SFO announcement regarding LIBOR investigation 10 Sep 2012 Following the SFO’s announcement (http://www.sfo.gov.uk/press-room/latest-press-releases/press-releases-2012/libor-sfo-to-investigate.aspx?intEmailHistoryId=778390&intEmailListId=133&intEmailId=60099&intExternalSystemId=1) that it is investigating the operation by a number of banks of the London Interbank Offered Rate (LIBOR), the SFO’s Director has issued a press release (http://www.sfo.gov.uk/press-room/latest-press-releases/press-releases-2012/libor-criminal-offences-are-capable-of-covering-conduct.aspx?intEmailHistoryId=778390&intEmailListId=133&intEmailId=60099&intExternalSystemId=1) stating that he is satisfied that currently-existing criminal offences are capable of covering conduct in […]

Lord Goldsmith attacks Austria’s ‘unfair’ treatment of UK businessman 5 Sep 2012 €100m bail demand issued to Julius Meinl was excessive, says former attorney general A British businessman is receiving “harsh and unfair treatment” from the Austrian legal authorities, his lawyer, Lord Goldsmith QC, has told the foreign secretary. The former attorney general wrote to […]

Bermuda Funds Industry – Welcomes Japanese Retail Investors Andrea Moniz-DeSouza 30 Aug 2012 The Government of Bermuda and the Investment funds industry of Bermuda have re-affirmed their commitment to enhancing the Islands competitiveness as an offshore fund jurisdiction by designing innovative strategies to attract investors to the Bermuda market, most recently targeting Japan.The Investment Funds […]

Mexico now after ex-border governor 30th Aug 2012 Mexican prosecutors said Wednesday they are seeking to arrest a former border state governor who U.S. officials allege laundered millions of dollars in South Texas. Mexican Attorney General Marisela Morales said a judge in that country issued an arrest warrant for Tomás Yarrington Ruvalcaba, the disgraced former […]

Amid Big Sanctions Cases, AML Actions Fell by a Third in First Half of 2012 29th Aug 2012 By Brian Monroe and Colby AdamsThe number of federal anti-money laundering enforcement actions issued in the first half of 2012 fell by 35 percent in comparison to the total levied during the same period last year, data […]

Global Witness calls for action to end hidden company ownership in light of Money Laundering accusations Global Witness has revealing evidence that numerous UK companies appear to have helped facilitate a major money laundering scandal centred on a bank in Central Asia. Grave Secrecy, launched today, shows how urgent action is needed to address the […]

FSA to stop promotion of fine wines, crops as investments The Financial Services Authority has widened its crackdown on unregulated investments in unusual assets such as fine wine, crops and timber, saying they should not be promoted to retail investors as compensation for mis-selling may not be available. The financial regulator published proposals on Wednesday […]

Former Honister adviser jailed for £380k fraud A former Honister adviser has been jailed for two years and nine months for swindling clients out of £380,000. Angus McClymont was sentenced at Winchester Crown Court on Monday after pleading guilty to 14 counts of fraud by abuse of position between April 2008 and October 2011. The […]