03/27/2013
AWD Chase de Vere to be lead case in FSCS Keydata legal battle
There are around 500 adviser firms being pursued by the FSCS, relating to about 1,500 Keydata investors.
Legal,Regulation,Tax & Compliance
03/26/2013
Slaughters, Herbert Smith and Ashurst advise on Schroders' £424m Cazenove takeover
The deal comes after Berwin Leighton Paisner earlier this year took a role for Schroders on the Alternative Investment Market listing of its West End property trust.
03/26/2013
Bundesbank blasts plan to hand Bank of England regulatory powers
Plans hand the Bank of England sweeping new powers to regulate the financial system have been criticised by the former head of the Bundesbank, who warned they risked the independence of the central bank.
03/26/2013
Wider powers could damage BoE, warns UBS head
I refused it flat… I thought this was too high a price to pay
03/26/2013
Man Group picks new GC as hedge fund's legal chief leaves
Singh has been a member of the alternative investment manager’s in-house team since joining from Clifford Chance
03/26/2013
FSA fines Prudential £30m and censures CEO over failed AIA bid
Prudential failed to deal with the FSA in an open and cooperative manner when it was seeking to acquire AIA in early 2010, because it did not inform the FSA of the proposed acquisition until after it had been leaked to the media on 27 February 2010.
03/26/2013
FSA fines IFA firm £56,000
The Manchester-based firm advised 98 clients to invest a total of £3.1m in Keydata’s life settlement products between September 2005 and April 2009.
03/25/2013
Withers reports UK turnover and profit rise for 2011/12
Turnover for Withers’ worldwide operations rose by 12 per cent last year
03/25/2013
FCA to probe fund management costs
Regulator to probe “complex” and “harmful” fund charges in the next financial year.
03/25/2013
IRS Apologizes for $60,000 'Star Trek' Tax-Evasion Training Video
There was demand that the IRS release the “Star Trek” video to the public, to show how money was being wasted.
03/25/2013
British regulator details new Libor rules
The Financial Services Authority has finalised new rules and regulations for financial benchmarks.
03/25/2013
Sheik Spars With UBS Over $20 Million Fee
The trial is scheduled to begin in June.
03/25/2013
Thomas Eggar bolsters private client tax team as UHNWI demand grows
He was previously at Withers and more recently a member of Baker & McKenzie’s highly regarded tax team,
03/25/2013
UBS asks Singapore court to seal cases of two fired traders
The request for seals underscores the highly sensitive information within the cases, which stem from a global crackdown on banks involved with submitting false reference rates for various markets to benefit trading books.
03/25/2013
FSA and Bank of England relax barriers to entry for new bank entrants
This Review sets out significant changes to regulatory requirements and authorisation processes which, taken together, will reduce some of the regulatory barriers to entry into the banking sector and, as a result, enable an increased competitive challenge
03/24/2013
Iceland Indicts 15 Over Financial Crisis
These are quite big cases by any measurement, they're my biggest cases so far
03/24/2013
Speechlys and Withers in talks over £170m merger
“What it’ll end up with is the world’s biggest private client firm."
03/24/2013
Aquino warns wealthy Chinese on tax evasion
Recent government investigation led to "unexpected" findings that just 8pcof member-firms of the Filipino-Chinese Chambers of Commerce paid taxes
03/24/2013
Switzerland denies banking deal in principle reached with U.S.
The Swiss government's comments, however, left the door open to an alternative to an industry-wide settlement.
03/24/2013
BNP Paribas expands its global set-up for AIFMD
To better service its clients ahead of AIFMD, BNP Paribas continues to ramp up its global offering to better support asset managers and institutional clients throughout this latest implementation phase.