05/04/2012
The promised principal protection constituted a gross deception because the Lehman notes represented nothing more than unsecured loans by the investors to a financially faltering Lehman, according to the claims.
05/04/2012
HSBC Holdings Plc’s Swiss private bank said fines and penalties relating to a tax-evasion probe by the U.S. as it published figures showing clients outflows in the second half of last year. The terms or timing of a resolution to the Department of J
05/04/2012
HSBC Bank USA is suspected of giving free rein to money launderers
The extent of that failure is laid out in confidential documents reviewed by Reuters that originate from investigations of HSBC's U.S. operations by two U.S. Attorneys' offices.
05/04/2012
Following a strategic review four support staff and two lawyers in the private client team are at risk of losing their jobs.
05/03/2012
At the end of last year, the Swiss bank revealed that it had identified two monitoring controls that were lacking at the end of December 2010, when London-based Adoboli allegedly placed the unauthorised trades.
05/03/2012
Gareth Timms, who joined the firm in 2005, has over 12 years of experience working for Asset Based Lenders on contentious issues. He regularly represents banks, invoice discounting companies and other financial institutions handling claims from complex fr
05/01/2012
The report released today is an Interim Report of the FSB Workstream on Securities Lending and Repos and is preliminary to its work to develop policy recommendations in this area.
05/01/2012
FSA fines wealth firm £26k for 'serious' failings
The FSA found that Christchurch’s Compliance Officer, Thornberry, failed to ensure that client money and assets were managed appropriately.
04/30/2012
The delivery of information on bank employees to the U.S. will be regarded as a “constructive contribution,” the Zurich- based newspaper cited Scholl as saying.
04/30/2012
The firm notified staff and created a telephone hotline for client advisers to check whether they are on the list, the Swiss newspaper said.
04/30/2012
Senator Rand Paul is blocking an amendment to a U.S.-Swiss tax treaty, slowing Switzerland’s handover of data on thousands of Americans with bank accounts hidden from the U.S. Internal Revenue Service.
04/26/2012
The CA's freeze order was in response to an ex-parte petition filed by Philippine Anti-Money Laundering Agency, from which the UK's Serious Fraud Office (SFO) sought assistance.
04/26/2012
He was head of the bank's real estate investments division in China, is also accused of secretly acquiring valuable property in China.
04/25/2012
In an order made public on Tuesday, U.S. District Judge Laura Taylor Swain in Manhattan entered the forfeiture order, covering money seized from a U.S. correspondent account held at UBS in Stamford, Connecticut.
04/25/2012
Pottage has remained at UBS throughout the proceedings and the bank has supported him, saying the disciplinary action was ‘unjustified’.
04/24/2012
The Federal Prosecutor’s Office and the Federal Justice Office have confirmed that Switzerland last year gave legal assistance to Hong Kong in a money-laundering case against Musa Aman, Chief Minister of the Malaysian State of Sabah on Borneo.
04/24/2012
A handful of iconic collectible Krugerrands have been found to be up to 5 percent short on gold, South Africa’s central bank said Tuesday following an investigation that led to the suspension of two mint managers.
04/23/2012
The private client specialist, which already has offices in Edinburgh, London, Guernsey and Geneva, has revealed that it is in advanced negotiations to sign a lease on a site close to George Square.
04/23/2012
Switzerland has decided to give in to demands by Britain to modify a planned bilateral tax treaty, after continued opposition to the accord.
04/23/2012
The Financial Services Authority (FSA) has lost a test case involving UBS in which it tried for the first time to punish a senior manager for inadequate supervision rather than for errors he personally committed.