7th August 2019
Swiss federal prosecutors have filed fraud charges against three former senior German soccer officials and one Swiss over a suspect payment linked to the 2006 World Cup hosted by Germany, the Swiss Attorney General’s office said on Tuesday. The indictment alleges former German Football Association (DFB) presidents Theo Zwanziger and… Read More
6th August 2019
An Austrian administrative court has rejected Raiffeisen Bank International’s challenge against a 2.75 million euro ($3.1 million) fine over insufficient anti-money-laundering checks, the bank said on Monday. Austria’s Financial Market Authority imposed the fine last year here over a breach of RBI’s due diligence requirements for the prevention of… Read More
31st July 2019
The Brexit deadline is just five weeks away, and new Prime Minister Boris Johnson and the EU are already in a stalemate, as neither wants to budge to meet the other. This could result in a no-deal Brexit, and today Michael Gove is chairing the first daily meeting of the… Read More
26th July 2019
Direct access for Britain’s financial sector to the European Union after Brexit is increasingly under threat as political will for an industry deal fades and the bloc toughens requirements for recognizing other countries’ financial rules. The EU is the City’s biggest customer, with financial services exports worth 26 billion pounds… Read More
24th July 2019
Former foreign minister Boris Johnson was elected leader of Britain’s governing Conservative Party on Tuesday, and will take over as prime minister when Theresa May steps down on Wednesday. With the leadership campaign largely dominated by Brexit, Johnson has set out little in the way of firm policies, but below… Read More
22nd July 2019
Britain has kicked off a review of how regulation of finance could be improved after Brexit, saying it would not tweak the existing set-up of watchdogs introduced in the aftermath of the financial crisis a decade ago. The European Union has been the source of financial rules in Britain for… Read More
15th July 2019
A new UK plan to tackle economic crime would fail to hold companies sufficiently liable for illicit activity beyond bribery and tax evasion, anti-corruption campaigners told the Financial Times. Under current laws, British firms can only be deemed guilty of other financial crimes if the “directing mind”—a senior manager… Read More
12th July 2019
British banks hold enough capital to cope with a no-deal Brexit and a global trade war simultaneously, the Bank of England said on Thursday, although a disruptive Brexit would still cause major turbulence for financial markets and the economy. Bank of England Governor Mark Carney also flagged ongoing concerns about… Read More
10th July 2019
Plans to introduce laws in Britain to combat money laundering could prevent the media and researchers from accessing vital information on the tide of dirty cash flowing around the world, campaigners and journalists have warned. An open letter to the foreign secretary, Jeremy Hunt, has about 80 signatories including the… Read More
5th July 2019
The British Virgin Islands is home to more than 400,000 companies that hold $1.5 trillion in assets. You wouldn’t know it if you walked through Road Town, the capital of this Caribbean archipelago. Hens and roosters compete brazenly… Read More