12/21/2018
Merrill to Pay $6 Mln for Favoring ‘Insiders’ with IPO Shares
IPOs Included Facebook, Inc., General Motors Co., LinkedIn Corp., and Twitter Inc.
Legal,Regulation,Tax & Compliance
12/21/2018
Julius Baer sells its domestic business in the Netherlands
In its strategic push to focus on core markets, Julius Baer has agreed to sell its domestic business in the Netherlands to Wealth Management Partners N.V.
12/20/2018
Diversity in financial services and the challenge to be met by Christopher Woolard, FCA
Speech by Christopher Woolard, Executive Director of Strategy and Competition at the FCA, delivered at Ropemaker Place, London.
12/20/2018
Santander fined £33m for failing to pass on inheritances
The Financial Conduct Authority has fined Santander £32,817,800 for failing to effectively process the accounts and investments of deceased customers.
12/20/2018
ESMA tells firms to provide clients with information on the implications of Brexit test
The statement is addressed to UK firms that provide services in EU27 Member States, as well as EU27 firms that deal with clients based in the UK.
12/20/2018
High-flying investment bankers, reclusive billionaires, and 'The Wolf of Wall Street': a guide to the major players in Malaysia's 1MDB scandal
A Malaysia Development Berhad billboard at the flagship Tun Razak Exchange development in Kuala Lumpur.
12/20/2018
Ukraine's central bank files Swiss court claim against PrivatBank's former owner
It said it had failed to reach an out-of-court agreement with the second wealthiest person in Ukraine, who is being asked to repay 6.64 billion hryvnias
12/19/2018
Singapore central bank bans former Goldman Sachs' banker for life
This follows Mr Leissner’s admission to criminal charges brought against him by the United States Department of Justice.
12/18/2018
TMF Group to acquire fund administration business in Channel Islands from State Street
The acquisition is a key milestone in TMF Group’s drive to further grow its PERE fund administration business.
12/17/2018
French luxury dynasty in court battle over 'Mona Lisa' of Ferraris
My brother and sister have never accepted that (my father) gave this car to me
12/17/2018
A Billionaire Hit by Sanctions Makes Life Hard for Nordic Banks
The billionaire is suing Svenska Handelsbanken AB for refusing to accept cross-border transactions
12/17/2018
UK govt to stop use of illicit money in property purchases by foreigners
The phenomenon has turned the real estate markets of North American and European cities into the savings accounts of wealthy foreigners - some of whom face allegations of corruption or crime back home.
12/17/2018
Guernsey regulator clarifies collateral rules for ILS cells
The regulator, the Guernsey Financial Services Commission (GFSC), has clarified a number of issues around the authorisation process for ILS cells following talks with the Guernsey International Insurance Association.
12/17/2018
The Story of Malaysia’s 1MDB, the Scandal That Shook the World of Finance
The figures are mind-boggling: A Malaysian parliamentary committee identified at least $4.2 billion in irregular transactions related to 1MDB.
12/17/2018
Malaysia files criminal charges against Goldman Sachs over 1MDB
According to the charge sheets filed in a Kuala Lumpur court obtained by theedgemarkets.com, the primary target is Goldman Sachs International (UK) which had arranged the sale of three bonds — two in 2012 and one in 2013.
12/17/2018
Successful first year for Carey Olsen Bermuda
With seven senior lawyers leading various practice areas and three lateral partner hires its impact has been unprecedented in the Bermuda market.
12/14/2018
EU’s Expanded Tax Haven Blacklist Could Apply to U.S.
The standard calls on countries to obtain information from their financial institutions and automatically exchange it with other countries every year.
12/14/2018
China’s rich rush to shelter $1 trillion from new taxes
The reforms, which take effect Jan. 1, are meant to reduce the tax burden on lower-and middle-income people by making the rich pay more.
12/14/2018
Monaco’s tax lure endures as UK billionaire plots move
The principality doesn’t apply any annual property, capital gains or council taxes.
12/13/2018
FCA Seek Retrial of Ex-UBS Compliance Officer On Insider Case
The defendants allegedly made £1.8 million in profit through the inside trading of stocks.