Former HSBC currency trader wins appeal against U.S. extradition
1st August 2018
Former HSBC currency trader wins appeal against U.S. extradition
A former HSBC (HSBA.L) executive has won a British court battle against the U.S. government over his extradition, according to the judge’s ruling published on Tuesday. The United States had wanted to extradite Stuart Scott, HSBC’s former head of cash trading for Europe, the Middle East and Africa, to face… Read More
HSBC account freezes still hurting customers, a year on
24th July 2018
HSBC account freezes still hurting customers, a year on
After a year laying the groundwork for his Karachi-based clothing company’s expansion to Europe, businessman Abdul Aziz was poised to start delivery to British shops such as TK MAXX. That was before HSBC (HSBA.L) froze his corporate account around August 10 last year, catching Aziz up along with scores of… Read More
India’s capital market regulator proposes tighter rules for auditors, valuers
16th July 2018
India’s capital market regulator proposes tighter rules for auditors, valuers
India’s capital market regulator has proposed amendments to tighten laws governing auditors and other third-party individuals hired by listed companies for auditing financial results, among other things. The Kotak Committee, formed to come up with proposals for improving corporate governance, last year recommended that the Securities and Exchange Board of… Read More
Appeals court backs $10B Volkswagen emissions cheating deal
11th July 2018
Appeals court backs $10B Volkswagen emissions cheating deal
AP — A U.S. appeals court on Monday approved a $10 billion settlement between Volkswagen and car owners caught up in the company’s emissions cheating scandal. The deal delivered “tangible, substantial benefits” and the federal judge who approved it did more than enough to ensure it was… Read More
Chinese firms operating overseas should boost compliance management – state planner
10th July 2018
Chinese firms operating overseas should boost compliance management – state planner
China’s state planner issued draft guidelines on Thursday ordering Chinese firms operating overseas to set up compliance departments to strengthen compliance management and fend off outbound investment risks. Chinese companies operating overseas should comply with other countries’ laws and regulations, and pay attention to trade controls or investigations including anti-dumping… Read More
Iran calls for EU help as shipping giant pulls out for fear of U.S. sanctions
9th July 2018
Iran calls for EU help as shipping giant pulls out for fear of U.S. sanctions
One of the world’s biggest cargo shippers announced on Saturday it was pulling out of Iran for fear of becoming entangled in U.S. sanctions, and President Hassan Rouhani demanded that European countries to do more to offset the U.S. measures. The announcement by France’s CMA CGM that it was quitting… Read More
London court chides FCA as it rejects former UBS trader’s appeal
22nd June 2018
London court chides FCA as it rejects former UBS trader’s appeal
A London court on Wednesday described as “troubling” a case brought by the Financial Conduct Authority (FCA) against a former junior UBS (UBSG.S) trader for alleged Libor interest rate rigging. The Upper Tribunal, a court that hears challenges against FCA decisions, dismissed an appeal against a ban from financial services… Read More
Merrill Lynch fined $42 million for misleading customers
21st June 2018
Merrill Lynch fined $42 million for misleading customers
Merrill Lynch has agreed to pay a $42 million penalty over charges it falsely informed customers that it had executed millions of orders internally when it actually had routed them for execution at other broker-dealers. According to the Securities and Exchange Commission (SEC), Merrill Lynch’s process – which it dubbed… Read More
Professional fraudsters arrested over bogus shops and EUR8 million scam
21st June 2018
Professional fraudsters arrested over bogus shops and EUR8 million scam
Police have nabbed scores of individuals they believe are partly responsible for over 20,000 fraudulent transactions worth over EUR8 million. The fraud was conducted by professional fraudsters, skilled in e-commerce fraud, who set up fake online shops and bought and sold credit card data on the dark web, said Europol. Read More
EU extends sanctions on business in Crimean peninsula
20th June 2018
EU extends sanctions on business in Crimean peninsula
The EU has extended a ban on firms doing business with Crimea or Sevastopol, saying it remains “firmly committed to Ukraine’s sovereignty” after the region was annexed by Russia four years ago. The sanctions, which were extended to 23 June 2019 and apply to EU citizens and EU-based firms, include… Read More
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