2019
ABN Amro failed to screen 5 million customers after 2010 Fortis merger: report
The Public Prosecution Service is scrutinizing the bank on the suspicion that ABN Amro did not report suspicious transactions on time or at all.
11/22/2019
FCA: firms must work towards 2021 LIBOR transition deadline
The key message from the FCA is that LIBOR transition is as much a governance and compliance issue as it is a legal one.
11/22/2019
CJEU rules German WHT on dividends to nonresident pension funds violates EU law
The fund requested a refund of the 15% tax withheld, but this was refused by the German tax authorities.
11/22/2019
200,000 Brits in for a £3 billion Swiss bank share-out?
The cash is owed by Swiss financial institutions like UBS and Credit Suisse to anyone who invested money through them and did not receive the commission fees paid on the deal.
11/22/2019
Basel Committee publishes more details on global systemically important banks
The final scores are mapped to corresponding buckets, which determine the higher loss absorbency requirement for each G-SIB.
11/22/2019
RPC axes all-equity partnership
We still expect and encourage people to aspire to full equity partnership
11/21/2019
Risky business: UBS warns that tax on billionaires will kill off risk appetite
The proposed wealth taxes have prompted a number of super-wealthy figures including former Goldman Sachs boss Lloyd Blankfein and JP Morgan chief executive Jamie Dimon to publicly express their concerns.
11/21/2019
Fund giant fined £2m for rip-off fees: Henderson accused of overcharging ordinary customers while waiving fees for corporate clients
They continued to be charged an annual fee of between 0.75 per cent and 1.5 per cent – several times what they would have been in a tracker fund