Managers of Wealth

Porsche wins dismissal of $1bn hedge fund lawsuit

Porsche has won the dismissal of a lawsuit by 26 hedge funds that accused the German car maker of causing more than $1bn of losses by cornering the market in Volkswagen shares.

Greek prosecutors comb through Swiss bank account list

Given to Greece for a second time by French authorities on December 21, the list contains hundreds of names of Greek account holders at global bank HSBC in Switzerland, which authorities want to investigate over suspected tax evasion.

The Depository Trust & Clearing Corporation

The budget minister is at risk of losing his portfolio in an imminent shake-up, newspapers Le Parisien and Le Journal du Dimanche both reported on Sunday, citing unidentified government sources.

RBS Wins Interest-Rate Swap Misselling Case - FT

The High Court on Friday dismissed the claim by Lancashire hotelier Paul Rowley

UBS Willow Management Sued by Investor Over CDS Strategy

A credit-default swap is a contract that requires one party to pay another for the face value of a bond if the issuer defaults.

US indicts Swiss bankers in offshore tax case

Three men who worked for unnamed bank accused of conspiring with US clients to hide more than $420m, says attorney's office

BNP Paribas launches FATCA service for asset managers

Under FATCA, non-US financial institutions will be required to report information about financial accounts held by US taxpayers, or held by foreign entities in which US taxpayers hold a substantial ownership interest.

Ex-Credit Suisse Trader Sues Bank Saying Job Made Him Depressed

Bankers suing their former employers have had a run of legal defeats in London since more than 100 Dresdner Kleinwort workers successfully sued Commerzbank AG for their bonuses in May.

UBS brokers to U.S. clients: Libor isn't our fault

"Many of you have asked me what I will say to clients, prospects, recruits, family and friends who ask about the Libor settlement and its impact on me and WMA," wrote Bob Mulholland, head of wealth management and investment solutions at UBS Weal

Morgan Stanley Wealth Management Launches LGBT Initiative

A new client educational resource - LGBT On Your Terms - is available to help same-sex couples understand the factors that are likely to affect their family's finances and long-term plans.

HKMA says investigating UBS over interbank interest rates

Late last month the Hong Kong Association of Banks said it was considering a series of reforms to the Hibor system, including bringing in a formal code of conduct and reducing the number of rates it publishes.

Banker 'sacked for being too successful’ could be in line for £11 million payout

A banker who claimed that he was dismissed for being “too successful” could be awarded an £11 million payout after winning a five-year battle against his former employer.

FSA bans and fines ex-Gracechurch chief

He has been fined £450,000 for pressure selling small company shares to investors.

Allen & Overy ranked an international superstar of the competition bar by Global Competition Review

Global Competition Review has again included Allen & Overy in the "Global Elite" of 2013

UBS fined £940m for rigging Libor, fraud and paying bribes

UBS Board of Directors authorizes settlements of LIBOR-related claims with US and UK authorities; Swiss regulator to issue order

ABN Amro Has Court Seal Arjav Belgium Diamonds

He said that the company’s dispute is only with ABN Amro.

Deutsche Bank Probes Claims of Deleted E-Mails in Tax Probe

Deutsche Bank AG, whose offices were raided by German police four days ago

U.K.'s FSA Sends Libor Notices to UBS Staff

The U.K.'s Financial Services Authority has sent out investigation notifications in the past week to at least five individuals linked to UBS

Serious Fraud Office charges hedge fund founder in revived case

At the time the SFO was filtering out cases which it felt had no reasonable chance of conviction.

U.S. Secret Service Bans Certain Gold and Silver Coins On eBay

Email was sent to affected sellers when the systematic removals began.

Legal,Regulation,Tax & Compliance