Investigation starts at Irish private bank - report 17/06/2013 An inquiry is under way within Bank of Ireland's private banking division after the bank's internal auditors started an investigation into what have been described as "possible irregularities", the Sunday Independent newspaper in Dublin reported.
Top Indian banks punished over money laundering infractions 11/06/2013 The Reserve Bank of India has imposed penalties totalling around $1.6 million on Axis Bank, HDFC Bank and ICICI Bank for violation of anti-money laundering rules, in its largest ever fines on local banks covering illicit money movements.
FCA ‘raises the regulatory bar’ with UCIS regulations - Taylor Wessing 07/06/2013 The new rules from the FCA banning the promotion of higher risk UCIS investments “raises the bar in terms of the required compliance process,” according to Jonathan Rogers, head of financial services regulation at law firm Taylor Wessing.
Swiss banks US tax resolution will be costly - Fitch 30/05/2013 A solution of the dispute between the US authorities and several Swiss private banks, which have allegedly helped US citizens evade tax, is likely to be costly for the banks involved, Fitch Ratings says, in a commentary.
Hong Kong authorities lose appeal against fund manager’s acquittal 28/05/2013 A fund manager, who faced false trading charges at the peak of the 2008 crisis, has been acquitted after a Hong Kong court accepted he was not “pumping up” the month-end net asset values of his fund.
UK regulator fines JP Morgan International Bank over wealth management failings 23/05/2013 The UK’s Financial Conduct Authority (FCA) has fined J.P. Morgan International Bank Limited (JPMIB) £3,076,200 for systems and controls failings relating to its provision of retail investment advice and portfolio investment services.
