HBOS banker Peter Cummings fined by regulator 17 Sep 2012 A former HBOS executive has been fined £500,000 by the UK financial regulator over his role in the bank’s collapse. Peter Cummings, the head of HBOS corporate banking from 2006 to 2008, has also been banned from working in the banking industry, the Financial Services […]

Directors’ conflicts of interest: What to do 14 Sep 12 In an ideal world all directors would become members of boards with just one aim – to act objectively in the interests of the company, making decisions based solely on the business merits of the situation. Unfortunately we have all come across sole director/owners who […]

Deutsche Bank’s Business With Sanctioned Nations Under Scrutiny 12 Sep 2012 Federal and state prosecutors are investigating Deutsche Bank and several other global banks over accusations that they funneled billions of dollars through their American branches for Iran, Sudan and other sanctioned nations, according to law enforcement officials with knowledge of the cases. But the […]

Money Laundering Bulletin – Twin peaks – leading cases in 2010 11 Sep 2012 There have been two cases of significant interest to practitioners in the field of criminal litigation and money laundering compliance this year, write Peter Binning and Charles Elton of Corker Binning. The first, in February, was the case of Shah v […]

SEC adopts Dodd-Frank rule requiring disclosure of payments to governments by US resource extraction issuers 11 Sep 2012 The SEC has recently adopted (http://sec.gov/news/press/2012/2012-164.htm?intEmailHistoryId=778390&intEmailListId=133&intEmailId=60099&intExternalSystemId=1) rules requiring all US-listed firms engaged in the energy sector to file a supplementary form with them disclosing information relating to certain payments made to either the US or a foreign […]

Pfizer reaches settlement with SEC 11 Sep 2012 The United States’ Securities and Exchange Commission (SEC) has announced (http://www.sec.gov/news/press/2012/2012-152.htm?intEmailHistoryId=778390&intEmailListId=133&intEmailId=60099&intExternalSystemId=1) that it has reached a settlement with Pfizer Inc and a related company, Wyeth LLC for violations of the Foreign Corrupt Practices Act (FCPA). The SEC alleged that the employees and agents of Pfizer’s subsidiaries in […]