Search Results for: ESMA
PricewaterhouseCoopers accused of conflict of interest in development role
March 21st, 2016
Diane Abbott is furious that PwC is working on a DfID scheme called the Investment Facility for Utilising UK Specialist Expertise Big Four accountant PricewaterhouseCoopers has been accused of “a very serious conflict of interest” in its role as an ...
Barclays accused of ditching clients born in countries considered high-risk for money laundering
March 18th, 2016
Barclays has been accused of ditching clients who were born in countries that are classified as high-risk after it was pulled up by the Financial Conduct Authority in November for failing to do due diligence and proper financial crime ...
Shareholders of J.P. Morgan and Citigroup will vote about the potential the banks break up into smaller pieces
March 17th, 2016
The proposal will be included in the banks’ proxy filings at the request of a shareholder activist Shareholders of J.P. Morgan Chase & Co. and Citigroup Inc. will get to vote later this year on one of the most ...
Credit Suisse Accused of Money Laundering by Billionaire
March 17th, 2016
Former Georgian PM alleges bank failed to control ex-manager Geneva criminal complaint is latest to target the Zurich bank Lawyers for Georgia’s billionaire former prime minister Bidzina Ivanishvili accused Credit Suisse Group AG of money laundering as they step ...
Barclays sued by former boss of Tullett Prebon Terry Smith
March 17th, 2016
Terry Smith, the former boss at Tullett Prebon who is now the chief executive of Fundsmith, a fund management company, is the latest to sue Barclays. Smith claims that the British bank failed to transfer his money amounting to ...
Mizuho to face U.S. lawsuit over Mt Gox bitcoin losses
March 16th, 2016
A U.S. lawsuit accusing Japan’s Mizuho Bank of concealing problems at the now-bankrupt Tokyo-based Mt Gox bitcoin exchange can move forward, a federal judge in Chicago has ruled. U.S. District Judge Gary Feinerman rejected on Monday the bank’s argument ...
Volkswagen Sued for $3.7 Billion in Germany Over Diesel Scandal
March 15th, 2016
Law firm filed case on behalf of 278 institutional investors Lawsuit argues VW disclosures to investors came too slowly Volkswagen AG is being sued for 3.3 billion euros ($3.7 billion) over the cover-up of its polluting diesel engines, its ...
MiFID II deadline extended to January 2018
March 11th, 2016
The extension is to take account of the exceptional technical implementation challenges faced by regulators and market participants. The European Commission has proposed granting national competent authorities and market participants one additional year to comply with the rules ...
ESAs publish final draft technical standards on margin requirements for non-centrally cleared derivatives
March 10th, 2016
The European Supervisory Authorities (EBA, EIOPA, ESMA – ESAs) published today the final draft Regulatory Technical Standards (RTS) outlining the framework of the European Market Infrastructure Regulation (EMIR). These RTS cover the risk mitigation techniques related to the exchange ...
Deutsche Bank and UBS lose bonus tax case
March 10th, 2016
The UK Supreme Court has ruled Deutsche Bank and UBS should pay taxes on bonuses paid to their investment bankers. The bonuses were paid to staff via offshore accounts in the form of shares to avoid attracting income tax ...
