10/31/2014
Saudi Sheikh launches $10bn lawsuit against Barclays over banking licence fraud
Claims Barclays 'hatched a fraudulent' scheme
Legal, Regulation & Compliance
10/31/2014
Lloyds Banking Group appoints new retail GC
He had been working closely with Morgan on the asset finance side of Project Canberra - the bank’s decision to outsource its retail and asset finance litigation teams to a panel firm (29 July 2013 ).
10/31/2014
Banker stole £5m from parishioners to fund gambling habit and told one victim: God said I should call you
The married father of three, a former magistrate, has now been jailed for six years
10/31/2014
IFLR ranks Ogier as a top-tier firm for funds and corporate and finance in Guernsey
IFLR highlighted the firm’s stand-out deals for Guernsey as acting for Sherborne Investors Management in relation to the establishment of Sherborne Investors and its listing on the London AIM market, and advising EFG International on its CHF180m not
10/31/2014
Cybercrime genius jailed after £6.3m theft from RBS
Estonian hacker Sergei Tsurikov, 30, was extradited from the capital, Tallinn, to Atlanta, Georgia accused of leading a gang that used corrupted ATM cards to rake in a fortune.
10/31/2014
Charity commission compliance case: conflicts, restricted funds and SORP by Chris Priestley, Withers
The Charity Commission spells out the importance of managing conflicts of interest, identifying restricted funds and filing SORP compliant accounts in an Operational Compliance Report.
10/31/2014
UK prepares ground for advance succession planning
Intention is not to let companies flounder by sudden top management exits
10/31/2014
LSK’s Assya Unit Wins Payment Protection Bid at Court
LSK & Partners, Assya Asset Management and Thierry Leyne were ordered on Oct. 3 by a Luxembourg judge to pay 2 million euros
10/30/2014
EU needs to consider retail market consumers
Ms Field also appealed for a period of calm, adding: “After five years of implementing transformative pieces of legislation post-crash, we need to have a cumulative impact assessment of their effects and an audit of whether all member states are app
10/30/2014
Barclays sets aside £500m for currency rigging fine
Bank is first from UK to set aside funds for foreign exchange settlements, as it reports 5pc rise in profits and earmarks extra £170m for PPI costs
10/30/2014
U.K. Banks Bracing for Tougher Leverage Ratio Than Europe
U.K. banks are bracing themselves for tougher debt-financing limits than their European competitors as executives warn that higher leverage ratios will lead to more expensive loans for homeowners.
10/29/2014
SFO charges ex-Tullett Prebon trader over Libor manipulation
This brings to thirteen the number of people facing charges in respect of LIBOR.
10/29/2014
Innovation: The regulatory opportunity by Martin Wheatley, Chief Executive of the FCA
I am giving an update today on Project Innovate, an FCA initiative to foster innovation in financial services. Today marks a key milestone.
10/29/2014
FCA proposes restricting sales of mutual society shares
The Financial Conduct Authority (FCA) is proposing to place new requirements that would apply when mutual society shares are sold to ordinary retail investors.
10/28/2014
AIFMD reporting solutions abound
Under the directive, fund managers have to file an Annex IV report detailing information such as exposures and concentrations, leverage, borrowing and risks.
10/28/2014
MAS calls for transparency as providers look to roll out retirement-focused funds
The Money Advice Service has urged providers to make funds more transparent as they prepare to roll out new retirement-focused products following pension reforms.
10/28/2014
IFAs will not be ready for sunset clause: Investec
Advisers also did not appreciate that from 31 December this year trail cannot be taken automatically on top-ups to existing arrangements
10/28/2014
Former governor of Central Bank of Cyprus jailed for tax evasion
He was the first senior official to be sent to prison on charges involving financial crimes following the near-collapse of the Cypriot economy in early 2013.
10/28/2014
March of the regulators will destroy banking innovation
Greedy, flashy, obnoxious and, when it all goes wrong, dangerous.
10/28/2014
European Central Bank Stress-Test Results
The comprehensive assessment found a capital shortfall of €25 billion at 25 banks.