Featured France

French prosecutors lay out allegations against former IAAF chief Diack

French prosecutors have described a web of corruption once rife in world athletics, including bribes paid to cover up athletes’ positive drugs tests, in an indictment recommending that Lamine Diack, the Senegalese former head of the IAAF, and his son stand trial. The indictment handed to judges by France’s financial… Read More

EU-Iran trade vehicle unlikely to meet anti-money-laundering norms: U.S.

The United States said on Tuesday that European powers are unlikely to live up to a pledge to prevent their conduit for trade with Iran being used to launder money or finance terrorism, raising the prospect of further U.S. sanctions. France, Britain and Germany have set up the special purpose… Read More

France suggests sanctions could be reimposed if Iran reneges on deal

International sanctions could be reimposed on Iran if it reneges on commitments under its nuclear deal, sources at the French presidency said on Tuesday, after Tehran said it would scale back its compliance a year after Washington pulled out. The U.S. military said on Tuesday that B-52 bombers would be… Read More
3rd May 2019
UBS Group shareholders refused on Thursday to endorse the performance of the Swiss bank’s leadership last year in a rare rebuke sparked by a French conviction for helping wealthy clients evade taxes. Formal discharge of liability for board directors and senior management, typically a formality, won only 41.7 percent support… Read More
2nd May 2019
Two of Europe’s largest banks on Tuesday blamed Russian money laundering scandals for their lackluster performances in the first quarter of 2019, and promised to do more to prevent compliance lapses going forward. Helsinki-based Nordea Bank said in its Q1 results that it had set aside €95 million to account… Read More
18th April 2019
The uncle of Syrian President Bashar al-Assad will stand trial in France for allegedly acquiring millions of euros worth of French property assets using funds diverted from the Syrian state, a judicial source said on Wednesday. Rifaat al-Assad is a former military commander, widely held responsible for crushing an Islamist… Read More
16th April 2019
France will push for the European Union to adopt a regulatory framework on cryptocurrencies similar to the one it brought in last week at a national level, becoming the first major country to do so, French Finance Minister Bruno Le Maire said on Monday. The French parliament last week approved… Read More
16th April 2019
UBS shareholders should oppose discharging the board and top management of Switzerland’s biggest bank from liability after a guilty verdict in a French tax evasion case, proxy adviser Institutional Shareholder Services (ISS) said. “A vote against the formal discharge of the board of directors and senior management is warranted on… Read More
11th April 2019
Shareholders of Swiss bank UBS Group should oppose its compensation report for 2018, proxy adviser Glass Lewis said, citing “pay-for-performance concern”. Shareholders get a non-binding vote on pay policy at the bank’s annual meeting on May 2. Glass Lewis said that while UBS had improved earnings last year, some financial… Read More
1st April 2019
BNP Paribas put its front-line businesses in charge of overseeing conduct within the bank, by embedding “chief conduct and control officers” who are responsible for spotting behavior that could put the institution at risk, according to Eric Young, chief compliance officer for the French lender’s operations in the Americas. In… Read More
29th March 2019
More than 300 “accidental Americans” in France, French citizens who hold U.S. nationality only because they were born there, filed a discrimination lawsuit on Wednesday. Many of the plaintiffs in the lawsuit did not until only recently realize they had U.S. citizenship, which makes them liable for U.S. income tax… Read More
26th March 2019
The wife of the missing Chinese former head of Interpol said she had written to French President Emmanuel Macron to ask for his help on the eve of a visit by his counterpart . Grace Meng told France 24 she had not heard from her husband Meng Hongwei since he… Read More
22nd March 2019
A French judge placed Russian tycoon Suleiman Kerimov back under formal investigation on suspicion of complicity in aggravated tax fraud, the prosecutor in the southern city of Nice said on Wednesday. French investigators allege that Kerimov, whose family controls Russia’s largest gold producer Polyus, deceived the tax man over the… Read More