Search Results for: UK law
European Court of Justice: Bitcoin is a currency and exchanges are VAT-exempt
October 22nd, 2015
The European Court of Justice (ECJ) has ruled that bitcoin exchange transactions should be exempt from VAT. The ECJ ruling stated that bitcoin transactions “are exempt from VAT under the provision concerning transactions relating to currency, bank notes and ...
MiFID II – the road ahead
October 22nd, 2015
The financial Conduct Authority (FCA), the financial regulator of UK, has published a Speech by David Lawton, Director of Markets Policy and International, FCA, delivered at the FCA MiFID II Conference, London. David Lawton, Director of Markets Policy and ...
Hackers siphon off $31 million from British bank accounts
October 15th, 2015
Crime agencies from across Europe partner with the FBI to investigate and shut down the spread of Dridex banking malware. Hackers have stolen more than £20 million ($31 million) from British online bank accounts using hostile, intrusive software that ...
Facebook paid £4,327 corporation tax despite £35m staff bonuses
October 12th, 2015
Social networking firm paid average of £210,000 to staff in Britain, but overall loss in UK of £28.5m meant very little corporation tax was due Staff at Facebook’s UK arm took home an average of more than £210,000 last ...
Six Former Brokers Stand Trial Over Libor
October 7th, 2015
Court hears brokers helped convicted trader Tom Hayes rig interest rate benchmarks for financial gain Six former brokers with nicknames including “Lord Libor” and “Big Nose” helped convicted bank trader Tom Hayes rig interest-rate benchmarks for financial gain, a London court ...
Volkswagen tells German parliament 8M cars have been fitted with emissions cheat device in EU alone
October 6th, 2015
Volkswagen has admitted that eight million cars in the European Union alone have been fitted with software to cheat emissions tests. The carmaker sent a letter to German parliament members on 2 October, co-signed by VW’s current chief lobbyist, and former government spokesperson, ...
JPMorgan ordered to face London Whale class action in U.S.
September 30th, 2015
JPMorgan Chase & Co shareholders on Tuesday won court permission to pursue their securities fraud lawsuit against the bank over the “London Whale” trading scandal, which caused a $6.2 billion loss, as a class action. U.S. District Judge George ...
Economic modelling of Brexit implications for legal services sector
September 29th, 2015
The legal services sector would be disproportionately disadvantaged compared to the whole UK economy if the UK were to leave the European Union, according to economic analysis commissioned by the Law Society. Oxford Economics extended their industry-leading Oxford Global Economic ...
Credit Suisse to Pay $4.25 Million and Admits to Providing Deficient “Blue Sheet” Trading Data
September 29th, 2015
The Securities and Exchange Commission today charged Credit Suisse Securities (USA) LLC with submitting deficient information to the agency over a two-year period about trades done by its customers, commonly referred to as “blue sheet data.” Credit Suisse Securities ...
From ZIRP to NIRP
September 25th, 2015
The sudden end of the Fed’s ambition to raise interest rates above the zero bound, coupled with the FOMC’s minutes, which expressed concerns about emerging market economies, has got financial scribblers writing about negative interest rate policies (NIRP). Coincidentally, ...
