London Whale Lifts U.k. Regulator To Highest Fines In A Decade

Regulator to Highest Fines in a Decade By Suzi Ring – 2013-10-04T15:11:31Z The U.K. finance regulator recorded its largest month of fines in more than a decade in September, buoyed by a 137.6 million-pound ($221.2 million) penalty against JPMorgan Chase & Co. (JPM) over the London Whale debacle. Industry fines totaled 169.5 million pounds last month and brought total penalties from the Financial Conduct Authority in 2013 to 339.5 million pounds, according to statistics published today by Wolters Kluwer NV (WKL) , Europe s largest tax and legal publisher. The year-to-date total is larger than any other full year since 2002. The regulator fined JPMorgan as part of a probe into losses exceeding $6.2 billion on a derivatives position built by a trader who came to be known as the London Whale because his bets were so large. The past year has also seen the regulator punish banks embroiled in the scandal over rigging of the London Interbank Offered Rate, or Libor. The FCA is endeavoring to keep up with the international trend towards greater levels of fining and is continuing the trajectory started in the U.K. by the Financial Services Authority in its latter years, said Barnabas Reynolds, a London lawyer at U.S. law firm Shearman & Sterling LLP. The FSA became the FCA in April this year. FCA fines increased considerably last year hitting 313.4 million pounds at the end of 2012 compared with 66.1 million pounds in 2011.

Is London Big Enough For A Second Startup Hub?

(AP) The NFL is determined to make London work. Anyone who doubts that should have been standing Saturday afternoon on the city’s biggest shopping avenue, Regent Street between the Oxford and Piccadilly Circuses. This is because the NFL had the road closed to traffic and filled 2,000 feet of pavement with every gimmick it knows to shove itself into Europe’s awareness. There were races on Jaguar-themed moonbounces, inflatable rooms in which one could catch balls shot from pitching machines just like the pros do, places to kick field goals, and a stage behind which fans could wait 90 minutes to get their picture taken with the Lombardi Trophy. There were trailers selling American burgers, a spot where old men dressed like Elvis square danced to techno pop, not to mention a television blaring the Jaguars’ 2012 highlights, and a booth for the City of Jacksonville as if to say: we’ll give you our team if you come visit our miles of beautiful beaches. . Tim Tebow’s popularity extends to Europe, at least for this fan. (Y Sports) “People will say, ‘Oh wait a minute this is supposed to be a sport but it’s not about the sport, it’s about the advertising,'” said Riki Samuel, Gur’s father, as he and his son waited to enter Wembley on Sunday. “‘How do you stop a game to show an advert?’ People actually say this.” When Gur Samuel tries to recruit friends to watch NFL games, he often loses them at the change of possessions when the ads come on in the U.S. Since British channels don’t sell many of the commercial breaks, they fill the void with endless five-minute cuts to studio shows, where one or two analysts sit around small tables with hosts and talk about the previous handful of plays in a tedious exercise. “People don’t want their attention broken up by adverts,” he said. This is an issue for an NFL that desperately wants to reach young people in the UK.

Football Thursday: Can ‘Madden’ video game do more to help NFL in London than the Jaguars?

