European Financial Correspondent
Kirstin's Feed
Aug 15, 2014

Exclusive: UK nears decision on whether to charge ex-Barclays bankers over Qatar – sources

LONDON (Reuters) – Britain’s fraud prosecutor could decide as soon as next month whether to charge former Barclays executives over undisclosed payments the bank made to Qatari investors in 2008, three sources familiar with the investigation said.

In a two-year investigation the Serious Fraud Office (SFO) has interviewed former chief executives Bob Diamond and John Varley, former finance director Chris Lucas, former tax advisory boss Roger Jenkins and other Barclays staff.

Aug 15, 2014

UK nears decision on whether to charge ex-Barclays bankers over Qatar -sources

LONDON, Aug 15 (Reuters) – Britain’s fraud prosecutor could
decide as soon as next month whether to charge former Barclays
executives over undisclosed payments the bank made to
Qatari investors in 2008, three sources familiar with the
investigation said.

In a two-year investigation the Serious Fraud Office (SFO)
has interviewed former chief executives Bob Diamond and John
Varley, former finance director Chris Lucas, former tax advisory
boss Roger Jenkins and other Barclays staff.

Aug 6, 2014

Ex-Investec traders lose $10 mln London bonus battle

LONDON, Aug 6 (Reuters) – Two former Investec
traders on Wednesday lost a three-year, 6 million pound ($10
million) battle over disputed bonuses in a case described by a
London High Court judge as “fanciful” and “wholly incredible”.

The latest bank bonus battle comes as governments and
regulators attempt to rein in lofty levels of compensation
blamed for creating a culture of excessive risk in an industry
that sowed the seeds of the 2007-08 financial crisis.

Jul 31, 2014

SFO settles final Tchenguiz damages claim

LONDON (Reuters) – Britain’s Serious Fraud Office (SFO) on Thursday drew a line under one of its most embarrassing and damaging episodes by reaching a second out-of-court settlement over a botched investigation that led to the arrests of two property moguls.

David Green, who took over the leadership of the agency after the arrest of Vincent and Robert Tchenguiz in a blaze of publicity in March 2011, has averted their 300 million pound damages claim with a total settlement of 4.5 million pounds.

Jul 31, 2014

British fraud prosecutor settles final Tchenguiz damages claim

LONDON, July 31 (Reuters) – Britain’s Serious Fraud Office
(SFO) on Thursday drew a line under one of its most embarrassing
and damaging episodes by reaching a second out-of-court
settlement over a botched investigation that led to the arrests
of two property moguls.

David Green, who took over the leadership of the agency
after the arrest of Vincent and Robert Tchenguiz in a blaze of
publicity in March 2011, has averted their 300 million pound
damages claim with a total settlement of 4.5 million pounds.

Jul 30, 2014

Ex-hedge fund chief Micalizzi loses appeal against UK ban, fine

LONDON, July 30 (Reuters) – The Italian former head of
defunct UK hedge fund Dynamic Decisions on Wednesday lost his
appeal against a multi-million pound fine and a ban from holding
any role in Britain’s financial sector.

A court in London said former chief executive and university
lecturer Alberto Micalizzi had “deliberately misrepresented” to
investors the position of the DD Growth Premium Master Fund,
worth $437 million in 2008 before collapsing the same year.

Jul 30, 2014

UK fraud squad considers criminal probe into rate rigging at Lloyds-sources

LONDON, July 30 (Reuters) – Britain’s Serious Fraud Office
(SFO) is examining material that might trigger a criminal
investigation into former and current staff at Lloyds Banking
Group, the partly state-owned bank, sources said on
Wednesday.

The sources said the SFO was looking at information it had
been handed by the UK Financial Conduct Authority (FCA) some
months ago linked to an inquiry into alleged manipulation of
benchmark rates, including one used to set the fees on a
taxpayer-backed funding scheme for banks.

Jul 24, 2014

Lloyds fine in LIBOR rigging probe to be announced next week -sources

July 24 (Reuters) – The long-awaited fine on Britain’s
Lloyds Banking Group in relation to the benchmark
interest rate (LIBOR) fixing allegations will be announced next
week, two sources familiar with the inquiry told Reuters.

One source said the settlement, which will be the seventh
joint UK and U.S. penalty in this inquiry, could be in the
ballpark of 200 million to 300 million pounds.

Jul 23, 2014

UK fraud office liaising with China on GSK bribery case

LONDON (Reuters) – Britain’s fraud office is working with authorities in China in a first for such Anglo-Chinese cooperation as it carries out its own investigation into alleged corruption at drugmaker GlaxoSmithKline (GSK.L: Quote, Profile, Research, Stock Buzz).

“Certainly, so far as I am aware it is the first time we have had cooperation with the Chinese on an SFO case,” David Green, the head of the Serious Fraud Office (SFO), said in an interview with Reuters on Wednesday.

Jul 23, 2014

British fraud prosecutor signals possible forex charges next year

LONDON (Reuters) – British prosecutors could charge the first individuals in connection with a global investigation into alleged manipulation of currency markets as soon as next year, the head of the country’s Serious Fraud Office (SFO) said on Wednesday.

David Green, who announced on Monday that the SFO would join U.S. prosecutors and regulators worldwide in investigating allegations of misconduct in the $5.3 trillion-per-day foreign exchange market, said he had “reasonable grounds” to suspect that an offense of serious or complex fraud was involved.

    • 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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