02/29/2016
Fund managers in talks with regulator over clarity on fees
Currently, pension fund charges are subject to both UK and EU regulatory requirements
Legal, Regulation & Compliance
02/29/2016
Richard Pease sues Henderson in £2.7m contract row
Pease, who joined Henderson following its acquisition of New Star
02/29/2016
Kirkland & Ellis suffers London mass exit as seven partners walk out in less than a week
The news comes after a six-partner team from Kirkland announced they would exit the firm to set up a City private equity team at Sidley Austin.
02/26/2016
Swiss banking giant charged with tax fraud and money laundering in Belgium
A statement from prosecutors said: "The Swiss bank is suspected of having directly, and not via its Belgian subsidiary, approached Belgian clients to convince them to set up constructions aimed at evading taxes."
02/26/2016
U.S. Sanctions Warning Tests Resolve of Foreign Banks in Russia
Royal Bank of Scotland Group Plc, Barclays Plc and Deutsche Bank AG have shuttered activities in the country.
02/25/2016
EU banking watchdog reveals 2016 stress test scenarios
The scenario implies negative growth in the EU’s gross domestic product in 2016 and 2017 of, in the worst case, minus 1.3 per cent
02/25/2016
Lloyds lawyer says 'no value left in HBOS' comment taken out of context
A lawyer for Lloyds told a pre-trial hearing that the note, written by former Lloyds board director Archie Kane on Oct. 10, 2008
02/24/2016
Court date set for Libyan sovereign fund dispute
The hearing is expected to run for four or five days, although the judgment may not come in the same week.
02/24/2016
Calastone launches Data Services - a unique global fund distribution solution
MiFID II, the European regulatory framework designed to improve the transparency and oversight of financial markets, is moving responsibility to understand the distribution chain
02/24/2016
UK Court Dismisses Attempt To Re-Open Swaps Mis-Selling Case
Banks accused of mis-selling of interest rate swaps may escape having to pay out more in redress to clients after a High Court in London on Wednesday dismissed an application to review the handling of the compensation process.
02/24/2016
Proposed master trust legislation must strike a balance
In an ideal world, the final rules will protect members against weak or fraudulent trusts
02/23/2016
Wealth manager WH Ireland takes fine, block on new clients
The FCA found that between 1 January and 19 June 2013, WHI failed to ensure it had the proper systems and controls in place to prevent market abuse being detected or occurring. WHI's failings, which amounted to a breach of Principle 3, included:
02/23/2016
Germany’s Deutsche Bank in crisis
The very fact that Cryan felt the need to make such a statement was seen as a sign of weakness.
02/23/2016
New international law firm launches
The new firm also features a strong focus on key global sectors to provide clients with in-depth experience and expertise specific to their industries, including advanced manufacturing, energy, financial services, infrastructure, life sciences, natural re
02/23/2016
KWM to leave Europe top job empty until end of the year
An ongoing divisional restructure is set to deliver big changes to the Hong Kong-based firm's practice groups in the UK and EMEA region.
02/23/2016
Asset managers risk reputation by 'sweeping market abuse regulation under the carpet'
Failing to prioritise 'critical' regulation
02/22/2016
City watchdogs investigate financial age discrimination
The FCA may for the first time create special rules to protect the interests of the elderly
02/22/2016
Barclays accused of making 346 million pounds in ‘sham’ payments to Qataris
PCP's London lawsuit, which seeks £720 million in damages plus interest and costs
02/22/2016
Extra £2bn PPI penalty dashes Lloyds dividend hopes
The provision for further payment protection insurance claims will come with Lloyds’ annual financial results, and is expected to push the lender into the red for the final quarter of 2015.
02/22/2016
HSBC’s Asia hiring practices probed by SEC
Based on the facts currently known, it is not practicable at this time for HSBC to predict the resolution of this matter, including the timing or any possible impact on HSBC, which could be significant.