Search Results for: law
RMB currency of choice for multinational deals
April 22nd, 2015
A report produced by Allen & Overy has found that more than half of multinationals use the renminbi for transactions outside China. This week’s release of the Generation ¥ – RMB: the new global currency by A&O reveals that ...
New York State Superintendent of Financial Services may exclude electronic trades from FX deals
April 22nd, 2015
New York State Superintendent of Financial Services Benjamin Lawsky said evaluations of electronic trading may hold up foreign-exchange settlements for certain banks. Mr. Lawsky, speaking at a Dow Jones risk and compliance conference Tuesday, said it could take the ...
UK trader charged for manipulation contributing to 2010 flash crash
April 22nd, 2015
A high-frequency futures trader has been charged with illegally manipulating the stock market, contributing to the May 2010 “flash crash,” according to documents unsealed Tuesday. The Justice Department charged the United Kingdom’s Navinder Singh Sarao with wire fraud, 10 ...
Mauritius Welcomes Removal From Italy’s Black List
April 20th, 2015
Following the entry into force of Italy’s Stability Law 2015 and the signing of a tax information exchange agreement, Mauritius has been removed from Italy’s tax transparency black list. Specifically, the change will allow Italians to deduct expenses incurred ...
Trader Charged With Spoofing Market Loses Dismissal Bid
April 20th, 2015
The first high-speed trader charged with a method of market manipulation known as spoofing lost a bid to dismiss the case based on an argument the new law is too vague to be enforced. Michael Coscia was indicted last ...
Plus500 – Israel’s most profitable Internet company
April 20th, 2015
The online contracts for difference (CFD) company, which deals in capital market assets, has outperformed forecasts. Plus500 Ltd. (AIM: PLUS) whose share is traded at a $1.3 billion market cap, has reported partial results for the first quarter of ...
Britain’s bank tax jump threatens to push HSBC, StanChart to new home
April 20th, 2015
HSBC and Standard Chartered are looking at the viability of quitting London for a new home in Asia because a big jump in a tax on UK banks makes staying in Britain increasingly painful. Several investors told Reuters they ...
NYDFS Expects Final BitLicense ‘Very Soon’
April 17th, 2015
The New York State Department of Financial Services (NYDFS) suggests it is moving steadily toward the release of a finalized BitLicense under which digital currency businesses would be regulated in the state. Following the end of a comment period ...
BofA Investors Say Settlement Reached in Forex Class Action
April 17th, 2015
Bank of America Corp. investors say they’ve settled a lawsuit accusing the company of rigging prices in the foreign-exchange market. The investors, several pension and hedge funds, didn’t reveal how much the bank would pay in a statement Thursday ...
Baker & McKenzie and FenXun Partners receive the first approval for a Joint Operation in the China (Shanghai) Free Trade Zone
April 17th, 2015
The Joint Operation provides clients of both firms with an unprecedented platform to serve their international and PRC legal needs Baker & McKenzie and FenXun Partners today became the first international and PRC law firms to enter into a ...
