Libor latest: Tom Hayes appoints new lawyer, and he’s making good progress on crowdfunding the legal fees May 4, 2016 Tom Hayes has instructed solicitor Karen Todner to lead the next stage in his appeal, it was announced today, as he turns to crowdfunding to raise his legal fees. Hayes, a former UBS and Citigroup trader, was convicted of offences related to manipulating the Yen-linked Libor last August. He was initially sentenced to 14 years in prison, [...]
EU referendum: London will be stronger if the UK remains as a semi-detached member of the club April 7, 2016 Any freedom gained by Brexit will come at the expense of opportunity and London will bear the brunt if Britain votes to leave. London will be stronger if the UK remains as a semi-detached but full member of the club, as negotiated by Prime Minister David Cameron in his reform deal. London has flourished by being [...]
Sepp Blatter: You cannot buy a World Cup and I have committed nothing criminal, says former Fifa boss February 20, 2016 Disgraced former Fifa president Sepp Blatter has insisted "you cannot buy a World Cup" and claimed the controversial vote to award the 2018 and 2022 tournaments to Russia and Qatar was not fixed. Fifa will elect its new president on Friday after Blatter, along with former Uefa president Michel Platini, was banned from football for [...]
FCA bans Deutsche Bank trader Michael Curtler from working in the UK over Libor March 2, 2016 A former Deutsche Bank trader has been banned from working in the UK's financial services industry following a criminal conviction for fraud in the US. Michael Curtler pleaded guilty for his role in a conspiracy to manipulate Deutsche Bank's US dollar Libor submissions last October. He was the first Deutsche Bank trader charged in the [...]
EU referendum: Cabinet ministers and top Conservatives clash over immigration and security April 25, 2016 Cabinet ministers today knocked heads over key issues of immigration and security ahead of the EU referendum in June. Home secretary Theresa May said that the UK needs to "stand tall and lead in Europe" rather than leaving the EU, the home secretary has said. In her first speech ahead of the referendum in June, May said that [...]
Mark Zuckerberg’s book club: These are the 15 books you need to read to catch up over the summer August 9, 2015 Mark Zuckerberg is more than half way through his ambitious goal of reading a book every two weeks – a new years challenge he set himself at the start of 2015 – and they're quickly piling up. Keeping up with his accompanying book club on Facebook may not have been at the top of everyone's [...]
FCA launches probe over alleged bond market rigging by trader at Lloyds Banking Group January 6, 2016 The City’s watchdog has launched a probe into whether the UK government bond market was manipulated by a trader at Lloyds Banking Group. The Financial Conduct Authority (FCA) is looking into whether at least one Lloyds trader sought to increase profits by driving down the price of the bonds or by inflating their prices when [...]
How much do barristers earn? Much less than you’d think if they’re working on Crown Court legal aid cases December 17, 2015 Barristers working on certain legal aid cases could find themselves pocketing less than the average wage and far less than their similarly educated peers in other professions, the Bar Council warned today. The remarks are based on a report released today from the Ministry of Justice about junior barristers' wages, which discovered the lawyers working regularly on [...]
Tens of thousands of bankers could be sent to jail or face limitless fines under tough new regulations being put in place today March 7, 2016 Tens of thousands of City bankers could face seven years in jail or a limitless fine under new regulation being put in place today. From today, senior managers in British banks, building societies or so-called systemically important investment firms will be held criminally liable for a range of offences, including taking a decision which causes [...]
Panama Papers: Indiscriminate attacks on offshore centres fail to recognise how essential they are April 6, 2016 Indignation and outrage. This has been the default response from people across the world to the allegations made in the so-called Panama Papers. I am not surprised. The claims made following analysis of the 11.5m leaked documents from the Panamanian law firm Mossack Fonseca suggest that it might have been allowing its wealthy international clientele [...]