Finance & banking regulation news

Financial regulation

Pharmaceutical giant accused of overcharging NHS with 6000% price increase for thyroid drug

Competition and Markets Authority says Canadian firm Concordia abused its dominant market position to overcharge for a key thyroid drug.

Nov 22, 2017

By Karthick Arvinth

Letting Equatorial Guinea's Teodorin Obiang off lightly for corruption sends out the wrong message

Despite being called out for 'relentless embezzlement and extortion', Equatorial Guinea's vice president walked away from a French court with a suspended jail sentence.

Nov 21, 2017

By Martin Kenney

Colorado fines Uber $8.9m for allowing drivers with felony convictions

In one instance, the regulatory agency said that a "habitual offender" who had previously escaped from prison was released and became an Uber driver.

Nov 20, 2017

By James Tennent

Uber

Fiat Chrysler and auto safety group row over minivan recall

Automaker says its minivans have no safety issues contrary to claims by the group.

Nov 20, 2017

By Staff Reporter

Vijay Mallya Twitter account hacked, personal and sensitive information leaked

Indian tycoon exiled in UK says laundering allegations against him are 'fabricated'

Vijay Mallya is facing extradition to India on money laundering charges following a request by the Narendra Modi administration.

Nov 20, 2017

By Associated Press

HSBC parts with €300m to settle French tax avoidance probe

HSBC's Swiss private banking unit alleged to have helped wealthy clients avoid taxes by French prosecutors.

Nov 15, 2017

By Karthick Arvinth

HSBC LON:HSBA

Catholic order admits past offshore holdings in tax havens

The scandal-marred Legion of Christ Roman Catholic religious order pins blame on its disgraced founder, the Rev. Marcial Maciel.

Nov 14, 2017

By Associated Press

European Union moves to ban manufacturers from selling arms to Venezuela

Move is designed to ramp up pressure on President Nicolas Maduro over corruption and abuse of power allegations.

Nov 10, 2017

By Associated Press

Venezuela European Union

Uber loses UK legal appeal against drivers' rights but will escalate fight to Supreme Court

Landmark ruling sees company lose ruling its drivers should be classed as workers rather than self-employed.

Nov 10, 2017

By Gaurav Sharma

Uber

Guernsey Finance boss calls Paradise Papers leak an 'illegal hack' peddling tax transparency untruths

Dominic Wheatley says sensationalist reporting is deliberately designed to undermine legitimate business acts of offshore centres.

Nov 8, 2017

By Gaurav Sharma

Tax IMF

Russian prosecutors turn up with $2m in cash as 'evidence' at corruption trial

Spectacle happened at the trial of former Russian economy minister Alexei Ulyukayev, the highest-ranking official to have been arrested on corruption charges since 1993.

Nov 8, 2017

By Staff Reporter

Russia

Japan vehicle inspection scandal takes its toll on Nissan's profit

The scandal has resulted in more than a million vehicles being recalled to be checked again in Japan, and has caused some production at all six Nissan plants in Japan to be halted.

Nov 8, 2017

By Associated Press

EU hopes Paradise Papers leaks will lead to Europe-wide deal against tax havens

However, finance ministers meeting in Brussels remain divided over how and where to tax online companies that operate across the European Union.

Nov 7, 2017

By Staff Reporter

Panama Papers

Paradise Papers: UK government can no longer shelter tax havens for global elite

Molly Scott Cato, Green MEP for South West England and Gibraltar, has sat on three consecutive inquiry committees into tax avoidance as a member of the European Parliament.

Nov 6, 2017

By Molly Scott Cato

Tax Panama Papers

'Paradise Papers' tax practices becoming thing of the past, says OECD boss

Angel Gurria tells CBI conference recently sensationalised tax practices were being clamped down on and no longer the norm.

Nov 6, 2017

By Gaurav Sharma

Tax Panama Papers

Bevy of scandals expose Japan Inc's corporate governance problem

From Kobe Steel to Shoko Chukin, Nissan to Subaru, a growing number of corporate fiascos ought to make Japanese enterprises confront their governance demons.

Nov 6, 2017

By Gaurav Sharma

Japan Toyota