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EU ‘tax haven blacklist’ due today: as many as 25 jurisdictions could be on it

By: Helen Burggraf | 05 Dec 2017

As many as 25 jurisdictions could be named today on a long-awaited  final “tax haven blacklist” due to be put before EU finance ministers.  As reported here…

Santander in deal to sell US TotalBank to Chile’s BCI

By: Eugenia Jimenez | 04 Dec 2017

Santander, the Spanish banking group, is to sell the Florida-based subsidiary of Banco Popular  known as TotalBank to the Chilean banking group BCI for US$528m (€444m). The…

Financial services royal commission takes Australia by surprise

By: Eugene Costello | 30 Nov 2017

The surprise announcement of a controversial royal commission into the Australia’s banking and finance sector caught the country unawares, causing a drop in the value of the…

FCA: ‘Banks to support LIBOR reluctantly until 2021’

By: Eugene Costello | 24 Nov 2017

All 20 banks in the UK that are regulated by the Financial Conduct Authority (FCA) have committed to supported the present interbank lending rate until it is…

Black Friday: bankers’ bargains around the world

By: Eugene Costello | 24 Nov 2017

As shoppers in the US, and increasingly elsewhere around the world, head to stores and online to try and unearth bargains this Black Friday, a number of…

Coutts forced to repay up to £400k over ‘bad advice’

By: Eugene Costello | 23 Nov 2017

Coutts, the RBS-owned UK private bank and wealth-management firm, has been ordered to pay compensation to a couple who they wrongly advised to invest in an offshore…

Court defeat for US DoJ in Swiss banker trial

By: Eugene Costello | 22 Nov 2017

A former Swiss banker yesterday was acquitted in a Manhattan court of conspiracy to commit criminal tax evasion by helping US clients to hide funds and assets…

China in clamp-down on online micro-lenders

By: Eugene Costello | 22 Nov 2017

The People’s Bank of China (PBOC) yesterday took steps to rein in online micro-lending to individuals, a move that sent shares in US-listed Chinese lenders plummeting. The…

HSBC settles French tax ‘fraud’ for €300m over ‘control weaknesses’

By: Eugene Costello | 17 Nov 2017

HSBC has paid €300m (£268m, US$354m) to settle a criminal investigation by French tax authorities into allegations that the bank’s Swiss subsidiary colluded with clients to help them…

China puts out the welcome mat to foreign businesses

By: Eugene Costello | 10 Nov 2017

China is to allow foreign companies to hold majority stakes in joint ventures for the first time, while removing entirely caps on shareholdings for banks, asset managers…

JP Morgan chief welcomes UK ‘Brexit clarity’

By: Eugene Costello | 09 Nov 2017

US bank JP Morgan has welcomed the “better clarity” that it says it now has on the UK government’s handling of Brexit after a private meeting with …

Monaco parliament adopts draft law on legal right to open bank account

By: Adrien Paredes-Vanheule | 03 Nov 2017

Monaco’s National Council has approved a new law which aims to establish a legal right for individuals who either are Monaco residents or Monégasque nationals to open…

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