12/12/2013
Iceland jails former Kaupthing bank bosses
Four former bosses from the Icelandic bank Kaupthing have been sentenced to between three and five years in prison.
Legal, Regulation & Compliance
12/11/2013
Bankers and Hedge Fund Managers: 82% Believe FCA Fails to Balance Investor Protection and Growth Promotion
Despite the low vote of confidence for the FCA, only 12% globally believed that the US' Securities and Exchange Commission had found the balance between growth and protection, with the figure the same for US respondents.
12/11/2013
FCA fines Lloyds Banking Group firms a total of £28,038,844 for serious sales incentive failings
The Financial Conduct Authority has fined Lloyds TSB Bank plc and Bank of Scotland plc, both part of Lloyds Banking Group, £28,038,844 for serious failings in their controls over sales incentive schemes.
12/11/2013
Dropping the cloak of secrecy – UK proposes to adopt public register of beneficial ownership of companies
Before the European summer in 2013, the UK government announced proposals that would require companies to obtain and hold information about their ownership and control
12/11/2013
Libor Traders Said to Face U.K. Fines as Soon as Next Month
U.K. regulators may issue the first penalties against individuals in their probe of Libor manipulation as soon as next month
12/11/2013
November’s compensation for mis-sold IRHPs hits £81.2m, reports FCA
Banks have responded to FCA calls to speed up the compensation process over mis-sold interest-rate hedging products, said Clive Adamson.
12/11/2013
RBS agrees $100m US settlement over sanction breaches
The bank was deemed to have “lacked adequate risk management and legal review policies and procedures” when dealing with dollar payments conducted outside the US.
12/11/2013
Russian banker to be extradited from Austria
He is wanted by the Russian authorities after a Russian court sentenced him to five years in jail in June 2011 for fraud.
12/10/2013
FCA to crackdown on asset management charging structures
Mr Wheatley explained the charging structures relating to investment management have sparked concerns for the regulator, which has noted a distinct lack of transparency and accountability.
12/09/2013
SandP faces European derivatives case in the Netherlands
Sixteen European institutional investors are suing rating agency Standard and Poor's, and the Royal Bank of Scotland, for $250 million over losses on so-called toxic financial products during the 2007-08 financial crisis
12/09/2013
Treatment of sovereign risk in the Basel capital framework
It is sometimes asserted that the Basel capital framework prescribes a zero risk weight for bank exposures to sovereigns.
12/09/2013
Bob Diamond in court for Libor-rigging claim
The former chief executive of Barclays is set to appear as a witness in an “exceptional” case that could open the floodgates to thousands of businesses claiming that Libor-rigging by Barclays caused them financial losses.
12/09/2013
Fund managers seek reform of outsourced services
The group also set out a series of steps for managing exits from contracts with providers in order to promote efficient transitions.
12/09/2013
Probe Into Arrested Hedge Fund Managers Ends
Three hedge fund managers arrested by British authorities in February will not face criminal charges
12/09/2013
Regulators still struggling to balance protection with growth, according to financial service firms
Overall, 49% thought that no regulator had succeeded in this respect, with a majority of respondents in the US and the UK holding this view.
12/09/2013
German bank IKB says surprised to get regulators' call
Regulators have surprised German bank IKB, one of the highest-profile casualties of the financial crisis
12/09/2013
Osborne Clarke sets up shop in Amsterdam
No head has been decided as yet but the firm is looking at hiring in Amsterdam and will model the office on its recent international openings.
12/09/2013
Pinsents Continues Paris Growth with Technology Bolt-on
Pinsent Masons is expanding its French presence with the acquisition of six-lawyer boutique Ichay & Mullenex Avocats.
12/09/2013
G & E Wealth Management targeted by scammers
York-based firm G & E Wealth Management is the latest to have been targeted by scammers impersonating the company's advisers, the Financial Conduct Authority has warned.
12/08/2013
More libor woes ahead for Barclays
The case is an unwelcome reminder of alleged Libor manipulation for the bank.