06/12/2012
Linklaters and White & Case land roles on Sberbanks $3.9bn Denizbank deal
Linklaters was retained to advise Russia’s largest bank on its acquisition of Turkish-based Denizbank from Belgium’s Dexia.
Legal, Regulation & Compliance
06/12/2012
Defunct day-trading group challenges FSA
The Financial Services Authority is seeking to fine Swift Trade and its successor company Canada Inc a near record £8m for what it alleges was “layering” – placing and cancelling multiple trade orders in order to move the price of
06/12/2012
Compliance group warns of FSA visits over fund switching
TCC client services director Ian Stott said advisers should expect visits from the Financial Services Authority (FSA) as it hones in on fund switching once it has finalised guidance on centralised investment propositions.
06/08/2012
HMRC warning to London 2012 Olympic torchbearers
Olympic torchbearers may have to pay tax if they decide to sell their keepsakes to the highest bidder, they have been warned by the taxman.
06/08/2012
World's largest forex player enters Malaysian market
The world's largest player in the foreign exchange has launched its first regional hub in Southeast Asia.
06/08/2012
Bail granted to UBS trader accused of fraud in $2 billion loss at Swiss bank
The amount of bail was not disclosed. Adoboli must wear an electronic tag and reside at a friend’s house under the terms set by the court. He is due to stand trial in September.
06/08/2012
Bail granted to UBS trader accused of fraud in $2 billion loss at Swiss bank
The amount of bail was not disclosed. Adoboli must wear an electronic tag and reside at a friend’s house under the terms set by the court. He is due to stand trial in September.
06/07/2012
Reykjavik Court Rejects Credit Suisse Kaupthing Priority Claim
Kaupthing failed with the rest of Iceland’s largest lenders in October 2008 after it was unable to secure short-term financing.
06/07/2012
High Court quashes £100k FSA fine against ex-banker
The claimant, who has been granted anonymity, brought the judicial review proceedings to challenge a decision made by the Regulatory Decisions Committee to issue a decision notice against him in October 2010.
06/07/2012
Freshfields competition veteran heads to Milbank's London arm
Spearing, who joined Freshfields in 1978 and made partner in 1984, has already joined Milbank, where according to the firm's website he is the first UK competition partner in the London office.
06/07/2012
International law firm adds seven-strong team in Paris
As the office recently celebrated its first anniversary, the new arrivals strengthen the Firm’s capabilities in the areas of corporate, tax and dispute resolution law.
06/07/2012
Tax Evasion Eating Into Italian GDP
More than a quarter of the Italian economy eludes taxation, due to underground and criminal economic activities that push up borrowing costs and discourage investment in the country's most vulnerable regions, a senior Bank of Italy official said Wedn
06/07/2012
Madoff trustee files many new lawsuits
Irving Picard, the trustee, filed complaints seeking a respective $354.9 million and $179.4 million from Swiss private banks EFG Bank SA and Lombard Odier Darier Hentsch & Cie
06/06/2012
Barclays staff and top Italian banker on trial over 'tax fraud
He staged a comeback in banking earlier this year as chairman of Banca Monti dei Paschi di Siena.
06/06/2012
Rogue trader blames SocGen for €4.9bn loss
Kerviel, 35, who did not profit personally from the trades, has consistently argued that his superiors knew what he was doing and turned a blind eye as long as he was making them a profit.
06/06/2012
FSA relaxes scrutiny of some City roles
The industry has noticed a sharp drop-off in the number of candidates for board posts at financial groups that have been called for interview by the Financial Services Authority.
06/06/2012
City lawyer 'lost her £200,000 job after exposing corruption'
A lawyer was sacked from her £200,000 a year job with a City law firm after she blew the whistle on corruption in the firm’s African section, a tribunal heard.
06/06/2012
Barclays entitled to $1.8bn related to Lehman bankruptcy, US judge rules
Barclays is entitled to recover roughly $1.8bn of disputed assets and interest related to Lehman Brothers' bankruptcy, a US federal judge said, reversing a decision by a federal bankruptcy judge.
06/05/2012
Banks Must Embrace G30 Call to Action on Bank Governance - Ernst & Young
The report provides the first post-crisis, detailed governance action plan to come from the private sector and outlines how all stakeholders must reassess their approach to corporate governance and take meaningful steps to make it stronger.
06/04/2012
Osborne sues EU over plan to ban short-selling
British finance minister George Osborne is suing the European Union over plans to ban the short-selling of financial products, arguing it would be overreaching its powers, the Financial Times newspaper reported on Thursday.