LONDON, March 24 (Reuters) – Financial crime has replaced
rapid house price growth on the watch list of Britain’s markets
regulator after a series of scandals that have shaken public
faith in the finance industry.
The Financial Conduct Authority (FCA) announced on Tuesday
seven key risk areas as part of its 2015-16 business plan, with
financial crime added to the list and house price growth –
which has cooled in recent months — dropped since last year.
LONDON, March 19 (Reuters) – A former trader at U.S. hedge
fund Moore Capital was sentenced to 19 months in jail by a
London court on Thursday after becoming the third man to plead
guilty in Britain’s largest insider dealing investigation.
Julian Rifat, dubbed “the face of Moore Capital” by
investigators, is one of the most high-profile professionals
charged in connection with an eight-year inquiry codenamed
Operation Tabernula — the latin word for tavern.
LONDON (Reuters) – A former trader at Dutch lender Rabobank [RABN.UL] has become the first to be banned from Britain’s financial services industry for Libor interest rate rigging after he was convicted in the United States.
The Financial Conduct Authority (FCA) said on Tuesday that Paul Robson, a Briton who last year pleaded guilty to being part of a scheme to manipulate Rabobank’s yen-denominated Libor rates, lacked honesty and integrity.
LONDON, March 5 (Reuters) – British fraud prosecutors expect
a speedy investigation into the possible rigging of efforts to
support the financial system during the credit crunch after they
moved to start a formal inquiry, a source familiar with the
The Serious Fraud Office has said it is looking into
liquidity auctions held by the Bank of England in 2007 and 2008
– which aimed to help banks to weather the onset of the
financial crisis — after receiving material from an inquiry
commissioned by the central bank.
LONDON, Feb 12 (Reuters) – Britain’s Serious Fraud Office
(SFO) has secured a key corporate conviction for foreign bribery
after a London court sentenced the chairman and marketing
director of a UK printing company for bribing public officials
in Kenya and Mauritania.
Judge David Higgins on Thursday sentenced Christopher Smith,
the 72-year-old chairman of Smith and Ouzman, to an 18-month
suspended sentence and sales and marketing director Nicholas
Smith, 43, was handed a three-year jail sentence.
LONDON, Feb 12 (Reuters) – British lawmakers plan to call up
the bosses of HSBC and the tax authority, HMRC, to quiz
them over allegations some clients of HSBC’s Swiss private bank
HSBC Chairman Douglas Flint and HMRC Chief Executive Lin
Homer are expected to appear on Feb. 25 before the Treasury
Committee of lawmakers, who watch over the financial industry.
The Committee said on Thursday details of the hearing had not
LONDON, Jan 28 (Reuters) – British prosecutors are
investigating whether subsidiaries of Alstom, the
French power and transport company at the centre of an
international corruption inquiry, committed offences in Hungary,
a London court heard on Wednesday.
The Serious Fraud Office (SFO) has already charged two
UK-based Alstom subsidiaries and four former employees with
corruption, alleging they disguised bribes as consultant fees to
win lucrative contracts in India, Poland, Tunisia and Lithuania.
LONDON, Jan 27 (Reuters) – Around two million Britons who
may have been mis-sold insurance to cover events such as credit
card fraud will be asked to vote for a scheme that could cost
top banks hundreds of millions of pounds in compensation.
The scheme, which affects security products on credit and
debit cards over an eight-year period, comes after banks have
already set aside more than 24 billion pounds ($36 billion) to
compensate customers mis-sold loan and mortgage insurance.
LONDON, Jan 23 (Reuters) – Two mining companies in a spat
over a Brazilian iron ore project are set to battle it out in a
London court in early 2016.
A London high court judge on Friday set a trial date of late
January next year for the case, which pits Kazakhstan’s Eurasian
Natural Resources Company (ENRC) against former joint venture
partner in the project, Indian tycoon Pramod Agarwal’s Zamin
LONDON, Jan 22 (Reuters) – Britain’s financial regulator has
fined and banned the former chief executive and compliance chief
of UK brokerage RP Martin for “compliance and cultural failings”
that it said permitted the alleged manipulation of Libor
benchmark interest rates.
In its first fine on individuals for failings related to a
sprawling, global investigation, the Financial Conduct Authority
(FCA) on Thursday fined former chief executive David Caplin
210,000 pounds ($319,000) and former compliance officer Jeremy
Kraft 105,000 pounds.