Legal

LEI promotes transparency across financial markets

The Legal Entity Identifier (LEI) has been devised to provide financial institutions with a greater understanding of corporate entities. Once finalised, it could greatly reduce cross platform risk exposure

The LEI is well on its way to establishing more transparency around financial transactions and markets. Its implementation will highlight some specific data management challenges, but its benefits for financial institutions and firms are wider reaching th...

World Finance interviews Antonio Giacomini, Partner at Andrioli, Giacomini, Porto e Cortez Advogados law firm, to find out about the global implications of the Clean Companies Act

Clean Companies Act: Andrioli, Giacomini, Porto e Cortez Advogados on its global implications | Video

World Finance interviews Antonio Giacomini, Partner at Andrioli, Giacomini, Porto e Cortez Advogados law firm, to find out about the global implications of the Clean Companies Act

Brazil's new Clean Companies Act came into effect in January of this year. Under the new law companies can be fined up to 20 percent of their gross annual revenue, if found liable of corrupt activities. World Finance speaks to respected lawyer Antonio Gia...

With austerity measures firmly in place throughout Europe, global leaders have been addressing whether these changes to the economic framework have been effective, and to what extent this impacts on the legal profession

IBA: legal world responds to economic austerity measures

With austerity measures firmly in place throughout Europe, global leaders have been addressing whether these changes to the economic framework have been effective, and to what extent this impacts on the legal profession

As the ramifications and effects of the global financial crisis continue to expand and act as catalysts of further instability – particularly in the financial markets almost eight years later – the gathering of more than 5,000 legal practitioners, bus...

The Swiss bank has agreed to a $2.6bn settlement with US authorities, becoming the first major financial firm to plead guilty to criminal charges for 20 years

Credit Suisse pleads guilty to tax evasion charges

The Swiss bank has agreed to a $2.6bn settlement with US authorities, becoming the first major financial firm to plead guilty to criminal charges for 20 years

The Zürich-based financial services firm has lodged a guilty plea for helping American clients evade taxes as part of an “extensive and wide-ranging conspiracy”, so-called by Attorney General Eric Holder. As a consequence, the bank has agreed to pay ...

If prostitution is the oldest profession in the world, lobbying is the second oldest – power and influence have always gone together. But as the political arena evolves, so too must the tools available to lobbyists

The evolution of political lobbying

If prostitution is the oldest profession in the world, lobbying is the second oldest – power and influence have always gone together. But as the political arena evolves, so too must the tools available to lobbyists

It has long been the accepted discourse that corruption is the reserve of poor and developing nations that lack robust legal frameworks. Developed, industrialised nations suffer less from this malaise, but instead operate on a much more sophisticated syst...

The conclusion of BP’s multi-billion dollar civil court case is to enter its third and final phase in January, marking another step on the way to reputational recovery

The BP oil spill disaster: a timeline of events

The conclusion of BP’s multi-billion dollar civil court case is to enter its third and final phase in January, marking another step on the way to reputational recovery

On the evening of April 20, 2010 a methane gas release triggered an explosion on the BP-run Macondo Prospect site and, for 87 days, oil was expelled over 68,000sq m of ocean and 16,000 miles of coastline off the Gulf of Mexico. The now infamous Gulf of M...

Only five years after the US government bailed out General Motors, the company is back in court trying to fend of billion-dollar lawsuits from car owners claiming damages on recalled cars

GM back in bankruptcy court as allegations of fraud are made

Only five years after the US government bailed out General Motors, the company is back in court trying to fend of billion-dollar lawsuits from car owners claiming damages on recalled cars

General Motors (GM) is back on familiar turf as the fight against owners of recalled cars is about to be unleashed in the Manhattan bankruptcy court which helped secure the governmental financing of the automaker’s turnaround five years ago. GM is fa...

World Finance looks at some of the biggest criminal masterminds behind the worst cases of financial fraud the world has ever seen

10 of the most controversial financial fraudsters

World Finance looks at some of the biggest criminal masterminds behind the worst cases of financial fraud the world has ever seen

Financial scandal, it would appear, has really taken off since the crisis took hold a half decade ago, with financial fraudsters racking up billions of dollars worth of illegitimate gains and so often sapping the livelihoods of countless individuals acros...

