Interdealer brokers, the financial institutions that act as go betweens in transactions between major investment banks, could be the next companies to face regulatory scrutiny over Libor manipulation, according to experts.
Tom Hayes, the British former UBS trader charged in the US with rate-rigging, made arrangements to transfer £50,000-worth of shares in a tech start-up into his wife’s name as the Libor allegations emerged, it can be revealed.
The budget minister is at risk of losing his portfolio in an imminent shake-up, newspapers Le Parisien and Le Journal du Dimanche both reported on Sunday, citing unidentified government sources.
Under FATCA, non-US financial institutions will be required to report information about financial accounts held by US taxpayers, or held by foreign entities in which US taxpayers hold a substantial ownership interest.
France unveiled a long-awaited bank reform, hailing it as a model for the rest of Europe even as critics said it fell short of President Francois Hollande's campaign pledge to get tough with the financial sector.
The overhaul, to be announced on Wednesday, will ultimately hit only a sliver of banks' profit, according to a leaked draft of the bill.
The merger will increase the fund's holdings of central London and South East offices, retail warehouses and South East industrial property, and its client base by 64 investors.