08/08/2012
Fraud inquiry threat to Barclays over Arab bailout
Serious Fraud Office collaborating with City watchdog's investigation into controversial deal
Legal, Regulation & Compliance
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.
08/07/2012
Standard Chartered US claims puts auditors back in dock
Auditor Deloitte has rejected claims it helped Standard Chartered hide $250bn (£161bn) of illegal Iranian transactions in the latest scandal to embroil the industry.
08/07/2012
Amanda Allen bounced cheque case could affect UAE expats
Case involving a bounced cheque in Abu Dhabi could cause problems for Britons looking to buy property in the UAE.
08/07/2012
Former Lloyds’ online security chief admits £2.5m fraud
At Southwark Crown Court today, Harper, age 50, admitted a single charge of fraud by abuse of position by submitting false invoices to claim payments, reported the BBC.
08/06/2012
Standard Chartered rejects Iranian 'scheming' claims: statement in full
Standard Chartered has firmly rejected claims that it “schemed” with Iran to conduct secret transactions worth $250bn (£160bn). Here is its statement in full.
08/06/2012
Cleary up front on China investment in Italy football giant Inter Milan
The club declined to disclose the identity of the investors or the financial terms of the deal, which will will see the Chinese investors become the second-largest stakeholders behind the Moratti family.
08/05/2012
FATCA creates strategic dilemma for wealth managers
The inter-governmental rules were made in conjunction with France, Germany, Italy, Spain and the UK, which have all made reciprocal agreements with the US.
08/05/2012
Fraud Office to be paid 'by results' for Libor probe
There is no blank cheque and, in contrast to previous big cases, money will not be made available in one go.
08/05/2012
Paid-for accounts threaten new bank scandal
More than 10 million customers with paid-for bank accounts will receive letters assessing their eligibility for the products within the next 18 months, potentially sparking a scramble for compensation to rival the PPI mis-selling scandal.
08/05/2012
Reed Smith wins Co-op relationship with £950m refinancing
The new financing arrangements amount to up to £950m, with pre-agreed capacity to increase to £1bn.
08/05/2012
Goldman Sachs sued for £160m
A writ lodged in the High Court by Dutch pension fund Vervoer alleges that Goldman’s proprietary trading desk was short-selling mortgage-backed securities “on a very large scale to profit from falling prices” in the middle of 2007.
08/05/2012
Years of wrongdoing alleged at Standard Chartered
It labelled UK-based Standard Chartered a "rogue institution".
08/02/2012
FSA consults on introduction of new pay reporting rules
All banks, building societies and investment firms with assets of more than £50bn to be hit by proposals.
08/02/2012
FSA investigates Barclays finance chief over fees in financial crisis fundraisings
The news was revealed in its first-half results in which it apologised for the Libor rate rigging scandal and posted better-than-expected underlying half-year profits of £4.2bn.
08/02/2012
Deutsche Bank Says Facing Lawsuit Over Yen Libor, Derivatives
The lender filed in June to dismiss those lawsuits, which have been consolidated for pre-trial purposes in federal court in New York.
08/02/2012
Turkish Bank fined over money-laundering
They led to an unacceptable risk that TBUK could have been used to launder money
08/02/2012
Linklaters targets shadow banking in bid to bolster finance practice
The group, which targets the so-called ‘shadow banking’ sector not currently under the eye of regulators, is a response to the reluctance of traditional banks to lend, with ACPs taking their place.
08/01/2012
Northern Rock compensation claim rejected
Former employee says 150,000 private shareholders 'baffled, startled and angered' by European court of human rights decision
08/01/2012
Public consultation on Solvency II reporting leads to QRT structure changes
This is an integral part of the ongoing maintenance and consulting support that we provide to our ABACUS/Solvency II clients.”