07/01/2012

Europe's market watchdog probes rating agencies-FT

The European markets watchdog is investigating whether the big three credit ratings agencies' methods of evaluating banks are rigorous and transparent enough, its chairman Steven Maijoor told the Financial Times on Monday.

06/28/2012

Commerzbank to pay staff bonuses by selling shares

Around 60 percent of the employees have decided they would not keep the shares but would instead sell them immediately to institutional investors, with Commerzbank itself and Deutsche Bank AG acting as bookrunners.

06/26/2012

S.E.C. Said to Be Poised to Sue Fund Manager

Adding to Mr. Falcone’s mounting woes, the Securities and Exchange Commission is expected to sue the money manager as soon as this week, planning to accuse him of taking a personal loan from his hedge fund, Harbinger Capital Partners, and of giving

06/25/2012

Managers prepare to Fatca-proof wealthy

Non-US financial institutions must sign an agreement with the IRS by June 30 2013 to identify and report on clients with links to the US and more than $50,000 in an account.

06/25/2012

Top Court Rejects Appeal on Foreign Bank Account Subpoena

The justices rejected an appeal by a man, identified by the initials M.H., who was held in contempt of court for refusing to comply with a grand jury subpoena seeking records that foreign- account holders are required to keep under the federal Bank Secrec

06/25/2012

Asset managers face challenge of Solvency II

ASSET managers face a culture shock following the implementation of the European Union’s Solvency II directive, according to research released yesterday by KPMG.

06/21/2012

Swiss and US move forward on tax compliance

The US legislation has worried foreign banks that have American clients as banks face penalties if they refuse to give the United States certain client information required under Facta.

06/21/2012

Ireland fines UBS for lack of controls

The €65,000 penalty handed out to the Swiss bank’s unit is part of Ireland’s broader effort to strengthen oversight of the banking sector after the financial collapse that forced the country to seek a €67.5bn bailout from the EU and