In the past year, the number of people taking bridging loans has nearly doubled, with estimates suggesting gross lending breached the £1bn barrier in March this year.
The €65,000 penalty handed out to the Swiss bank’s unit is part of Ireland’s broader effort to strengthen oversight of the banking sector after the financial collapse that forced the country to seek a €67.5bn bailout from the EU and
'The sequence of events, the increase of the levy from £20 million to £45 million, originated form the Thoresen Review, that we needed generic financial advice, and then a set of decisions from government that showed it did not want to pa
UBS has confirmed that Sheikh Meshal was invited to apply for a non-executive post at the bank. However, the bank has also claimed that it already had a strong relationship with Zain, having advised on many of its previous deals.
Mr X, as the person has been referred to by tribunal, denied he owned an account with the UK-based UBS Wealth Management, called Customer A account, used by some UBS officials to make large-scale unauthorised transactions.
The FSA has published its annual report for 2011/12, which sets out how the regulator has performed against its business plan for the year. It also sets out salary and benefits paid to FSA senior management.
This is as a result of growing demand for both its international legal services and the fiduciary and fund administration services provided by its affiliate, MaplesFS, it said.
Liechtenstein, a country known for its banking secrecy laws, recently agreed to allow its second largest bank, Liechtensteinische Landesbank AG, to turn over U.S. client data to the Internal Revenue Service (IRS) and the U.S. Department of Justice (DOJ).
Last week, finance minister George Osborne said the government will introduce legislation as soon as possible to push ahead with the ring-fencing idea, designed to ward off the risk of future massive taxpayer bailouts of banks.