European Financial Correspondent
Kirstin's Feed
Dec 12, 2014

UK hedge fund divorce ruling reveals Hohn charity split row

LONDON, Dec 12 (Reuters) – The acrimonious divorce of
Britain’s most generous philanthropists, hedge fund billionaire
Christopher Hohn and his estranged wife Jamie Cooper-Hohn, could
lead to a split of one of the largest private charities in the
world.

A $530 million divorce settlement awarded to Cooper-Hohn,
announced last month, is the largest in reported British legal
history. But details of the settlement have only now been
published, in a partly redacted judgment that divides available
assets put on Friday at around $1.5 billion.

Dec 8, 2014

SFO nails its first convictions under new bribery laws

LONDON (Reuters) – Three men were jailed for masterminding a 23 million pound biofuel investment scam on Monday, in the first convictions by Britain’s Serious Fraud Office (SFO) under tough new anti-bribery laws.

The Britons were executives or agents of Sustainable AgroEnergy Plc, a company that promoted biofuel investment products linked to southeast Asian plantations of jatropha trees, once considered a wonder plant in the hunt for oil.

Dec 8, 2014

UK anti-fraud agency nails its first convictions under new bribery laws

LONDON, Dec 8 (Reuters) – Three men were jailed for
masterminding a 23 million pound ($36 million) biofuel
investment scam on Monday, in the first convictions by Britain’s
Serious Fraud Office (SFO) under tough new anti-bribery laws.

The Britons were executives or agents of Sustainable
AgroEnergy Plc, a company that promoted biofuel investment
products linked to southeast Asian plantations of jatropha
trees, once considered a wonder plant in the hunt for oil.

Nov 27, 2014

Hedge fund couple agree Britain’s most expensive divorce

LONDON, Nov 27 (Reuters) – Billionaire hedge fund manager
Chris Hohn has been ordered to pay his estranged wife Jamie
Cooper-Hohn 337 million pounds ($530 million) in the largest
divorce settlement in British legal history.

The size of the settlement was detailed in a draft judgment,
a legal source said on Thursday, cautioning that there could be
last-minute changes ahead of final publication on Dec. 12.

Nov 25, 2014

UK law firm calls on Tesco shareholders to join lawsuit

LONDON, Nov 25 (Reuters) – A London law firm is rallying
Tesco Plc shareholders to join a lawsuit and seek
compensation for losses after Britain’s largest retailer
discovered a hole in its profits, suspended eight senior
employees and sparked a series of investigations.

The Serious Fraud Office became the latest agency to wade
into the scandal last month, launching a criminal investigation
into accounting practices after Tesco admitted it had overstated
half year profits by 263 million pounds ($412 million) and
called in forensic accountants and lawyers.

Nov 18, 2014

MPs to quiz bankers after forex fines – source

LONDON (Reuters) – British MPs will quiz top bankers in the wake of last week’s $4.3 billion (3 billion pound) deal with regulators to settle allegations of collusion and manipulation in the foreign exchange market, a source familiar with the matter said on Tuesday.

The source said the decision by the powerful Treasury Select Committee (TSC) had been agreed in principle. But hearings into how traders attempted to rig the $5.3 trillion-per-day forex market may not be held until December or possibly the New Year.

Nov 18, 2014

British lawmakers to quiz bankers after forex fines-source

LONDON, Nov 18 (Reuters) – British lawmakers will quiz top
bankers in the wake of last week’s $4.3 billion deal with
regulators to settle allegations of collusion and manipulation
in the foreign exchange market, a source familiar with the
matter said on Tuesday.

The source said the decision by the powerful Treasury Select
Committee (TSC) had been agreed in principle. But hearings into
how traders attempted to rig the $5.3 trillion-per-day forex
market may not be held until December or possibly the New Year.

Nov 14, 2014

Bankers and regulators could be grilled by UK lawmakers over forex fines

LONDON (Reuters) – British bank executives and regulators could be in line for public grillings following this week’s landmark international settlement over allegations of manipulation and collusion in the $5.3 trillion-per-day foreign exchange market.

British regulators led a global investigation after whistleblowers raised concerns about misconduct in the forex market, resulting in six of the world’s largest banks being fined a total of $4.3 billion.

Nov 12, 2014

UK’s Operation Dovercourt forex probe comes in on time

LONDON, Nov 12 (Reuters) – A year ago Tracey McDermott
marked mid-November 2014 in her diary for when British
regulators and their U.S. counterparts should aim to bring big
banks to a co-ordinated settlement over allegations that they
had manipulated currency markets.

But even her boss expected that timetable to slip.

Martin Wheatley, the chief executive of Britain’s Financial
Conduct Authority (FCA), told Reuters on Wednesday that nailing
the landmark settlement had been “touch and go” and therefore
had “managed expectations” by publicly stating that he only
expected a conclusion in 2015.

Nov 12, 2014

How to make free money by team whacking the fix

LONDON, Nov 12 (Reuters) – Chat room records published by
regulators who imposed massive fines on banks for trying to rig
foreign exchange rates reveal a macho culture among traders who
used banter laced with obscenities in a ruthless pursuit of
“free money”.

Foreign exchange traders at some of the world’s biggest
banks encouraged each other to join together in order to “team
whack” currency rates in a joint effort to manipulate the vast
foreign exchange market for profit.

    • About Kirstin

      "Based in London, I cover European financial regulation, banking and legal stories. Before that, I was European Telecommunications Correspondent and have worked on assignments in countries such as Germany, Switzerland, Austria, Italy, Japan and Dublin."
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