Four men charged with insider trading have lost their trial lawyers because of cuts to legal aid in the U.K., days before they were scheduled to enter pleas, according to four people with knowledge of the case.
Every business day in London, five banks meet to set the price of gold in a ritual that dates back to 1919. Now, dealers and economists say knowledge gleaned on those calls could give some traders an unfair advantage when buying and selling the precious metal.
Dubai and Abu Dhabi are finding that outperforming stock markets aren’t enough to lure initial public offerings as restrictive regulations and a lack of trading volume persuade local companies to list in London.
The U.K. Listing Authority will publish new rules in July for companies seeking a share offering or that already list securities in the country, Financial Services Authority spokesman Chris Hamilton said.
A group of Co-Operative Bank Plc bondholders called on the U.K.’s Financial Conduct Authority to ensure individual investors get independent financial advice on how to respond to the bank’s plans to plug its capital deficit.
Thomas Ammann, the former Mizuho International Plc banker sentenced to 32 months in prison for giving inside information on deals to two of his girlfriends, must repay 94,568 pounds ($151,820), a judge ruled today.