Richard Heis, the joint special administrator of MF Global UK, said: '[The] court hearing represents an important milestone in returning some £54 million of agreed client assets.'
Observers, however, are beginning to see some consistency regarding the implementation of new regulations across the globe, with the U.S. and Europe setting the bar and Asia catching up.
Kristin Lemkau, a JPMorgan spokeswoman, said that Goldman asked to leave the company and that during his tenure he "behaved with integrity and we wish him well."
The Securities and Futures Commission said it had raised concerns that in more than 3,000 transactions, Societe Generale's clients had paid or received a different price for over-the-counter traded products than the price paid by the bank, with the d
Andrew Bailey, head of the Prudential Business Unit at the Financial Services Authority (FSA), added that Mr Diamond's account of his and the bank's relationship with regulators was "highly selective".
The NFA rules are part of an ongoing response to recent market events, and are the result of coordinated and collaborative efforts by the Commission, self-regulatory organizations and market participants, including the two-day public Roundtable hosted by
Sun Hung Kai Properties co-chairmen Thomas and Raymond Kwok, two of Asia’s wealthiest men, were among five people charged with eight offences, an official statement said.
On February 9, 2012, the CFTC issued a final rule regarding changes to Part 4 of the Commission’s regulations involving registration and compliance obligations for CPOs and CTAs.
The US Justice Department, meanwhile, has identified potential criminal wrongdoing by big banks and individuals at the centre of the scandal.
The bilateral treaty between India and Switzerland, the Double Taxation Avoidance Agreement (DTAA), provides the framework within which Indian authorities can seek administrative assistance against tax evasion or fraud.
Robert Morfee, a lawyer from Clarke Willmott who specialises in investment disputes and has been working with a number of clients who were invested in the AIG fund, has warned Coutts’ clients who are receiving offers that they should be mindful of
At the same time, German newspaper the Handelsblatt has reported that up to 7,000 Credit Suisse clients are being targeted by a separate tax evasion investigation in Germany.