City watchdog doubled dawn raids last year March 17, 2014 DAWN raids on suspects in frauds and other finance crime cases have almost doubled in the last 12 months, according to a new analysis of the Financial Conduct Authority’s (FCA) actions. The City watchdog carried out 20 such raids in 2013, according to law firm RPC, up from 11 in 2012. The jump in searches [...]
EU red tape cost £1.3bn last year March 3, 2014 NEW REGULATION stemming from the EU added £1.3bn in annual costs to business and civil society in the UK during 2013, while European reductions in regulation cut annual cost by only £2.5m. According to the annual report of the Regulatory Policy Committee (RPC), deregulation savings enacted nationally in 2013 amounted to £274m per year, against new [...]
City Moves for 18 February 2014 | Who’s switching jobs February 17, 2014 Morrison & Foerster The law firm has announced the appointment of Philip Slater as a partner in its financial transactions group. He joins from Reed Smith, where he led its acquisition and leveraged finance practice in London. Prior to that, Slater was a partner at Addleshaw Goddard. Santander Corporate & Commercial Charles Garfit has been appointed head [...]
UK trade mark disputes climb as firms fight to protect brands January 6, 2014 UK COURTS have become a key battleground in the increasing number of trade mark disputes happening around the world, according to a report from law firm RPC. High Court cases involving trade marks climbed from 88 to 114 in the last year. The leap has been linked to the rise of e-commerce and the desire [...]
DWP pensions cap plan in doubt December 18, 2013 The government’s plans to cap pension management fees by next April have been dealt a blow, after The Regulatory Policy Committee deemed the impact assesment “not fit for purpose.” The cap, which would apply to those who are auto-enrolled into a scheme, was expected to be set at 0.75 per cent. The RPC said the [...]
City Moves for 17 December 2013 | Who’s switching jobs December 16, 2013 Conning Asset Management The investment management company has appointed Ben Hamilton as a portfolio manager in its London team. He was previously an assistant investment manager and research analyst for fixed income and multi-asset funds at Premier Asset Management. State Street Global Advisors State Street’s asset management business has appointed Mark Fortier as managing director, [...]
City Moves for 16 December 2013 | Who’s switching jobs December 15, 2013 Fladgate The law firm has made two appointments. Ian Brent (right) joins as a corporate partner. He was previously head of corporate at Davies Arnold Cooper and head of London corporate at Halliwells. Melissa Needham joins as a corporate associate from DAC Beachcroft. BDO The accountancy firm has recruited Neil Williams as a director in [...]
Eurotunnel wins appeal to keep running its cross-Channel ferries December 4, 2013 EUROTUNNEL has won an appeal to keep sailing the three cross-Channel ferries it bought last year from SeaFrance. The group, which also operates the rail tunnel between France and the UK, said the Competition Appeal Tribunal’s decision “is a victory for the consumer”. The Competition Commission said over the summer that Eurotunnel should be banned [...]
London Report: Water firms to show how well profits flowing November 24, 2013 THE FTSE 100’s latest female executive, Liv Garfield, will get an idea of what she’ll face when she joins Severn Trent next year as her new employer announces interim results, along with Pennon and United Utilities. The three, who have been called on by regulators to stop planned price hikes, are expected to have increased [...]
Calls to whistleblower hotline for finance sector up 23 per cent November 18, 2013 THE number of calls to the Financial Conduct Authority’s so-called whistleblower hotline to report suspected malpractice rose 23 per cent last year. The FCA received 4,718 calls from staff at financial services firms in the year ending in August – up from 3,834 calls the year before, according to City law firm RPC. But RPC [...]