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UK tells EU – give the City access to EU or your financial firms could suffer: Guardian

Britain has warned the European Union negotiators that EU financial firms will face obstacles to working in the country after Brexit unless the City of London is allowed to operate in the bloc as it does currently, the Guardian reported on Monday. The Guardian said that about 7,000 European based… Read More

George Pearmain, lead policy adviser on financial crime for Jersey, on his concerns and priorities for the Island

George Pearmain, lead policy adviser on financial crime for Jersey, on the past successes and future challenges for the island's financial crime prevention regime. Read More

Dan Tannebaum of PwC’s Financial Crimes Unit on the compliance challenges faced by money service businesses

KYC360's Tom Devlin speaks to Dan Tannebaum, Partner of the Financial Crimes Unit and Global Financial Services Sanctions Leader at PwC. Read More
9th November 2018
AP — Beyond trying to get their hands on the Holy Grail of President Donald Trump’s business dealings — his tax returns — House Democrats are prepared to use their new majority and subpoena power to go after financial records that could back up their claims… Read More
30th October 2018
A $250 million (£195 million) luxury yacht linked to a multi-billion dollar scandal at Malaysia’s state fund 1MDB has gone up for auction, a government lawyer said on Monday, the first sale of a major asset seized by investigating authorities. The Equanimity is among $1.7 billion in assets allegedly bought… Read More
19th September 2018
Switzerland has asked Israel to open its markets so Swiss banks can trade funds there, a senior Finance Ministry official said. Israel allows European Union banks market access, but not Switzerland as it is not an EU country and has different regulations from countries inside the bloc. “We need… Read More
17th September 2018
The US Securities and Exchange Commission (SEC) has fined Citigroup Global Markets for misleading users of a dark pool operated by one of its affiliates. According to the SEC, Citigroup misled users with assurances that high-frequency traders were not allowed to trade in Citi Match, a premium-priced dark pool… Read More
11th September 2018
Europe’s ‘shadow banking’ sector shrunk last year, unexpectedly yielding market share to traditional lenders after more than a decade of often rapid growth, a report by the European Union’s risk watchdog showed on Monday. Assets held by EU shadow banks – financial firms outside regular banks, insurance companies, pension funds… Read More
4th September 2018
The Serious Fraud Office (SFO) seeks to step up the war on complex financial crime, pursuing prosecutions, settlements and new technology, in order to make Britain an ‘inhospitable place’ for criminals to operate, according to SFO chief Lisa Osofsky. Newly appointed Osofsky has taken on the SFO role at a… Read More
29th August 2018
AP — The Kushner family real estate company was fined $210,000 by New York City regulators on Monday following an Associated Press investigation earlier this year that showed it routinely filed false documents with the city claiming it had no rent-regulated tenants in its buildings when,… Read More
27th August 2018
A Malaysian court on Friday granted an application by the government to sell a $250 million (£194.5 million) luxury yacht allegedly bought with money stolen from scandal-tainted state fund 1Malaysia Development Berhad (1MDB). The Cayman Islands-flagged Equanimity was handed over to Malaysia by Indonesian authorities earlier this month after it… Read More
27th August 2018
The World Bank has priced the world’s first public bond created and managed using only blockchain in a A$100 million (56.84 million pounds) deal designed to test how the technology might improve decades-old bond sales practices. Commonwealth Bank of Australia, the sole manager of the deal, said in a statement… Read More
20th August 2018
The Commercial Court in London has ordered a freeze of assets owned by brothers Dmitry and Alexei Ananyev, secured against Russia’s Vozrozhdenie Bank (VZRZ.MM) and other international assets, a law firm representing investors said. The order was obtained by London law firm Withers, which applied for the freezing order on… Read More
Must Read

EU states still divided over money laundering reform – sources

European Union states are still divided over an overhaul of rules for the supervision of banks against money laundering, two EU sources said on Wednesday. EU confidential documents show countries had agreed a preliminary common stance on the reform proposed by the European Commission in September which would give more… Read More

Former UBS trader jailed for Britain’s biggest fraud deported

Kweku Adoboli, a former UBS trader jailed for Britain’s biggest fraud over unauthorised trades that cost the Swiss bank $2.3 billion (1.7 billion pounds), has been deported to Ghana, his spokesman said. Adoboli was put on a commercial flight from Heathrow on Wednesday after being detained in Scotland earlier in… Read More