Search Results for: banks
Citigroup says being investigated in Germany over dividend trades
March 23rd, 2016
Citigroup (C.N) is being investigated by German tax authorities over an equity trading strategy known as “cum-ex” or “dividend stripping,” the U.S. bank said on Tuesday. Dividend stripping involves buying a stock just before its dividend rights expire, then ...
HMRC Welcomes Bank Bonus Tax Scheme Ruling
March 22nd, 2016
HM Revenue and Customs (HMRC) has welcomed a court ruling against a major tax avoidance scheme used by banking giants UBS and Deutsche Bank, in which the agency successfully argued that the scheme had been designed to avoid around ...
Deloitte Predicts Rise in Blockchain-Based Payments
March 22nd, 2016
Deloitte’s Center for Financial Services has released a report forecasting transformation of the banking industry over the coming decade due to disruptive technology. The Banking Industry Outlookreport estimates that blockchain-based payment systems could equal the volume of the United States’ Automated Clearing ...
Goldman-1MDB Probe Zeroes In on Bond Deals
March 22nd, 2016
Investigation focuses on whether Wall Street firm misled investors when it sold securities issued by Malaysian fund U.S. authorities are investigating whether Goldman Sachs Group Inc. misled bondholders when the firm sold securities issued by a Malaysian government-investment fund that is at ...
Sachs probed in alleged Treasury rigging
March 21st, 2016
Washington’s probe into the alleged rigging of the $13 trillion US Treasurys market by Wall Street banks has narrowed its focus to a handful of firms — including Goldman Sachs, The Post has learned. In addition, European authorities have ...
What would ‘Brexit’ mean for Europe’s capital markets? Clifford Chance report analyses the legal and regulatory challenges
March 21st, 2016
AFME has today published a report, commissioned from Clifford Chance, which analyses the potential impact of a UK exit from the EU on Europe’s capital markets. The report, entitled “The UK Referendum: Challenges for Europe’s Capital Markets”, was written ...
Egypt is weighing tougher regulations on foreign-exchange dealers
March 21st, 2016
Authorities targeting black market to end dollar shortage Central bank devalued the pound and raised rates last week Egypt’s central bank is weighing tougher regulations on foreign-exchange dealers, part of a broader effort to crack down on the black ...
Investors trust the media more than robo-advice, survey finds
March 21st, 2016
More investors trust the media on investment than robo-advice services despite the rising numbers of start-ups and established companies entering the online space, according to Legg Mason’s 2016 Global Investment Study. The survey was completed by 5,370 high-net worth ...
The ECB and John Law
March 21st, 2016
Last week, the ECB extended its monetary madness, pushing deposit rates further into negative figures. It is extending quantitative easing from sovereign debt into non-financial investment grade bonds, while increasing the pace of acquisition to €80bn per month. The ...
Chinese Brokerages Rally on Revived Support for Margin Trading
March 21st, 2016
State finance agency to resume offering shorter-dated loans Everbright Securities among firms that jumped by daily limit Chinese brokerages rallied after policy makers loosened controls on margin lending, which helped fuel last year’s stock-market boom. Everbright Securities Co. was ...
