Risk averse staff are losing us money, says HSBC
As revenues and share prices plummet, HSBC’s Chairman Douglas Flint has attributed the bank’s shaky results to a nervous and over-regulated workforce.
Headline News
US proposes new finance law to “pierce the corporate veil”
In a fresh attempt to fight financial crime, the US Treasury has proposed a new rule that will force financial institutions to identify the beneficial owners of companies when they open accounts.
Three banks accused in price-fixing silver scandal
Deutsche Bank, HSBC and Bank of Nova Scotia illegally rigged the price of silver for their own gain, it has been alleged.
UK SFO launches criminal investigation into FX rigging
The agency said in a statement: “The Director of the Serious Fraud Office has today opened a criminal investigation into allegations of fraudulent conduct in the foreign exchange market.”
Firms struggle for compliance as AIFMD deadline looms
Numerous AIFs remain unauthorised to operate under the new directive that comes into force tomorrow a survey has revealed, while many sub-threshold managers feel pressured to apply despite high cost of compliance.
“Treasury Tinder” hooks up civil servants in the workplace
A location-based networking tool that randomly pairs up UK government workers has been “eagerly welcomed” by treasurers, according to City AM.
FERMA to roll out certification programme for European risk managers
The General Assembly of the Federation of European Risk Management Associations (FERMA) has announced plans to provide risk managers in Europe with formal certification, starting in 2015.
Scottish economist slams official Treasury figures
One of Scotland’s leading oil economists has described UK estimates of income as ill-informed and “wide of the mark.”
Non-FACTA account holders facing 30% penalty tax
A new anti-tax evasion measure that slaps a hefty withholding tax on money spirited into non-compliant foreign entities has now come into effect.
Blue Line brings compliance to $2 billion cannabis industry
The leading financial services provider for America's legal cannabis industry has announced a partnership with Nevada’s First Security Bank that will see it expand its offering to financial compliance.
