06/21/2012
Linklaters UK real estate chief quits
Linklaters’ UK head of real estate Anne Byrne has resigned from the firm, just a month after the departure of three partners in May.
Legal, Regulation & Compliance
06/21/2012
Towry in talks with lawyers and FSA over independence
Towry has sought legal advice and is consulting with the FSA over whether it will remain independent or move to a restricted proposition after the RDR.
06/21/2012
German banker admits bribery in F1 case
A former German bank boss admitted on Wednesday receiving tens of millions of euros in bribes from Formula One mogul Bernie Ecclestone, breaking months of silence in the case.
06/20/2012
FSA: financial services should not bear MAS costs
'The sequence of events, the increase of the levy from £20 million to £45 million, originated form the Thoresen Review, that we needed generic financial advice, and then a set of decisions from government that showed it did not want to pa
06/20/2012
UBS, Kuwaiti royal square off behind closed doors
UBS has confirmed that Sheikh Meshal was invited to apply for a non-executive post at the bank. However, the bank has also claimed that it already had a strong relationship with Zain, having advised on many of its previous deals.
06/20/2012
Commerzbank looks to overturn ruling
The bankers sued in the UK over their claims to a €400m pool announced in 2008 to help retain staff.
06/20/2012
FSA refuses to reveal the identity of Mr X
Mr X, as the person has been referred to by tribunal, denied he owned an account with the UK-based UBS Wealth Management, called Customer A account, used by some UBS officials to make large-scale unauthorised transactions.
06/20/2012
FSA reveals its latest executive pay and bonuses
The FSA has published its annual report for 2011/12, which sets out how the regulator has performed against its business plan for the year. It also sets out salary and benefits paid to FSA senior management.
06/20/2012
Morgan Stanley looks to settle with nuns
Lawyers told a High Court judge in London that the bank had agreed a "provisional" settlement with investors.
06/20/2012
Maples to create 75 new Dublin jobs
This is as a result of growing demand for both its international legal services and the fiduciary and fund administration services provided by its affiliate, MaplesFS, it said.
06/19/2012
Royal Bank of Scotland Group - Approval of Cross-Border Merger
It is expected that the Demerger will be implemented shortly prior to the Merger and come into effect at 00:00 hrs on 9 July 2012.
06/19/2012
Liechtenstein Landesbank to Turn Over Client Names
Liechtenstein, a country known for its banking secrecy laws, recently agreed to allow its second largest bank, Liechtensteinische Landesbank AG, to turn over U.S. client data to the Internal Revenue Service (IRS) and the U.S. Department of Justice (DOJ).
06/19/2012
Vince Cable: RBS report recommends prosecution
The Sunday Telegraph understands that a detailed legal report prepared for Mr Cable found that there is “prosecutable evidence” which can be used to bring about the disqualifications.
06/19/2012
HNW Individuals Not Forced To Use Ring-fenced Banks Under UK Proposals
Last week, finance minister George Osborne said the government will introduce legislation as soon as possible to push ahead with the ring-fencing idea, designed to ward off the risk of future massive taxpayer bailouts of banks.
06/19/2012
SFO set to drop its Vincent Tchenguiz probe
The SFO is not expected to drop its investigation into Vincent’s younger brother Robert at this point.
06/19/2012
LG raids Bird & Bird to beef up banking ahead of merger
Israel is leaving a role as finance partner and UK-based co-head of Bird & Bird’s international corporate restructuring and insolvency group to join LG.
06/18/2012
Taxation of high value residential real estate
The consultation paper “Ensuring the fair taxation of residential property transactions” has been published by HM Treasury.
06/18/2012
A General Anti-Abuse Rule - By Withers Worldwide
The consultation document “A General Anti-Abuse Rule” has been published by HM Treasury.
06/18/2012
SNR Denton exodus continues with SH and KBH Kaanuun benefiting
The firm has picked up two more litigators following the recent hire of Andrew Myers from SNR Denton (11 June 2012), with contentious restructuring partner Elizabeth Elliott joining from the same firm and construction litigation partner Ron Nobbs moving f
06/15/2012
HMRC Target Buy to Let Landlords
The taskforces were launched as a result of the government’s £917 million spending review investment to tackle tax invasion, avoidance and fraud in 2011.