09/10/2012
“This is not the first time we have seen the impact on client money overlooked as part of a re-organisation. The fine imposed today should remind all firms of the critical importance we place on ensuring proper protection of client money at all time
09/09/2012
A trader accused of a $2.3 billion fraud at Swiss bank UBS was due to go on trial Monday in London in a case expected to once again put the supervision of bankers under the spotlight.
09/09/2012
He lives in Paris and has a home in Brussels, the daily said. “Contrary to the reports published today, Mr Bernard Arnault states that he is and will remain a French tax resident,” a statement put out by Arnault’s press office said.
09/09/2012
Royal Bank of Scotland could be fined up to £300m later this year to settle allegations traders sought to manipulate the libor interest rate, according to reports.
09/09/2012
“Permitting the defendant to travel to his country of origin or residence would be an invitation to flee”
09/09/2012
Top bankers can currently be fined or banned by the Financial Services Authority (FSA), but the proposals would extend to a much wider proportion of the industry.
09/09/2012
French President François Hollande pledged on Sunday to honour his campaign promise of a 75 percent income tax on wealthy individuals as he unveiled a two-year economic recovery plan featuring strict budget targets and 20 billion euros in new taxes
09/06/2012
“Tolerance of tax evaders, no matter how high up they are, is over”
09/06/2012
Late last month, Zurich-based Julius Baer said client data had been leaked. According to Swiss media, the data was then passed on to officials in North Rhine-Westphalia, a German state which has tapped leaked Swiss data before as part of efforts to hunt t
09/06/2012
The Proposed Rules, which are not yet final, would have the effect of increasing the flexibility for issuers, including hedge and other alternative investment funds, to solicit purchasers through general solicitation, but would also impose a more signific
09/06/2012
The banking industry has come under fresh scrutiny after the Financial Services Authority ordered Barclays to overhaul its culture and its boardroom following the appointment of its new chief executive, Antony Jenkins.
09/05/2012
ASIC may investigate Macquarie Private Wealth for "for ongoing compliance failures; for providing clients with inappropriate advice", and other breaches, the Sydney Morning Herald reports.
09/04/2012
The EU is attempting to tackle a gender imbalance across the 27 member countries after its research found that women comprised just 13.7pc of board positions in listed companies.
09/04/2012
Such audits were proposed four years ago by the United States and could become a requirement under regulations being considered in Britain after a scandal over the manipulation of the London Interbank Offered Rate caused havoc this year.
09/04/2012
The Aberdeen-based practice, which has a subsidiary called Golden Square Wealth Management, said a rise in private client work had also helped fee income in the year to 31 March grow 4.7 per cent to £10.4m.
09/04/2012
At least four former Barclays traders who worked under Pal in New York have drawn scrutiny from U.S. prosecutors and regulators in the investigation into the manipulation of the London interbank offered rate and related benchmark interest rates, according
09/04/2012
The case against UBS was opened on August 29, following a criminal complaint by the Bruno Manser Fund over the bank’s close ties with Sabah Chief Minister Musa Aman.
09/04/2012
Following the financial crisis, UBS does not dispute the need for tougher bank regulation on issues such as risk, liquidity and emergency measures, Weber said, but he warned of possible knock-on effects of putting rules into place without consulting banks
09/03/2012
After December 31, 2012, unless Congress enacts new legislation, this opportunity will vanish and will be replaced by a $1 million exemption and a 55 percent federal transfer tax rate.
09/03/2012
Federal Judge Marcelo Martinez de Giorgi will ask Interpol to issue an international arrest warrant seeking Mulford's extradition for questioning over the bond exchange carried out by the government in an unsuccessful bid to avoid default.