03/28/2018
UBA expands presence in London, gets licence for banking activities in UK
Following this authorization, UBA is now the only Sub-Saharan African bank to conduct banking activities in New York and London
Legal, Regulation & Compliance
03/28/2018
Oligarch’s £22m property frozen in crackdown on unexplained wealth, security minister reveals
The oligarch was served with an “unexplained wealth order”, under the new Act.
03/28/2018
Former Lloyds Banking Group boss wins £1.35m in bonus legal battle
Lloyds Banking Group was today ordered to pay its former chief executive £1.35m in shares after he won a legal battle against the company.
03/27/2018
Aberdeen Standard Investments behind Provident Financial lawsuit: source
Provident had almost 2 billion pounds ($2.8 billion) wiped off its market value last August
03/27/2018
SQN debt fund hopes to win back investors with £40m cash
Problems at two of its investments – US solar cell manufacturer Suniva, which went bankrupt; and Snoozebox, the maker of modular accommodation, which was forced into administration – further punished the shares which earlier this month slid to
03/27/2018
‘Clock is ticking’ for pay gap disclosure
Employers that fail to meet the deadline to disclose their gender pay gap could wind up in court, the Equality and Human Rights Commission has warned.
03/27/2018
Germany Seeks Tighter Facebook Controls After `Intolerable' Leak
“The promises are not enough”
03/27/2018
European Banks Add £135M1 on Market Invoice Platform
Banco BNI Europa adds £90m and Varengold Bank AG £45m to provide more funding for UK businesses annually
03/27/2018
Court orders investment scheme to repay £17m to investors
The decision comes following protracted proceedings, an appeal and an eventual trial which took place over 22 days and concluded in October 2017.
03/27/2018
FSCS opens door to Beaufort compensation
Clients of the failed discretionary fund management firm Beaufort Securities and its clearing arm, Beaufort Asset Clearing Services, may be now eligible to claim compensation, after the Financial Services Compensation Scheme declared the two firms in defa
03/27/2018
Watchdog takes action on high-risk investment bets
Esma, along with national regulators, came to the conclusion there was a "significant investor protection concern" to CFDs and binary options being freely available to retail investors.
03/27/2018
Winners of CDLS Excellence Awards 2018 announced
The winners were announced at CDLS's annual dinner on 23 March 2018, which took place at Jesus College in Cambridge and was supported by event sponsors Rathbones and Geodesys.
03/27/2018
How a Tiny Latvian Bank Became a Haven for the World’s Dirty Money
ABLV Bank allowed entities from Russia, Ukraine and North Korea to funnel illicit funds, U.S. officials say.
03/26/2018
Bankers react after call to freeze corrupt Russian funds
NEARLY two per cent of business in Jersey’s finance sector is of Russian origin and could be affected by proposed tough measures against powerful Russians accused of human rights abuses.
03/26/2018
McMafia probe into death of Scottish property tycoon amid fears Russian hitmen threw him out window
Scot Young and four of his rich pals all died between 2010 and 2014 and his ex-wife says his £1billion fortune is at root of his 'murder'.
03/26/2018
Dutch regulator offers escape route from contentious cost rules
Watchdog provides alternative to controversial investor transaction charge disclosures
03/26/2018
Forex fraudster jailed again over Rihanna tickets
A court heard that while on day release Hope opened five new bank accounts which receive more than £75,000 and was mainly withdrawn in cash or used to fund his lifestyle.
03/26/2018
Revolving doors: National firms lead the pack in spate of UK and international hires
Manchester real estate head Peter Kershaw said the appointments displayed a commitment to the real estate market and the growing local market.
03/26/2018
How Pilatus banker Ali Sadr Hasheminejad played hide-and-seek with the Americans
Ali Sadr Hasheminejad regularly travelled to the United States from Malta. But an investigation into the circumvention of Iran sanctions finally caught up with him, less than a year since his private bank was plunged into a national scandal. We trace the
03/26/2018
FCA announces changes to advice on pension transfers
The new rules include requiring transfer advice to be provided as a personal recommendation that takes account of a consumer’s individual circumstances.