07/24/2014
rathbones Statement Re Settle Of Legal Proceedings
The settlement is expected to become unconditional before the end of October 2014. A further announcement will be made once the settlement has taken place.
07/24/2014
The firms failed to ensure that their ARs and individual advisers were adequately supervised and controlled to minimise the risk of mis-selling and the provision of unsuitable advice to consumers.
07/24/2014
The European Commission and the European Parliament agreed on the updated Markets in Financial Instruments Directive (MiFID 2) and on the Markets in Financial Instruments Regulation (MiFIR) on 15 April 2014.
07/24/2014
Allen’s new role will see him focus on business development, recruitment and Ropes’ European strategy.
07/23/2014
FCA fines ex-JPM Cazenove chairman £450k for market abuse
The regulator sought to fine Hannam £450,000 in April 2012 after it judged he disclosed inside information in two emails sent in September and October 2008 to a prospective client.
07/23/2014
An examination by the Federal Reserve Bank of New York found that Deutsche Bank AG 's giant U.S. operations suffer from a litany of serious financial-reporting problems that the lender has known about for years but not fixed
07/23/2014
Following the processing of the 215 requests for authorisation, 151 entities have been approved as AIFM by the CSSF as at 22 July 2014. Among these 151 approved entities, 74 entities are on the official list of authorised AIFMs.
07/23/2014
Property in Cyprus, cars and Coutts bank accounts - men behind Norfolk fraud ordered to pay back £9m assets or face more jail time
Mark Fenhalls, prosecuting, said Esmene had £7.1m tied up in property across Europe and in Coutts bank accounts, while Yorkshire had £1.2m including property, cars and almost £500,000 of hidden assets.
07/22/2014
A number of European countries have not implemented the AIFMD to date or not implemented it completely. AIMA said this is hindering managers’ ability to do business and means that investors in certain countries may be prevented from accessing altern
07/22/2014
A powerful umbrella body for global regulators has criticised the administrators of Libor and two other interbank lending rates for failing to show that they have improved the reliability and accuracy of such benchmarks.
07/22/2014
Eversheds partner Jeremy Irving has commented on news that the Financial Conduct Authority (FCA) is launching an investigation into insurance price comparison websites.
07/21/2014
Serious Fraud Office set to launch criminal probe into forex rigging
The SFO is expected to announce a criminal inquiry into traders' alleged manipulation of the £3 trillion-a-day currency markets as early as this week.
07/21/2014
German savings bank group warns of price bubbles: Report
The head of Germany's Sparkassen savings banks association fears that the European Central Bank's expansive monetary policy stance could create price bubbles, he told a German paper, without specifying which markets were causing him concern.
07/21/2014
EU banks beat bonus cap with cash allowances
The European Banking Authority has already signalled a crackdown on such “role-based allowances” for senior staff as the watchdog fears they could fall foul of EU limits on bonuses.
07/21/2014
Some alternatives firms not covered as AIFMD goes live
A range of private equity firms and hedge funds have yet to receive authorisation to operate under the European Union’s Alternative Investment Fund Managers Directive despite the fact it comes in to force this week.
07/21/2014
Why free bank accounts will have to go to spur competition in banking
The Competition and Markets Authority is consulting on its provisional decision to launch a formal investigation into UK banks. In other words, the CMA wants to increase competition in banking to better meet the needs of consumers.
07/21/2014
Naomi Campbell ex switches from Sidley to HSF for billionaire hotel battle
Naomi Campbell’s oligarch ex Vladislav Doronin has dropped Sidley Austin for Herbert Smith Freehills for the latest round of his High Court battle with his business partners.
07/21/2014
Britain to detail pensions overhaul with tax, annuity reforms
Osborne is keen to give people more freedom to tap into the cash they set aside during their working life by scrapping tax penalties imposed on those who want to withdraw their savings in a lump sum.
07/21/2014
Jersey Finance welcomes new charities law
New legislation approved by Jersey’s government will help confirm the jurisdiction as a leading, mature and flexible centre for global philanthropic work, according to Jersey Finance.
07/21/2014
BNP case spurs calls for whistleblower incentives in banking
The U.S. Securities and Exchange Commission has scored big enforcement successes and delivered millions of dollars in awards to whistleblowers under a programme from the 2010 Dodd-Frank overhaul of Wall Street.