04/18/2012

Hedge fund chief faces FSA fine

In the case of two companies, the purchases accounted for more than 80 per cent of that day’s total volume in those shares.

04/18/2012

UBS Unit Will Cooperate With French Tax-Evasion Investigation

Paris prosecutors opened a formal investigation April 12, after conducting a preliminary inquiry with the customs service into a complaint by France’s Prudential Control Authority in February 2011 over the bank’s practices in France.

04/17/2012

Belgium Opens Way For Sanctions of Fortis Officials

The decision to pass the case to the sanctions committee, which is composed mainly of independent magistrates, means the FSMA considers that there is enough evidence to take the case forward and that there will be no settlement with the parties involved.

04/16/2012

Barclays rocked by new claim of swaps mis-selling

The Bays allege that Barclays sold them a 20-year "interest rate enhanced collar" in September 2008 that immediately began to cost them thousands of pounds every quarter as interest rates were cut to historic lows in the wake of the financial cr

04/16/2012

French magistrate to examine UBS charges

An independent French magistrate has been named to examine the commercial practices of Swiss bank UBS AG, financial daily Les Echos reported on Monday.

04/12/2012

Top Swiss bank fends off lawsuit of billionaire US tax evader

Olenicoff sued UBS in 2008, accusing the bank of fraud, conspiracy and other charges in handling some US$200mil he kept in offshore accounts and claiming that UBS had wrongfully advised him that he did not have to report them to the IRS.