12/24/2014
Russian Banks, RBS Bonus Suspension, Dark Pools: Compliance
The central bank this week put National Bank Trust, Russia’s 15th biggest by retail deposits, under the control of the Deposit Insurance Agency.
Legal, Regulation & Compliance
12/24/2014
The Vatican Bank, Christmas Cheer, And FATCA
For Centuries the Inner Workings of the Vatican Bank have been Cloaked in Secrecy
12/23/2014
FCA warns of unauthorised wealth manager
The Financial Conduct Authority has warned of a scammer pretending to be an authorised wealth manager and targeting investors in the UK.
12/23/2014
Think-tanks propose EU regulation opt-out for fund managers
Two think-tanks are proposing that fund managers in London who do business outside the European Union should be able to negotiate an exemption from European regulation, illustrating the growing Euroscepticism among the UK’s fund management community
12/22/2014
Swiss Bankers in Limbo After U.S. Jury Acquits Ex-UBS Executive
The courtroom victory of the only Swiss banker to beat the U.S. in a trial over offshore tax evasion may embolden other indicted financial workers to leave a legal limbo some have occupied more than five years.
12/22/2014
Barclays accountants PwC under investigation for bank's failure to protect £16.5bn in client assets
The FRC said in a statement that the investigation follows the Financial Conduct Authority's £38m (€48m, $59m) fine on Barclays Bank for failing to properly protect client assets worth £16.5bn.
12/22/2014
Top bankers need to take cyber threat seriously - BoE
Top British bankers and other senior executives in the financial services industry are not taking the risk of cyber attacks seriously enough
12/22/2014
Fred the Shred ordered to reveal £12bn RBS rights issue emails
Goodwin will have to trawl through hundreds of text messages and emails by order of the court, ahead of a court case against him and other RBS bosses due to take place in 2016
12/22/2014
Russia to bail out Trust Bank with up to $530 million
The central bank also said its Deposit Insurance Agency, responsible for managing crisis-hit lenders, would take over interim supervision of Trust Bank as of Monday.
12/21/2014
Swiss National Bank adopts negative interest rate
Switzerland is introducing a negative interest rate on deposits held by lenders at its central bank, moving to hold down the value of the Swiss franc amid turmoil in global currency markets and expectations that deflation is at hand.
12/21/2014
Gold rises on Swiss central bank's move
Gold prices edged higher Thursday after Switzerland's central bank said it would introduce negative interest rates next year and as traders continued to adjust their outlook on US monetary policy.
12/21/2014
Ulster Bank cleared of trying to put viable SMEs out of business
The 75-page report by Irish law firm Mason Hayes & Curran, which was commissioned by Ulster Bank, found that “on the contrary”, the evidence suggests that its “driving policy” was to manage its indebted commercial customers thr
12/20/2014
Banks to shun ECB easy money as regulation bites
LONDON: Banks are likely to increase their bond market borrowing in 2015 despite heavy intervention from the European Central Bank, especially as they start to focus on new regulatory requirements aimed at buttressing their balance sheets
12/20/2014
City watchdog: Take forex rigging fines out of bonuses
Financial Conduct Authority puts pressure on banks to make sure bonus pools reflect currency manipulation fines
12/20/2014
QE addiction has made us too complacent
If and when enthusiasm for extreme monetary policy as the cure for all ills dries up, we don’t have many options left
12/20/2014
German bank sues Ecclestone for 345m euros: report
The Bavarian state bank, who were unavailable for comment on Friday, accuses the British billionaire of bribing one of its executives to influence the 2006 sale of Formula One's rights.
12/19/2014
Austria sues German state bank for 3.5b euros
[VIENNA] A long-running legal tussle between Austria and Bavaria took a new twist Friday as Vienna sued the southern German region's state bank for 3.5 billion euros (S$5.6 billion).
12/19/2014
Russia's Largest Bank Warns Of A 'Full-Scale Banking Crisis'
Evgeny Gavrilenkov, the chief economist at the investment banking arm of Russia's largest lender Sberbank CIB, has warned that actions taken by the Russian authorities to bail out Russia's troubled banking sector could cause a "full-scale b
12/19/2014
Connaught Asset Management directors banned for 16 years
Two directors of Connaught Asset Management have been disqualified as directors for a combined 16 years for allowing the misuse of up to £106 million in investment funds after an investigation by the Insolvency Service.
12/19/2014
British police arrest ex-RBS trader in currency probe-FT
A City of London police spokeswoman declined to comment on the identity of the individual or whether they had been released on bail after questioning, saying only it was an SFO-led investigation.