03/18/2015
Piech, Porsche Family on Witness List in Hedge-Fund Lawsuit
The men all served on the Porsche supervisory board in 2008 when the company tried unsuccessfully to take over its then-rival VW.
Legal, Regulation & Compliance
03/18/2015
FCA bans former Rabobank trader
This is the FCA’s first public action against a trader for manipulating LIBOR submissions, and follows recent fines and bans for two senior executives for LIBOR compliance failures.
03/18/2015
BoE calls for UK asset manager stress tests
The test would aim to determine if asset managers have put aside enough capital to mitigate against any possible risk.
03/18/2015
New rules for OTC derivatives delayed for 9 months
The delay was announced on Wednesday by the Basel Committee, part of the Bank for International Settlements, and the International Organisation of Securities Commissions, an umbrella organisation for central banks.
03/17/2015
Banco Madrid files for bankruptcy as money laundering scandal swirls
The US accused its Andorran parent of laundering money for organised crime groups
03/17/2015
FCA confirms approach to improving responsibility and accountability in the banking sector
Sets out how the FCA will implement the Senior Managers Regime
03/17/2015
Nothing to fear from high standards by Martin Wheatley
Speech by Martin Wheatley, Chief Executive of the FCA, delivered at Bloomberg. This is the text of the speech as drafted, which may differ from the delivered version.
03/17/2015
Due Diligence and Shift in Focus - forecasts TCC
As the waiting game begins for the FCA’s new business plan, Jason Wintie, director of compliance at The Consulting Consortium, predicts a shift in focus from the regulator:
03/17/2015
Rathbone boss calls for new rules to stem fund inflows
Mr Webb said Ratbone was not “anywhere near capacity” across its two main funds
03/16/2015
FCA confirms approach for financial promotions in social media
The FCA recognises that social media are powerful channels of communication
03/16/2015
Pope Francis' Financial Reforms Rattle Vatican's Old Guard
When the College of Cardinals elected the new head of the Roman Catholic Church two years ago, Pope Francis was given the mandate to put the Vatican's dysfunctional administration in order.
03/16/2015
Ogier shortlisted as Law Firm of the Year, EMEA
2014 was a significant year for Ogier and its Private Client and Trusts practice when it repositioned itself as an independent law firm after the management buy-out of Ogier Fiduciary Services
03/16/2015
Ogier is leading offshore adviser to European IPOs
The firm, which has offices in Jersey, Guernsey, Luxembourg, Cayman Islands, BVI and Hong Kong, was ranked 12th in the previous year.
03/16/2015
Cyprus becomes "Equivalent Jurisdiction" under Cayman Money Laundering Regulations
On 21 November 2014 the Cayman Islands gazetted an amendment to the Money Laundering Regulations (Regulations) to include Cyprus in the Third Schedule to the Regulations which lists countries and territories with equivalent legislation for anti-money laun
03/16/2015
FSCS to review claims over property funds hit by SFO probe
The Financial Services Compensation Scheme has started to process claims against advisers in relation to three Stirling Mortimer funds which make up the Stirling Mortimer Global Property Fund.
03/16/2015
Spanish Bank Seeks Creditor Protection After Withdrawals
Banco de Madrid SA stopped operations and is seeking protection from creditors after the U.S. accused its parent, Banca Privada d’Andorra, of money laundering.
03/16/2015
Hume Capital Securities suspends trading as funding fails
The company’s board had appointed insolvency practitioners Leonard Curtis and legal advisors DWF to look at its business model but has now appointed administrators to assess its position going forward.
03/15/2015
'Remuneration requirements for banks – a global comparative analysis' - Norton Rose Fulbright
This guide is the third in a series that Norton Rose Fulbright has produced on structural banking reform
03/13/2015
Regulator scraps plans for list of AE providers
The Pensions Regulator’s anti-competitive stance will limit choice for smaller employers
03/13/2015
Commerzbank of Germany to Pay $1.5 Billion in U.S. Case
Collectively, the investigations were a magnet for federal and state authorities