14th January 2019
HSBC Holdings Plc has agreed to pay $30 million to settle litigation by investors who accused 11 big banks of rigging the roughly $9 trillion government agency bond market from 2009 to 2015. The settlement with the British bank was made public late Wednesday night in the federal court in… Read More
8th January 2019
Faced with increased uncertainty in the outlook over the UK’s relationship with the EU, financial services firms have continued to relocate staff and assets away from London to Europe, in a bid to protect their clients and investors from the impact of any Brexit outcome. As of 30 November… Read More
20th December 2018
With just 100 days until Brexit, the EU’s executive cautioned that most banking, insurance and other financial firms in Britain would be cut off from the European Union if there is no divorce deal. Prime Minister Theresa May’s failure to find a deal the British parliament will approve means the… Read More
6th December 2018
The United States Department of Justice has charged four individuals with tax fraud and money laundering in connection with an alleged illegal scheme perpetrated by Mossack Fonseca, the law firm central to the Panama Papers data leak. The individuals, known to be professionals, comprised a US-based accountant, an investment… Read More
3rd December 2018
Billionaire Czech Prime Minister Andrej Babis faced renewed pressure over his business dealings on Saturday after an EU legal document said he has a conflict of interest due to links to agribusiness companies that received European funds. The document, which was seen by Reuters, could stir up political turmoil in… Read More
30th November 2018
A self-styled British trader, who conned financial experts and some of his closest friends out of millions of pounds in a nine-year investment scam, was sentenced by a London court to five years in jail on Thursday. Mark Starling, 57, pleaded guilty to fraud and operating a collective investment scheme… Read More
19th November 2018
A decade after a U.S. crackdown ended Swiss banking secrecy, rich Americans are flocking back to UBS (UBSG.S) as they look to diversify their investments in a volatile U.S. political landscape, a senior executive at the Swiss group told Reuters. “The interest has increased, for political reasons and for… Read More
9th November 2018
AP — Beyond trying to get their hands on the Holy Grail of President Donald Trump’s business dealings — his tax returns — House Democrats are prepared to use their new majority and subpoena power to go after financial records that could back up their claims… Read More
30th October 2018
A $250 million (£195 million) luxury yacht linked to a multi-billion dollar scandal at Malaysia’s state fund 1MDB has gone up for auction, a government lawyer said on Monday, the first sale of a major asset seized by investigating authorities. The Equanimity is among $1.7 billion in assets allegedly bought… Read More
19th September 2018
Switzerland has asked Israel to open its markets so Swiss banks can trade funds there, a senior Finance Ministry official said. Israel allows European Union banks market access, but not Switzerland as it is not an EU country and has different regulations from countries inside the bloc. “We need… Read More