03/30/2018
HSBC Will Pay $100 Million to Settle Libor-Rigging Lawsuit
Investors claimed HSBC colluded with banks to reduce payments
Legal, Regulation & Compliance
03/30/2018
Central Bank fines wealth firm
However, the Central Bank said it identified failures by BCWM which has admitted to the breaches regarding necessary arrangements for opening client asset accounts.
03/30/2018
UK Privilege in Internal Investigations Remains in Flux
As UK courts reshape the landscape of privilege law in the internal investigations context, a recent decision offers guidance but not clarity.
03/29/2018
Money laundering in UK property to be probed by MPs
The Treasury Select Committee said it will investigate the scale of money laundering in Britain following claims the UK – in particular the London property market – has become the “destination of choice” to launder money.
03/29/2018
Asset managers snub UK pension fund code on fees
Franklin Templeton, Kames and HSBC among funds yet to back greater disclosure initiative
03/29/2018
Ex-UBS trader loses appeal against confiscation order that forced wife to sell family home
If it were right, the sophisticated criminal would be astute to apply the proceeds of his criminality
03/29/2018
The Treasury Committee is launches a new inquiry into economic crime
The Committee is now welcoming written evidence. Witnesses for oral evidence sessions will be announced in due course.
03/29/2018
Commentary from Cannes - Appleby
The week generated some common themes:
03/28/2018
ECB revokes licence of Estonian bank amid money laundering probe
Latvia has also moved to ban shell companies - entities often used in money laundering.
03/28/2018
UK workers face mandatory pension contribution increase
Minimum contributions will increase again from 6 April 2019, to 5% for employees and 3% for employers.
03/28/2018
Nucleus and Zero Support launch GDPR guide for advisers
GDPR to take effect on 25 May
03/28/2018
Solicitor-client privilege could be next victim of the Panama Papers | Julius Melnitzer
The trouble is that truth and accuracy are often at odds with optics.
03/28/2018
World-first property beneficial ownership register set for green light
The UK government is to publish legislation to introduce the world’s first public register of beneficial ownership register of overseas companies and other bodies that own UK property or participate in UK government procurement.
03/28/2018
Ogier advises on establishment and listing of TruFin plc on AIM
TruFin plc is the holding company of an operating group comprising three growth-focused businesses in FinTech and banking
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
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.