07/25/2012
Former HSBC worker Herve Falciani arrested over stolen account details
Swiss authorities confirmed they were carrying out a criminal investigation into the matter, which dates back to 2008.
Legal, Regulation & Compliance
07/25/2012
European regulator Esma publishes ETF and Ucits guidelines
According to Esma, the guidelines will strengthen investor protection and set out the types of financial index Ucits products can invest in.
07/25/2012
LG sees PEP tumble as firm blames 'increased property costs'
Managing partner Hugh Maule put the blame on “increased property costs” in London as PEP slipped from £412,000 in 2010-11 to £303,000 in 2011-12.
07/25/2012
FSA cancels Kent-based IFA over RMAR non-submission
He failed to submit his RMAR for the year ending December 2011 and has subsequently ignored “repeated requests” to do so, according to a final notice issued by the regulator.
07/25/2012
German Banks Seek Delay to EU Implementation of Basel III
This makes the planned start date of the Basel III rules "unrealistic," as more than just one to two months' notice is needed to analyze the final text of the regulations and directives, to make changes to information technology systems, an
07/24/2012
Adviser wins £260k VAT appeal against HMRC
Bloomsbury Wealth Management has won an appeal to have almost £260,000 in VAT repaid after a tax tribunal ruled the firm was providing services that were exempt from VAT.
07/24/2012
Deutsche Bank internal Libor clears board
A Deutsche Bank internal investigation into Libor has found that two former traders may have been involved in colluding to manipulate the rates but said there was no indication of failure at the top of the organisation, Reuters reported.
07/24/2012
Bankruptcy hasn't curbed luxury lifestyle of 'outsider' Sean FitzPatrick
His arrest at Dublin airport as he returned from a break in the US is just the latest sign that Sean FitzPatrick still enjoys a lifestyle way beyond the reach of most of those left to pick up the Anglo tab.
07/24/2012
Six found guilty of operating insider dealing ring
The defendants will be sentenced on Friday 27th July 2012.
07/23/2012
HSBC scandal erupts as British bank sector faces shake-up
HSBC last week apologised and its head of compliance David Bagley resigned after US lawmakers accused the London-based bank of failing to apply anti-laundering rules, benefiting Iran, terrorists and drug dealers.
07/23/2012
British tax dodgers to be publicly named
For decades the British Trades Union Congress has been arguing that closing down avoidance opportunities for wealthy individuals and business would limit the need for public sector cuts.
07/23/2012
Ex-Anglo Irish head held in fraud probe
He resigned from the bank in 2008 after the "inappropriate" failure to disclose €87m (£82m) in personal loans from the bank.
07/23/2012
Treasury Committee instructs Devereux Chambers' Jonathan Fisher QC on Libor investigation
The Treasury Committee has turned to Devereux Chambers corporate and financial crime silk Jonathan Fisher QC to advise it on an investigation into the ongoing fallout from the Libor scandal.
07/23/2012
Treasury Committee instructs Devereux Chambers' Jonathan Fisher QC on Libor investigation
It is his first such role and Fisher has been instructed to advise on both the civil and criminal enforcement issues relating to the inquiry.
07/23/2012
UK Unveils New Plans To Tackle Tax Avoidance
Tax avoidance has become a hot topic in the UK recently, with the government keen to be seen as cracking down on the practice. Last month, a number of high profile celebrities were revealed as having participated in legal schemes including the 'K2&am
07/22/2012
Firms could relocate back to Britain after tax change
WPP, the world’s biggest advertising group, has already committed to moving its company headquarters back to London from Dublin, and a slew of others are expected to follow suit.
07/22/2012
Luxembourg Funds Probed by Belgian Tax Inspectors, De Tijd Says
De Tijd quoted Belgian Finance Ministry spokesman Francis Adyns as saying officials are investigating how some Belgians used the funds to avoid tax.
07/22/2012
German courts take aim at Ecclestone
Bribery is a serious charge in Germany in which suspects are usually arrested but nevertheless, the 81-year-old British multi-millionaire has said he will attend this weekend's German Grand Prix at Hockenheim.
07/22/2012
Legislators must force cultural change in financial services
The Panel has long argued that the defective culture of financial services organisations is at the root of misselling. Providers putting their own interests above those of the customer have characterised both the PPI and Libor scandals.
07/22/2012
HSBC facing North Cyprus legal battle
The battle for land rights on the divided island has been the subject of intense legal battles for many years.