87 articles found within the last year.
Displaying results 1 - 20
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FSA bans ex-UBS client adviser
The UK Financial Services Authority has handed out ... The FSA said today that it had banned ... In the final notice issued at the time, ... Margaret Cole, FSA director of enforcement and financial ... The FSA banned Cumming for five years on ... The unauthorised trades took place during a two...
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India probes potential misuse of UBS private banking accounts
The Indian government’s Enforcement Directorate is probing the ... The Indian inquiry is focused on whether funds...
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Hedge funds short the Sage of Omaha
Short sellers have focused their attention on Warren ... Berkshire Hathaway announced a $36bn (€24bn) deal to ... Ratings agencies Standard & Poor's and Fitch responded ... In the three days between November 3 and ... Despite the increase, the number of shares on ... In the six days since the deal was...
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Recovery at UBS: work in progress
For a bank which hoped all the bad ... The penalty, the FSA’s third largest, was for ... Despite a slew of accounting items that contributed ... Even the sceptics admit the bank has come ... Now, downsized, derisked and out of government control, ... Speaking to Financial News last week, chief financial...
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UBS wealth unit takes £33m hit on rogue trades
UBS has been forced to stump up £33m ... The Financial Services Authority fined UBS £8m, the ... The FSA documented a list of breaches within ... Margaret Cole, FSA director of enforcement and financial ... The transactions took place during a two year ... The transactions included about 50 foreign exchange trades...
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Swedes rewrite directive to remove hedge fund leverage cap
The Swedish Government, holder of the European Union's ... A copy of the Swedes' proposed redrafting, submitted ... Instead, it would empower competent authorities - which ... The Swede's proposal has deleted the passage in ... A source in the hedge fund industry close ... Poul Nyrup Rasmussen, president of the Party of...
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Big banks face change in the UK
The UK Financial Services Authority said it will ... Breakups would mean that banks that have retail ... King's views on the issue carry weight because ... Asked about King's comments in Parliament Wednesday, Prime ... The FSA's paper comes partly in response to ... "The cause of the problem is that banks...
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A job fit for a true master of the universe
When King Augeas of Elis ordered Hercules to ... Hercules was clearly no fool. But it is ... Figures published by the European Fund and Asset ... It is not hard to see why. Asset ... Asset managers who put their clients’ interests first ... For investors, the resulting choice is bewildering. No...
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City bankers expect bigger bonuses despite clampdown
Almost two thirds of City of London workers ... The report by recruitment consultants Morgan McKinley also ... Eighty two percent of the 200 financial service ... Andrew Evans, managing director of Morgan McKinley’s financial ... When asked if there were plans to restructure...
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UK to make push this week on bank bonuses
The UK Government this week will ask about ... The Wednesday meeting with 10 banks that also ... By getting commitments now, the government is hoping ... Barclays, Standard Chartered, Lloyds Banking Group, Royal Bank ... In a joint statement, those banks said it ... While the US, European and Asian banks active...
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Recovery? Who said anything about recovery?
It is the question everyone wants the answer ... As we report today, there is plenty of ... The bulls argue the equity market has rallied, ... Not so fast, say the bears, who argue ... One trend often cited by the bulls is ... Such a turn of events would have been ... And Lloyds is not alone. The last few...
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Aima calls for industry-wide registration
Hedge fund managers across the board are willing ... Aima, which represents the industry globally, said hedge ... "Any entity which acts as an alternative investment ... Aima made its remarks in a just-published position ... This stance contrasts the position set out in...
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Seymour Pierce fined over three-year fraud
London stockbroker Seymour Pierce has been fined by ... The FSA announced today that it had fined ... Margaret Cole, the FSA’s director of enforcement and ... According to the FSA's final notice, the offender, ... Seymour Pierce dismissed Mr A in July 2006 ... The London stockbroker now has 14 days to...
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European alternatives debate heats up
The European Parliament's latest meeting on the future ... The European Parliament's economic and monetary affairs committee, ... The meeting lasted for over two hours, according ... The first meeting, held early last month, was ... Syed Kamall, a UK representative for the European...
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Bankers urged to become socially useful
Last week was Yom Kippur and Planet Money, ... On the Jewish holiday last year, typically a ... On October 1 last year The New York ... One year later and the consensus seems to ... The crisis has led to much soul-searching on ... Former President Bill Clinton launched the Global Impact...
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UK watchdog mulls widening scope of short disclosure
The UK's financial market watchdog has mooted the ... The Financial Services Authority today said it could ... But it added that it would await any ... In shorting, speculators such as hedge funds sell ... In September last year the FSA banned taking ... However, in a report it published today, based...
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Ex-Marshall Wace star returns with hedge fund start-up
One of the most important partners at Marshall ... Daoud Zekrya, who was jointly responsible for running ... Zekrya departed Marshall Wace last November to begin ... Belay is seeking authorisation from the UK watchdog ... The third founding partner at Belay will be ... One London-based investment consultant said: "Belay will be...
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Bankers go offshore in search of bonuses
Nothing concentrates the mind better when you seek ... It may not be an ideal way of ... Last week Barclays confirmed that 45 staff led ... The bank has given away the right to ... As regards the team involved, Protium 45 sounds ... It so happens that Keeley is skilled in ... News of last week’s Barclays shuffle follows the...
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FSA and SEC agree joint mechanism to supervise hedge funds
The Financial Services Authority and the Securities and ... Both regulators vowed to move towards a common...
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Comment: Bankers need to see the folly of their ways
One of the less endearing characteristics of human ... In a recent note, Michael Mauboussin of Legg ... Which was why Sir Fred Goodwin, former chief ... Rather than a source of profit, Mauboussin said ... The banks hit extreme problems because their product ... Chief executives were praised and richly rewarded. Mauboussin...
