08/15/2014
Career Clinic: The unwritten rules of unwritten bonuses
It used to be said that “my word is my bond” was the mechanism by which the City of London operated.
Legal, Regulation & Compliance
08/14/2014
Mark McSherry: Asset managers rail against moves for closer scrutiny
Many of them were asleep at the wheel last time so they want to be wide awake to any potential problems when the next financial crisis starts to rear its ugly head.
08/14/2014
EU Clears Abanka Bailout, Merger with Banka Celje
The Finance Ministry said this would allow the government to complete the bank resolution measures started in December 2013
08/14/2014
UK government can sue French bank over 'mis-selling' to Northern Rock
Societe Generale allegedly mis-sold financial products to Northern Rock that were partly to blame for UK bank's collapse
08/14/2014
Barclays could face extra £1.2bn in legal costs and fines
British bank has already set aside more than £1.2bn to cover the cost of mis-selling payment protection insurance and other “legacy” matters
08/14/2014
Stone King doubles its Cambridge office in response to client demand
The appointments have been made as the firm’s reputation for providing tailored support in specialist areas of the law has expanded outside of its well-established portfolio of clients and across the region.
08/14/2014
FCA says firms must do more to ensure financial promotions do not mislead
The Financial Conduct Authority (FCA) has found that some promotions for financial products are still falling short of its rules and firms need to do more to ensure that advertisements do not mislead consumers.
08/14/2014
FSCS declares 28 advisory firms in default
London-based Morgans Independent Advisers was also previously put into liquidation in 2009
08/14/2014
IFRS ‘disconnected’ from true and fair, investors claim
The group, which has been urging the government to clarify the consistency between IFRS and company law since 2012, claimed that as long as IFRS does not require companies to disclose underlying capital reserves
08/14/2014
Pension schemes face levy to fund European regulator
Barnett Waddingham consulting actuary Rowan Harris said it was likely UK occupational schemes would face a levy
08/14/2014
Barclays turns to Sullivan & Cromwell as litigation bill set to rise by £1.2bn
New York Attorney General Eric Schneiderman brought the case against the bank in June, alleging that the bank’s private stock market purported to offer better protection to customers than it did.
08/13/2014
F1 Probe No Trigger to Punish $890 Billion Fund, Norway Says
Finance Minister Siv Jensen said yesterday in an interview at her office in Oslo. “Governing of the bank and of the fund has served us very well.”
08/13/2014
London-based wealth advice firm launches new Latin American venture
He has over 20 years’ experience in the high and ultra-high net worth advisory space.
08/13/2014
ESMA Publishes Guidelines on Reporting Obligations Under the AIFMD
The Guidelines clarify the specific information that AIFMs must report to applicable NCAs
08/12/2014
Cyprus: FBME Cards lays off staff
The company was formed in 2002 to compete in the Cyprus and European markets
08/12/2014
FCA has underestimated Sipp exits from cap ad, says Dentons
Dentons sales and marketing director David Fox said the regulator had underestimated the number of firms which would sell or close.
08/12/2014
German prosecutors seek charges against Deutsche Bank co-CEO in Kirch case-sources
The decision to pursue charges, while widely expected, is a serious blow to Fitschen and Germany's largest bank, which faces an array of legal problems, including investigations into possible manipulation of benchmark interest rates and foreign excha
08/11/2014
ECB struggling to process banks' stress-test data
ECB now wants banks to resubmit the data in a template format
08/11/2014
Hedge funds may sue Portugal bank regulator
Among the largest investors who incurred losses in the bonds are EJF Capital
08/11/2014
Scottish law firm joins forces with private client specialist
At the moment it provides a range of specialist services including wills and succession, asset protection, wealth management and personal taxation.