06/17/2013
UK prepares charges against former UBS Libor trader
He has already been charged in the U.S., which is running a parallel criminal probe.
Legal, Regulation & Compliance
06/17/2013
U.K. Clashes With EU Over Bid to Boost Market Regulator’s Powers
The U.K. expresses concern that it is legally uncertain whether the powers granted to ESMA” are “acceptable
06/17/2013
Former UBS and Citigroup trader charged over Libor-rigging scandal
Hayes has been charged with eight counts of conspiracy to defraud for his alleged role in manipulating the price of benchmark interest rates at the heart of the banking industry.
06/17/2013
FCA asks Hargreaves to reveal details of share class negotiations
A preferentially-priced 'super clean' share class made available to a few distributors, or a clean share class with a rebate - which would be taxable.
06/17/2013
Agreement Reached Over MiFID II
This will enable the trilogue process to commence with the EU Parliament and EU Commission.
06/16/2013
Danish regulator issues warning for Canadian asset manager
Danish financial regulator, Finanstilsynet, has warned against Canadian asset manager Arrow Capital offering services in Denmark
06/16/2013
Eversheds eyes expansion for Africa network
Eversheds is setting out to grow its network of African best friend firms as work coming into the continent continues to boom.
06/16/2013
IFA pens financial advice book for women going through a divorce
Foxley, director of The Women’s Wealth Expert, has penned The Wealthy Divorcee: A step by step guide to navigating the finances during and after divorce.
06/14/2013
ABN Told by Court to Pay Fired Energy Bankers $1.41 Million
ABN Amro Group NV was told by an Amsterdam court to pay 1.06 million euros ($1.41 million) in compensation to two bankers it fired
06/13/2013
Madoff's UK unit was "warehouse for stolen money"
U.S. fraudster Bernard Madoff used his London-based company to "warehouse" huge amounts of money stolen from the Ponzi scheme
06/13/2013
Supreme Court decision in Prest v Petrodel: The 'unyielding rock' of corporate integrity? - Withers
Welcome clarity from the Supreme Court on financial awards from companies on divorce
06/13/2013
Ex-Bradford & Bingley Banker May Be Fined in Secret FCA Dispute
The fine hasn’t been confirmed and Willford may still challenge it at the Upper Tribunal, another court dealing with regulatory disputes.
06/13/2013
Conyers’ Claire McConway moves to Firm’s London office
Claire McConway has relocated from Conyers Dill & Pearman’s Moscow office to its London office, where she takes up a new role as Head of the Russia and CIS practice, London office.
06/12/2013
UK's FCA Gathering Information on Alleged FX Rate-Rigging
The FCA is aware of these allegations and has been speaking to the relevant parties,
06/12/2013
An oil tycoon’s ex-wife won a Supreme Court battle for her £17.5million share of his fortune
The decision is a blow against cheating spouses who seek to evade their responsibilities using company structures.
06/11/2013
Bernard Madoff recovery trail leads to London
The High Court battle over the assets of fraudster Bernard Madoff is moving into the end game as the liquidators of Madoff's UK company open their fight to recover at least $80m they allege was unlawfully paid to his family and company directors.
06/11/2013
UK challenges 'illegal' EU power to ban short-selling
The Government has challenged new European Union powers to regulate financial markets as "unlawful" and an "institutional revolution" by the back door, during a legal challenge in Europe's Luxembourg court.
06/11/2013
Dechert Expands Corporate Practice in Paris
We are also very excited about the cross-selling opportunities offered by Dechert’s leading fund formation practice which is known to many of our clients,” said Grollemund.
06/10/2013
AIFMD – Guidelines on AIFMD Reporting Obligations - Withers
The European Securities and Markets Authority has published a consultation paper on guidelines relating to reporting obligations under the Alternative Investment Fund Managers Directive.
06/10/2013
Former A&O associate rejoins as banking partner after stint at Goldman Sachs
Denise Gibson is to rejoin the firm as a banking partner following a stint at Goldman Sachs.