Search Results for: UK law
Standard Chartered Bank fined for poor AML controls
April 25th, 2019
The Financial Conduct Authority (FCA) has fined Standard Chartered Bank (Standard Chartered) £102,163,200 for Anti-Money Laundering (AML) breaches in two higher risk areas of its business. This is the second largest financial penalty for AML controls failings ever imposed ...
Wrong handling of user data may cost up to $5B for Facebook
April 25th, 2019
Facebook said Wednesday it expects to shell out between $3 billion and $5 billion to settle the FTC’s ongoing investigation into its handling of user data, foreshadowing a potentially massive penalty from the nation’s top consumer protection agency. The ...
China promises companies ‘we will keep your secrets’
March 14th, 2019
China’s promise strengthens lukewarm drafting with a new foreign investment law due to be passed later this week. However, companies will have to wait as the updated foreign investment law is not due to come into effect until January ...
Gold prices edged up on Monday as the dollar eased
February 25th, 2019
Gold prices edged up on Monday as the dollar eased after U.S. President Donald Trump said he would delay an increase in tariffs on Chinese goods as trade talks between the two nations were making progress, while palladium hit ...
Why has the European Commission not investigated Lux Leaks tax deals?
February 18th, 2019
Almost five years ago, the International Consortium of Investigative Journalists published its Lux Leaks investigation, exposing how some of the world’s largest corporations cycled billions of dollars through Luxembourg so as to avoid paying huge amounts of tax — ...
Pound rises after three weeks of losses
February 18th, 2019
Sterling drifted higher on Monday after registering three consecutive weeks of losses as investors waited for the outcome of Brexit talks between Britain and the European Union. British Prime Minister Theresa May plans to speak to every EU leader ...
Sterling resilient as Britain pursues Brexit deal change
January 31st, 2019
Sterling recovered on Wednesday after declines triggered by the UK parliament’s rejection of amendments to delay Brexit, as investors bet the government would still avoid exiting the European Union without an agreed divorce deal in place. Growing expectations that ...
Weak euro lifts dollar, pound zooms on talk of second Brexit vote
January 18th, 2019
The U.S. dollar rose on Thursday against a euro dragged lower by soft economic data, while the pound took off on hopes of a second referendum on Britain’s membership in the European Union. Against the euro, the dollar strengthened ...
Dollar pauses, pound steadies after May wins no-confidence vote
January 17th, 2019
The dollar took a breather on Thursday following its recent strong gains against key rivals, while sterling steadied after British Prime Minister Theresa May’s government won a no-confidence vote in parliament. The dollar index, which measures the greenback against ...
The Tragedy Of The Euro
January 11th, 2019
After two decades, the euro’s minders look set to drive the Eurozone into deep trouble. December was the last month of the ECB’s monthly purchases of government debt. A softening global economy will increase government deficits unexpectedly. The ...
