UK banks failing to learn lessons from Libor scandal - FCA

From Finextra –

“The UK's banks have failed to learn the lessons from a wave of scandals over rigging of financial benchmarks says the Financial Conduct Authority in a damning report on the industry's response to evidence of widescale market abuses.

The watchdog says that the application of the lessons learned from the Libor, Forex and Gold scandals - in which traders were found to have rigged the rate to boost their bonuses and the standing of their bank - had been uneven across the industry and often lacked the urgency required given the severity of past failings.”

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Britain Plays Chicken With HSBC And JP Morgan, Big Banks Win... For Now

From Forbes –

“Two of the largest multinational banking institutions operating in London threatened to decamp for the more tax-friendly pastures of Luxembourg earlier this month, claiming that Great Britain’s heavy tax levies on banks were making it too costly to continue operating in the region. I wrote about it at the time, explaining that although most high profile threats to relocate a business for tax reasons do not materialize, there has been a steadily growing chorus of companies pressing tax authorities to lower taxes… or else.”

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