09/23/2012
Cirencester legal practice expands
Wilmot’s managing partner Michael Grenfell said the move would support the firm’s expansion.
Legal, Regulation & Compliance
09/23/2012
Belgium minister rules out wealth tax
"A wealth tax is a door we must leave shut during this legislature," Vanackere said of the 30 months before the centrist six-party coalition headed by Socialist premier Elio Di Rupo faces elections.
09/20/2012
IMA publishes final fund fee disclosure guidance
The Investment Management Association (IMA) has issued industry guidance on enhanced disclosure of fund charges and transaction costs incurred by UK-authorised funds.
09/20/2012
German banks face mixed news on regulation
If Reuters reports on Bafin come to pass, German banks will have until mid-2013 to meet Basel III requirements.
09/20/2012
UBS ignored rules for profit, says "rogue trader" lawyer
Managers at Swiss bank UBS turned a blind eye when traders exceeded their agreed limits as long as the bank was making money from their deals, a lawyer for accused "rogue trader" Kweku Adoboli told a London court on Thursday.
09/20/2012
Derivatives industry urges caution on Libor reform
Britain's Financial Services Authority is publishing its recommendations for legal changes to Libor on September 28.
09/19/2012
UBS Paris offices searched in tax evasion probe
UBS says cooperating with investigation
09/19/2012
Planning for the AIFMD: are hedge fund managers fully prepared
The Directive’s requirements will be significant and its implications far-reaching for both EU hedge fund managers and (increasingly over time) non-EU hedge fund managers seeking to raise capital in Europe.
09/19/2012
Paedophile accuses Rabobank and ABN Amro of discrimination
A leading Dutch pro-paedophilia campaigner has made formal complaints of discrimination against Rabobank and ABN Amro for refusing to give him a bank account, the Volkskrant reports on Wednesday.
09/19/2012
FSA fines Pi Financial for Ucis and structured products failings
Pi advised 168 clients to invest £6 million in Ucis and 362 clients to invest £20 million in structured products.
09/18/2012
City law firm Field Fisher in merger talks worth £200m
“It is well known that merger is on Field Fisher Waterhouse’s agenda as potentially one way of achieving our ambitious growth plans and strategic objectives”
09/18/2012
UBS was aware of Kweku Adoboli's billion-dollar trading problems six weeks prior to arrest
UBS was aware of a $3.6bn (£2.2bn) black hole in trading accounts produced by the alleged rogue trader Kweku Adoboli six weeks before he was arrested, a court heard.
09/18/2012
Inheritance tax could be scrapped in exchange for resurrection of mansion tax
Inheritance tax on property would be scrapped in exchange for a new mansion tax on large houses, under plans being considered by the Liberal Democrats.
09/18/2012
Spain to Keep Wealth Tax in 2013 Budget
The Spanish government will keep a tax on the wealthiest in the 2013 budget as the country aims to cut its deficit down to 4.5% of the gross domestic product next year, reports Expansion in its Wednesday Internet edition, citing unidentified sources close
09/18/2012
Deloitte announces revenue results of US$31.3 billion
Deloitte Touche Tohmatsu today announced aggregate member firm revenues of US$31.3 billion for the fiscal year ending 31 May 2012, marking the network’s highest revenue ever.
09/18/2012
France To Undo Sarkozy's Wealth Tax Reform
Despite having originally planned major wealth tax reforms, the French government is now resigned to the idea of merely re-establishing the previous wealth tax scale of between 0.55% and 1.8%, and to introducing a fiscal cap of 80% of income to accompany
09/18/2012
Linklaters launches leadership scheme to target female recruitment and retention
Linklaters has launched a Women’s Leadership Programme aimed at attracting and retaining female talent at the firm.
09/16/2012
Tax CDs bring billions for German state
The state of North-Rhine Westphalia has helped Germany recover more than 3 billion euros ($3.9 billion) from German tax evaders after buying compact discs with details of Swiss bank accounts, according to the region's finance ministry.
09/16/2012
FSA told to start compensation process for mis-sold customers
The FSA’s review followed an investigation
09/16/2012
Europe at loggerheads over banking union
All 27 EU countries must agree on the new system, even though it will only apply to the 17 counties of the eurozone initially.