Under new rules, the eight biggest US banks have until 2018 to boost their capital by $68bn, say US regulators, who are still tightening policy in the wake of the financial crisis

Big US banks protest against call for higher capital levels

Under new rules, the eight biggest US banks have until 2018 to boost their capital by $68bn, say US regulators, who are still tightening policy in the wake of the financial crisis

US banks have decried the announcement that from 2018 new federal rules will require them to increase their capital levels to increase security and prevent a repeat of the financial crisis. The new rules require banks with more than $700bn in assets to...

Mary Barra attempted to calm safety concerns voiced by the public, though admitted that the underlying reasons for the late recall are yet to emerge

GM boss apologises for switch defect linked to 13 deaths

Mary Barra attempted to calm safety concerns voiced by the public, though admitted that the underlying reasons for the late recall are yet to emerge

At the start of April, GM executives faced a congressional hearing to answer for the company’s failure to recall faulty vehicles, despite reportedly having knowledge of the defects in question. Newly appointed chief executive Mary Barra was vocal in her...

The WTO has ruled against China for imposing restrictive rare earth export quotas that sent prices soaring and distorted the market

China loses trade case on rare earth materials

The WTO has ruled against China for imposing restrictive rare earth export quotas that sent prices soaring and distorted the market

China has broken international rules on exports of rare earth materials said the World Trade Organization after it ruled in favour of the US, Europe and Japan in a dispute over China’s export restrictions on rare earth. China imposed strict rare eart...

The world’s biggest retailer has sued Visa for $5bn in damages after it says that the credit card company hiked charges

Walmart sues Visa over artificially inflated card fees

The world’s biggest retailer has sued Visa for $5bn in damages after it says that the credit card company hiked charges

In the lawsuit, filed in US District Court for the Western District of Arkansas, where Walmart is headquartered, the firm claims that Visa charged the retailer with excessive swipe fees over nearly nine years between January 2004 and November 2012. Swipe ...

"JPMorgan – as an institution – failed and failed miserably,” said Preet Bharara, US Attorney for the Southern District of New York of JPMorgan’s involvement in Bernie Madoff’s $65bn Ponzi scheme

JPMorgan and Madoff’s epic Ponzi scheme

“JPMorgan – as an institution – failed and failed miserably,” said Preet Bharara, US Attorney for the Southern District of New York of JPMorgan’s involvement in Bernie Madoff’s $65bn Ponzi scheme

In the summer of 2009, a freshly convicted Bernie Madoff cut a forlorn shape on the courtroom floor, as he was finally held accountable for crimes that, in his own words, would leave a “legacy of shame” for those bearing his name. “I am embarrassed ...

The Japanese Health Ministry has filed a criminal complaint against the world’s second biggest pharmaceutical company Novartis following exaggerated advertising claims

Japan files criminal complaint against pharma giant

The Japanese Health Ministry has filed a criminal complaint against the world’s second biggest pharmaceutical company Novartis following exaggerated advertising claims

On January 9, the Japanese Health Ministry filed a criminal complaint against pharmaceutical company Novartis, calling for an investigation into the drug company’s local unit. It is suspected that falsified data was used in the clinical trial of Novarti...

World Finance interviews Luis Gerardo Del Valle Torres and Alejandro Aceves Perez, Managing Partner and Tax Partner of law firm Jauregui and Del Valle, on Mexico's imminent tax reforms

Luis Gerardo Del Valle and Alejandro Aceves Perez on tax reforms in Mexico | Jauregui and Del Valle | Video

World Finance interviews Luis Gerardo Del Valle Torres and Alejandro Aceves Perez, Managing Partner and Tax Partner of law firm Jauregui and Del Valle, on Mexico’s imminent tax reforms

Mexico’s economy has undergone drastic change in recent years. The government is now looking to pass several tax reforms. Luis Gerardo Del Valle Torres and Alejandro Aceves Perez, Managing Partner and Tax Partner of Jauregui and Del Valle, talk about th...

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