Ex-Legal & General worker to plead guilty on insider trading January 16, 2013 A FORMER trader at Legal & General Investment Management charged under the Financial Service Authority’s (FSA) high profile Operation Tabernula investigation yesterday told magistrates he intended to plead guilty to one count of insider trading. Paul Milsom, who traded equities at the investment arm of the insurer, told Westminster Magistrates Court that he would enter [...]
Tullett Prebon loses claim of staff poaching by rival BGC January 14, 2013 UK BROKERAGE giant Tullett Prebon yesterday lost a $16m (£9.9m) damages claim against rival US firm BGC Partners concerning an alleged raid on members of its workforce by BGC in 2011. The US financial watchdog Finra kicked out the damages claim by Tullett against BGC’s subsidiary BGC Financial over nine brokers it claims were poached [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 12, 2012 FINANCIAL TIMES Posen in parting shot at King An outgoing member of the Bank of England’s Monetary Policy Committee has challenged the governor Sir Mervyn King for his insistence that central banks should buy only government bonds in quantitative easing programmes to stimulate growth. G20 plans response to rising food prices G20 countries are to [...]
Dedicated Federer of fashion February 27, 2013 THERE IS a problem. It is 8am in Dubai and a freak storm has descended over the improbable desert city. Where there should – statistically, at least – be clear, azure skies, there is a mulch of saggy grey cloud. This is a problem because I was supposed to be boarding a helicopter to Roger [...]
SFO continues Tchenguiz case despite latest blow July 31, 2012 THE SERIOUS Fraud Office (SFO) said yesterday it will not back down in its pursuit of property tycoon Robert Tchenguiz despite facing further embarrassment over its most high-profile case. Search warrants used to raid the houses and offices of Tchenguiz and his brother Vincent in 2011 were deemed unlawful by the High Court, which ruled [...]
Spain’s ruling politicians call 24 witnesses to testify over Bankia July 10, 2012 SPAIN’S ruling People’s Party has asked 24 politicians and former Bankia executives including ex-chairman Rodrigo Rato to appear before parliament this month to explain problems leading up to the troubled lender’s state rescue. Bankia is at the heart of a crisis that could push Spain to ask for a bailout. It has asked for a [...]
Subway fights VAT in court June 24, 2012 SUBWAY is set to take its battle over the chancellor’s controversial pasty tax to the High Court next month in what could lead to a further embarrassing blow to the Treasury’s efforts to clamp down on VAT loopholes. More than 100 Subway franchisees are appealing against a court ruling in 2010 against the sandwich chain, [...]
Cable refers HBOS to FSA June 28, 2012 BUSINESS secretary Vince Cable yesterday threatened HBOS with a regulatory probe relating to the bank’s role in the collapse of Christmas savings firm Farepak. Cable said he would refer HBOS to the Financial Services Authority (FSA) after a high court judge said it was the bank’s decision to extract around £10m from Farepak that pushed [...]
Subway fights for sandwich tax equality January 13, 2013 FAST food chain Subway is preparing to recommence battle with HM Revenue & Customs over the decision to charge VAT on toasted sandwiches, in a move that could reheat the furious row that surrounded last year’s pasty tax. The company has won the right to take a test case to the Court of Appeal, despite [...]
Serious Fraud Office reopening probe into Weavering Capital July 8, 2012 THE Serious Fraud Office (SFO) has reopened its criminal investigation into the collapse of Weavering Capital in 2009 – 10 months after dropping the original probe. New director David Green called for the U-turn after a high court judge found Weavering Capital’s founder Magnus Peterson liable for deceit and breach of his fiduciary duties in [...]