10/03/2016
Tesco faces UK legal action over accounting scandal
Tesco declined to comment on the case.
Legal, Regulation & Compliance
10/02/2016
Bank of Portugal forces banks to report offshore operations in 2017
The Bank of Portugal will be responsible for issuing and updating a list of relevant offshore locations based on the information regularly provided by the banks and other institutions
09/30/2016
UBS Warns Negative Rates Could Hit More Depositors
UBS holds around 400 billion Swiss francs in cash deposits with roughly half in its wealth management business
09/30/2016
Denmark Receives Panama Papers Data to Fight Tax Dodging
The taxation authorities had received information containing legal documents, agreements, and correspondence,
09/30/2016
Revenue to receive details on thousands of offshore account
It is the first time the Revenue has had a window into what is going on offshore
09/30/2016
FCA & Cambridge University Partner to Review UK Alternative Finance
The Cambridge Centre for Alternative Finance has been the global leader in research on disruptive finance publishing multiple reports spanning the world.
09/30/2016
Brexit: 20 law firms back opinion on UK’s UPC membership
For the UK to continue to participate in the unitary patent, it would have to secure an “international agreement
09/30/2016
Brabners Announces latest round of Promotions Appointments
He undertakes commercial litigation work on a national and international basis, with an emphasis on sports and media disputes.
09/30/2016
Ex-BlackRock Fund Manager Mark Lyttleton Charged With Insider Trading
Mark Lyttleton, who previously ran a £2bn fund for the asset manager’s UK unit, has been charged with three counts of insider dealing
09/30/2016
Debevoise Advises MBIA in the Sale of its UK Subsidiary to Assured
Employment advice was provided by London associate Christopher Garrett.
09/29/2016
Eureeca Opens European Hub in Amsterdam
Eureeca is seeking to expand its services and investment offerings across Europe
09/29/2016
Some banks 'obscuring' who is accountable if things go wrong, says FCA
The FCA said that most firms provided statements of responsibilities identifying who was ultimately accountable
09/29/2016
ING could sell $300 million stake in Kotak Mahindra Bank
The lender will be declaring its second quarter results on October 25.
09/29/2016
PRA and FCA propose measures to maintain firms’ focus on culture
The FCA has marked six months since the implementation of the Senior Managers’ and Certification Regime (SM&CR) by providing feedback on implementation so far and proposing measures to further strengthen the regime (see below). The proposed rule
09/29/2016
Code of Conduct for IAPs updated
This monitoring will include seeking feedback from interested stakeholders via a new Code Consultative Group.
09/29/2016
Former BlackRock fund manager charged with insider dealing
His wife, who was also arrested in 2013, has not been charged.
09/29/2016
FCA publishes third MiFID II consultation paper
MiFID II, which comes into effect on 3 January 2018, updates and improves rules governing the way capital markets function, contributes to the reform of derivatives markets and strengthens transparency of trading. These further the aim of making financia
09/29/2016
RBS to pay $1.1 billion to resolve some of its U.S. mortgage claims
To pursue recoveries against financial firms that we maintain contributed to the corporate crisis
09/28/2016
Panmure Gordon returns to profit; cautious of further Brexit vote volatility
Panmure’s pre-tax profit reached £0.3m from a loss of £0.2m in the same period last year and a “disappointing” 2015.
09/28/2016
The FCA is making senior management responsible for the culture in their firms
Culture is not a tangible thing that can be taken down from a shelf and inspected.