10/14/2016
RBS banned from managing retirement funds and plans in U.S.
An RBS representative couldn’t immediately be reached for comment.
Legal, Regulation & Compliance
10/14/2016
Legislation to criminalise failure to prevent tax evasion published
These proposals very deliberately target the most senior executives in a business.
10/14/2016
Four KPMG partners arrested in HMRC probe
KPMG is one of the Big Four audit, tax and advisory firms.
10/14/2016
FCA takes London Whale identification case to Supreme Court
The bank was fined $1.0 billion by U.S. and UK regulators for management failings.
10/14/2016
The new LGPS Management and Investment of Funds Regulations 2016
This update provides a summary of the key changes introduced by the new regulations.
10/14/2016
Government action plan for anti-money laundering and counter-terrorist finance
The Government has published its response to the Action Plan for anti-money laundering and counter-terrorist finance: consultation on legislative proposals, published in April 2016.
10/14/2016
BB will send team to look into Sonali Bank UK affairs
FCA has fined the bank £3.25 million and banned from accepting deposits from new customers
10/14/2016
FCA publishes thematic review of annuity sales practices
The Financial Conduct Authority (FCA) has today published the findings of its thematic review of non-advised annuity sales practices.
10/14/2016
Leading global law firm Strikes Alliance in Shanghai
This move reflects the firm's growth strategy in Asia and the importance of the region to many of the firm's global clients.
10/14/2016
Mourant Ozannes advises LSE listed LondonMetric Property
We are very pleased to have established new lending relationships with four strong institutional investors.
10/13/2016
Costly Rule Changes to Spark More M&A by Europe’s Asset Managers
The industry post the financial crisis is changing.
10/13/2016
UPDATE 2-France's Hollande criticises huge U.S. fines against corporate Europe
When the European Commission goes after Google or digital giants which do not pay the taxes they should in Europe, America takes offence
10/13/2016
Funds vow to vote against appointments to boards lacking women
Jupiter and Old Mutual to use directors’ elections to improve diversity
10/13/2016
Court battle looms over Brexit legality
Senior judges will hear claims that the government cannot trigger article 50 without parliamentary approval
10/13/2016
Anti-Brussels rhetoric puts EU cash at risk for £1.6bn scheme in Fife, say Lib Dems
One of those projects is for a wind farm of up to 75 turbines, to be sited 15km off the Fife coast.
10/13/2016
Final EU Guidelines on Information regarding Commodity Derivatives and Spot Markets
This means that transactions in commodity derivatives based on inside information relating to underlying spot transactions will be expressly prohibited.
10/13/2016
Isle of Man CAA and UK CAA reach key agreement on UK based operators of ‘M’ Registered aircraft
The letter was signed by IOM CAA Director of Civil Aviation, Simon Williams and the UK CAA Group Director for Safety & Airspace Regulation.
10/13/2016
FCA cancels payday lender’s interim permission, bans director and refuses application to conduct regulated business
The further evidence relied upon by the FCA in rejecting those applications includes WPPL’s failure to co-operate properly with the Financial Ombudsman Service
10/13/2016
FCA slaps £3.25 million fine on Sonali bank for AML failings
The FCA found that Mr Smith failed to exercise due skill, care and diligence in managing the business of the firm
10/13/2016
Deutsche Bank Fined by SEC Over Failure to Guard Research
Deutsche Bank also published an improper research report and failed to properly preserve and provide certain electronic records sought by the SEC during its investigation.