A LEADING businessman has said Brexit will have limited impact on the Island’s finance sector, but could make our fishing industry vulnerable. Sir Mark Boleat, former chairman of the City of London Policy Committee, Jersey Development Committee and the Channel Islands Competition and Regulatory Authorities, was in the Island for the International Banking Forum, Future […]

PARIS (Reuters) – France’s data protection watchdog fined Alphabet’s Google 50 million euros ($57 million) on Monday for breaching European Union online privacy rules, the biggest such penalty levied against a U.S. tech giant. The French regulator said the world’s biggest search engine lacked transparency and clarity in the way it informs users about its […]

BNP Paribas (BNPP.PA) plans to move 45 internal finance jobs from Paris to Lisbon as banks facing growing workloads to deal with changes in regulations and accounting rules try and improve their efficiency. The French lender confirmed the move on Tuesday, which was first announced by the Force Ouvriere (FO) union. “Like all banks, we […]

Messaging app has one month to comply or it will face sanctions for sharing user phone numbers and usage data for ‘business intelligence’ purposes WhatsApp has been ordered to stop sharing user data with parent company Facebook or face sanctions. The French data protection agency, Commission Nationale de l’Informatique et des Libertés (CNIL), said on Monday that WhatsApp did […]

MADRID (Reuters) – Spain’s High Court said on Tuesday it has confiscated millions of euros worth of property owned by an uncle of Syrian president Bashar al-Assad and his associates as part of a probe into alleged money laundering. The swoop comes less than a year after Rifaat al-Assad, an opponent of his nephew’s government, […]

French conservative politician and businessman Serge Dassault has been fined two million euros (US$2.2 million) after a court on Thursday found him guilty of money laundering and failing to disclose his wealth fully to authorities. The court added that the 92-year old, who sits in the Senate upper house of parliament, would be banned from […]

A former minister who led a French government crackdown on tax evasion was sentenced to three years in jail on Thursday for hiding an offshore bank account of his own, in a scandal that deeply embarrassed President Francois Hollande. A Paris court found Jerome Cahuzac, a cosmetic surgeon by trade who was made budget minister […]

French prosecutors are calling for Royal Bank of Canada’s wealth-management subsidiary in the Bahamas to be hit with the maximum fine allowed – €187,500 ($270,619 Canadian) – for its alleged role in a sophisticated tax fraud and money-laundering scheme involving billionaire international art dealer Guy Wildenstein and other family members. Royal Bank of Canada Trust […]