City beware: The Serious Fraud Office has got its mojo back December 3, 2015 There have been times when the performance of the Serious Fraud Office (SFO) has left many, especially those in the City, with the impression that it is not fit for the purpose for which it was designed. Critics have had no shortage of ammunition: the SFO’s history is littered with controversy, criticism and setbacks. The [...]
Regulatory fines rocket to £2.45bn as watchdogs use new powers to ramp up punishment November 30, 2015 Regulators are flexing their muscles and ramping up punishments for financial misconduct, with fines handed out to companies guilty of wrongdoing rising 271 per cent over the past two years to hit £2.45bn. The size of the average penalty has also increased by 291 per cent, from £10.8m to £42.3m, according to new data from [...]
Phil Mickelson inches from history as five-time Major winner posts three-shot lead after first round of Open Championship at Royal Troon July 14, 2016 America's Phil Mickelson admitted he felt like crying after agonisingly missing out on carding the lowest ever score in Major championship history on a bittersweet opening day of the Open Championship at Royal Troon. Five-time Major winner Mickelson, who won the Claret Jug at Muirfield in 2013, needed to hole a 15-foot putt on the [...]
FCA bans ex-trader Lee Stewart over Libor-rigging scandal July 30, 2015 The Financial Conduct Authority (FCA) has banned another former Rabobank trader over their role in the Libor rate-rigging scandal. The regulator banned Lee Stewart from the financial services industry for lacking honesty and integrity. Earlier this year Stewart pleaded guilty in the US for his role in a conspiracy to manipulate Rabobank’s US dollar Libor submissions. "Mr Stewart [...]
Heavyweight Anthony Joshua joins Andy Murray, Saul Alvarez and Steph Curry at Under Armour after signing three-year deal February 18, 2016 British heavyweight boxer Anthony Joshua has signed a three-year sponsorship deal with US sportswear brand Under Armour. Joshua, who is set for his first world title fight against American Charles Martin in April, joins a roster of athletes that also includes fellow countryman Andy Murray and American football icon Tom Brady. But it is the [...]
The UK is finally good at something, and it’s tweeting in the office October 21, 2015 Never mind that our Rugby World Cup hopes have been dashed, that shares in the UK’s FTSE 100 companies have been outperformed by those on the continent, that Britain doesn’t have as many female bosses as its European rivals. We have finally mastered something: tweeting at work. According to new research by social [...]
Syria airstrike vote 2015: Here’s how your MP voted December 3, 2015 Last night MPs voted in favour of the UK beginning airstrikes against Islamic State (Isis) with an overwhelming majority of 397 votes to 223, following a gruelling 10-hour debate in the House of Commons. The move was controversial, with huge numbers of people protesting against military intervention. Some Labour MPs claimed they were being intimidated to [...]
City Moves for 3 September 2015 | Who’s switching jobs September 2, 2015 M&G Investments Ominder Dhillon has been appointed global head of institutional distribution at the active asset management firm. He joins from Impax Asset Management, where he was managing director, global business development and client service. Dhillon has also previously held positions at Fidelity International, Scottish Widows Investment Partnership, Legg Mason and John Morrell & Co. [...]
Ex-Icap staff in court facing Libor claims April 15, 2014 THREE former brokers at Icap were in court yesterday facing allegations of conspiracy to defraud by trying to manipulate key inter-bank interest rate Libor. Danny Wilkinson, Colin Goodman and Darrell Read (left to right) are accused of working with ex-UBS and Citi trader Tom Hayes to submit false interest rates, in a bid to improve [...]
Three ex-ICAP staff in court to face fraud allegations over Libor April 14, 2014 A TRIO of former workers at interdealer broker ICAP are due in court today over claims they were involved in efforts to manipulate key interest rate benchmark Libor. Daniel Martin Wilkinson, Darrell Paul Read and Colin John Goodman face allegations of conspiracy to defraud. They are scheduled to appear at Westminster Magistrates’ Court at 10am. The Serious Fraud [...]