08/14/2012
MAB and 3VB offer first defence in Barclays test case
The defence statement was compiled by 3VB’s Adrian Beltrami QC, instructed by Matthew Arnold & Baldwin partner Clare Stothard, for Barclays.
Legal, Regulation & Compliance
08/14/2012
Linklaters and Cleary lead on Bank of America wealth management sell-off
The New York firm fielded a cross-border team led by corporate partners Paul Shim and Simon Jay, based in the New York and the London offices respectively.
08/14/2012
Guilty verdicts in £10m fraud trial
Three people involved in a fraud that targeted UK investors and expats in Majorca have been convicted.
08/13/2012
StanChart faces huge fine as Barclays chairman ponders current account fees
That will make a huge dent in its £4bn profit fore the first half of this year, and the regulator may just kick the offer into the high grass.
08/13/2012
Inquiry launched into RSM Tenon
PricewaterhouseCoopers is being investigated over its audits of crisis-hit corporate finance firm RSM Tenon.
08/12/2012
UBS denies report it abets German tax evasion
The bank doesn't provide tax services to clients, UBS spokesman Dominique Gerster told Dow Jones Newswires.
08/12/2012
Former Barclays trader "has cooperated" with Libor probe
The hedge fund, WCG Management, sent an email to its investors on Sunday informing them that the $3.4 billion fund is not under investigation in the Libor probe, but confirmed that portfolio manager Ryan Reich has drawn scrutiny from U.S. prosecutors.
08/12/2012
French Constitutional Court Says Wealth Tax Rise Must Be Interim
The country’s parliament approved the increase last month as part of a supplemental budget.
08/12/2012
Memery Crystal focuses on Africa after strong year
The London-based firm also continued its reign as the top firm for the number of Aim-listed clients (31 October 2011) and increased its growth in litigation for the third year running.
08/12/2012
Maclays, Norton Rose, Taylor Wessing clinch £209m property finance jobs
A raft of firms including Maclay Murray & Spens, Norton Rose, Taylor Wessing and Tods Murray scooped roles as property fund Picton Property Income secured £209m from Aviva and Canada Life to refinance one of its portfolios.
08/12/2012
Drafts of FATCA Model Intergovernmental Agreements Released
The US, UK, France, Germany, Italy, and Spain have jointly issued drafts of two versions of model agreements implementing FATCA through a process of intergovernmental information exchange (the “Model Agreements”).
08/09/2012
CISI and FINRA announce cooperation on exams and membership
The FINRA/CISI MoU will ensure that relevant FINRA members holding the Series 7 – General Securities Representative Examination -- will be able to maintain or achieve authorisation as Retail Investment Advisers in Securities and/or Derivatives from
08/09/2012
IMA proposes a new clearing approach to protect investors
The EMIR Regulation is intended to reduce the risk associated with the OTC derivatives market and establish common rules for central counterparties and trade repositories.
08/09/2012
UK FSA to suggest scrapping LIBOR
Following the recent LIBOR scandal, which has already seen Barclays fined £290m by US and UK regulators for manipulating the rate, the UK regulator will today set out a package of proposals designed to restore trust, the Financial Times reports.
08/08/2012
German State Buys More Data on German Investors From Swiss Banks - Report
A spokesman for the state's Finance Minister Norbert Walter-Borjans told Dow Jones Newswires the minister doesn't comment on single cases, and that the ministry receives and examines data regularly.
08/08/2012
In London, Censure of an Elite Bank Draws Harrumphs
But now that a state regulator in New York has accused Standard Chartered, one of London’s most reputable banks, of colluding with Iran, Britain seems to be drawing a line against what many here consider American overreaching.
08/08/2012
Japan's biggest bank suspends UK trader over Libor scandal
Japan's biggest bank has suspended a London-based trader over the widening interest-rate rigging scandal in Britain that has rocked confidence in financial markets.
08/08/2012
Linklaters in exclusive alliance talks with South Africa's Webber Wentzel
The deal is set to follow the same formula as the magic circle firm's tie-up with Australia's Allens Arthur Robinson, which subsequently rebranded as Allens, and is expected to consist of a formal referral agreement and one or more joint venture
08/08/2012
Fraud inquiry threat to Barclays over Arab bailout
Serious Fraud Office collaborating with City watchdog's investigation into controversial deal
08/08/2012
FSA looks to strengthen whistleblowing process
IFA Centre managing director Gill Cardy met the FSA last month to discuss concerns among members about the lack of an effective whistleblowing process to highlight poor practice and risky products.