‘Bond market tantrum risks’: Gilt traders brace for Labour leftward pivot as Starmer future uncertain
M&A: Willis Towers Watson merger believed to be able to survive inversion rule changes unscathed April 10, 2016 The announced changes to the US inversion rules will not turn one of the insurance industry's most high-profile mergers on its head, the firm involved announced late last week. Willis Towers Watson, which was formed out of the successful merger of Towers Watson and Willis Group Holdings in January, issued a statement remarking that it did [...]
Panama Papers scandal: Mossack Fonseca says it is still waiting for a call from the taxman April 10, 2016 Ramon Fonseca, the founding partner of the law firm at the centre of the Panama Papers scandal, is showing the world that you're never too well known to find yourself sat by the phone, waiting for it to ring. The founding partner of Mossack Fonseca said in an interview on Saturday that his firm is still yet to [...]
Now Nicola Sturgeon has published her tax return for 2014/15 April 10, 2016 Scottish National Party (SNP) leader Nicola Sturgeon has become the latest politician to lay out her tax return for all to see, after the Panama Papers scandal called into question the tax dealings of numerous high-profile individuals. Sturgeon's tax return for tax year 2014/15, which was posted up on the SNP's website today, reveals that the [...]
Legislation is now too long for parliament to read properly, and it’s threatening the status of the rule of law April 8, 2016 A fundamental principle of law could be under threat because of the increasing length of new legislation. A report out today by the Centre for Policy Studies (CPS) warns that the number of clauses in new legislation has doubled since the 1960s, putting the rule of law – essentially the idea that nobody is above the law [...]
Libor scandal: Top bosses must have known about rate rigging, alleges former Barclays trader April 7, 2016 A former Barclays banker who is currently standing trial accused of offences related to manipulating Libor has alleged that his bosses must have known about the rate-rigging scandal, a court was told today. Former Barclays traders Stylianos Contogoulas, Jay Merchant, Alex Pabon and Ryan Reich, along with one of Barclays' former Libor submitters Jonathan Mathew, [...]
City watchdog reminds firms managing funds to watch their language in customer communications April 7, 2016 Firms managing funds must be careful to make sure their product descriptions are clear and free of jargon, the results of a review published today show. The review by the Financial Conduct Authority (FCA) found that, while the majority of the firms it studied in its sample were investing in line with the strategy they [...]
UK financial services watchdog gives firms until next week to carry out their reviews into the Panama Papers April 7, 2016 The UK's financial services watchdog has given firms until next week to scrabble through their back offices and find out if they can be linked to Mossack Fonseca, the law firm at the centre of the Panama Papers scandal. The Financial Conduct Authority (FCA) confirmed to City A.M. today that it had sent a letter to [...]
Cyber security professionals are a big deal in Asia Pacific with strong technology skills in hot demand April 7, 2016 Those who cite computing as their main hobby may not have been very popular back in their schoolyard days, but early indicators show they're set to become practically rock stars in one part of the world this year. Demand for professionals skilled in fintech, digital and cyber security has helped bolster a strong job market in Asia Pacific [...]
Panama Papers prompt US Treasury Department to speed up rule change of bank treatment of company ownership April 7, 2016 The leak of more than 11m files from a Panama-headquartered law firm which implicated various household names in offshore tax dealings has prompted the US government to hurry through a rule change on how banks treat company ownership, it was revealed early this morning. On Sunday, the International Consortium of Investigative Journalists (ICIJ) published its Panama Papers report [...]
