Banker Pleads Guilty Over Libor Manipulation

A senior banker from a British bank has admitted conspiracy to defraud over the Libor manipulation.
The banker is the first person in Britain to plead guilty to the offence.  The person cannot be named for legal reasons.
The Serious Fraud Office (SFO) said in a statement: “A senior banker from a leading British bank pleaded guilty at Southwark Crown Court on 3 October 2014 to conspiracy to defraud in connection with manipulating Libor.
“This arises out of the Serious Fraud Office […]

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By |October 13th, 2014|All Banks, FCA, SFO|0 Comments

Investors urged to join action against Lloyds

A SHAREHOLDER group that has filed a legal claim for compensation from Lloyds over its controversial rescue of HBOS in 2008 is pressing big institutional investors to throw their weight behind the action.
Lloyds Action Now (LAN), which represents 7,500 small shareholders, said an expected granting of a group litigation order (GLO) by the High Court this week will pave the way for more than 800,000 more to join, as well as leading institutional shareholders.
No specific amount of compensation has […]

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    Banks face mega fines as Britain imports US style corporate justice

Banks face mega fines as Britain imports US style corporate justice

The FCA imposed £472m in fines in 2013.
On 31 January, the Sentencing Council for England and Wales issued Definitive Guidelines, setting out a new approach to the imposition of financial penalties on corporate entities in criminal fraud, bribery and money laundering cases. And they will have significant implications.
Released ahead of the arrival of US-style Deferred Prosecution Agreements in the UK next week, the effect is likely to be that companies settling criminal cases can expect to receive fines […]

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By |February 27th, 2014|All Banks, SFO|0 Comments

Serious Banking Complaints Bureau (SBCB) to aid alleged victims of RBS

A Norfolk businessman who claims the Royal Bank of Scotland (RBS) caused the collapse of his profitable company has launched a national support group to help other alleged victims of malpractice.
 A spokesman RBS was unavailable for comment.
Andy Keats, 53, of Church Lane, East Tuddenham, near Dereham, has formed the Serious Banking Complaints Bureau (SBCB) with two other RBS complainants.
Since launching the not-for-profit organisation last month more than 50 people have already made contact, alleging that RBS malpractice cost them […]

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