PHOTOS: Best of NFL Week 4 Houston Texans defensive end J.J. Watt walks off the field after the Texans were defeated by the Seattle Seahawks 23-20 in overtime. Troy Taormina, USA TODAY Sports Houston Texans defensive end J.J. Watt (99) reacts in the fourth quarter as blood drips down from his nose against the Seattle Seahawks at Reliant Stadium. Matthew Emmons, USA TODAY Sports New Orleans Saints quarterback Drew Brees (9) looks to pass the ball against the Miami Dolphins in the second quarter at Mercedes-Benz Superdome. Crystal LoGiudice, USA TODAY Spor New Orleans Saints quarterback Drew Brees (9) congratulates running back Darren Sproles (43) after a touchdown against the Miami Dolphins in the second quarter at Mercedes-Benz Superdome. Crystal LoGiudice, USA TODAY Sports Miami Dolphins quarterback Ryan Tannehill (17) fumbles the ball as he is tackled by New Orleans Saints middle linebacker Curtis Lofton (behind) and outside linebacker David Hawthorne (57) in the second quarter at Mercedes-Benz Superdome. Crystal LoGiudice, USA TODAY Sports Atlanta Falcons running back Jason Snelling (44) is tackled by New England Patriots defensive lineman Vince Wilfork (75) safety Steve Gregory (28) and linebacker Dont’a Hightower (54) during the first quarter at Georgia Dome. Dale Zanine, USA TODAY Sports Atlanta Falcons tight end Tony Gonzalez (88) scores a touchdown in the first half against the New England Patriots at the Georgia Dome. Daniel Shirey, USA TODAY Sports Buffalo Bills defensive tackle Marcell Dareus (99) sacks Baltimore Ravens quarterback Joe Flacco (5) during the first half at Ralph Wilson Stadium. Timothy T. Ludwig, USA TODAY Sports Denver Broncos quarterback Peyton Manning (18) throws the ball during the first half against the Philadelphia Eagles at Sports Authority Field at Mile High. Chris Humphreys, USA TODAY Sports Oakland Raiders running back Darren McFadden (20) is tackled by Washington Redskins strong safety Brandon Meriweather (31) during the first quarter at O.co Coliseum. Kyle Terada, USA TODAY Sports Denver Broncos free safety Rahim Moore tackles Philadelphia Eagles running back LeSean McCoy in the second quarter. Ron Chenoy, USA TODAY Sports Dallas Cowboys wide receiver Dez Bryant out jumps San Diego Chargers defensive back Richard Marshall to score a first half touchdown. Robert Hanashiro, USA TODAY Sports San Diego Chargers defensive end Kendall Reyes chases down Dallas Cowboys quarterback Tony Romo during the first quarter. Robert Hanashiro, USA TODAY Sports Tennessee Titans defensive end Ropati Pitoitua sacks New York Jets quarterback Geno Smith during the first half. Don McPeak, USA TODAY Sports Tennessee Titans wide receiver Justin Hunter celebrates scoring a touchdown against the New York Jets with teammate Chris Johnson. Jim Brown, USA TODAY Sports New York Jets quarterback Geno Smith passes against the Tennessee Titans during the first half. Don McPeak, USA TODAY Sports Tennessee Titans quarterback Jake Locker rushes during the first half against the New York Jets. Jim Brown, USA TODAY Sports Tennessee Titans tight end Delanie Walker catches a pass for a touchdown against the New York Jets. Jim Brown, USA TODAY Sports Pittsburgh Steelers running back Le’Veon Bell scores a touchdown against the Minnesota Vikings. Bob Martin, USA TODAY Sports Minnesota Vikings running back Adrian Peterson celebrates with teammates after scoring a touchdown against the Pittsburgh Steelers. Bob Martin, USA TODAY Sports Minnesota Vikings wide receiver Jerome Simpson runs between Pittsburgh Steelers cornerback Cortez Allen (right) and safety Robert Golden. Bob Martin, USA TODAY Sports Tampa Bay Buccaneers wide receiver Mike Williams catches the ball for a touchdown against the Arizona Cardinals. Kim Klement, USA TODAY Sports Tampa Bay Buccaneers running back Doug Martin runs with the ball during the first quarter against the Arizona Cardinals. Kim Klement Kim Klement-USA TODAY Sports Tampa Bay Buccaneers quarterback Mike Glennon drops back during the first quarter against the Arizona Cardinals. Kim Klement, USA TODAY Sports Arizona Cardinals quarterback Carson Palmer yells to the his offensive line during the first half against the Tampa Bay Buccaneers. Rob Foldy, USA TODAY Sports Indianapolis Colts running back Trent Richardson is stopped short of the goal line by Jacksonville Jaguars linebacker Paul Posluszny in the second quarter. Phil Sears, USA TODAY Sports Indianapolis Colts punter Pat McAfee holds for Adam Vinatieri as he kicks a field goal in the second quarter. Phil Sears, USA TODAY Sports Indianapolis Colts cornerback Vontae Davis intercepts a pass intended for Jacksonville Jaguars wide receiver Cecil Shorts III. Phil Sears, USA TODAY Sports Indianapolis Colts wide receiver Reggie Wayne cannot hold onto a pass as he is hit by Jacksonville defenders in the first quarter. Phil Sears, USA TODAY Sports Jacksonville Jaguars cornerback Will Blackmon intercepts a pass in front of Indianapolis Colts wide receiver Darrius Heyward-Bey in the first quarter. Phil Sears, USA TODAY Sports Cleveland Browns quarterback Brian Hoyer runs the ball during the second quarter against the Cincinnati Bengals. Raj Mehta, USA TODAY Sports Cincinnati Bengals wide receiver A.J. Green tries to catch a pass while defended by Cleveland Browns cornerback Joe Haden and free safety Tashaun Gipson. Raj Mehta, USA TODAY Sports Cleveland Browns tight end Jordan Cameron catches a touchdown pass in front of Cincinnati Bengals strong safety Taylor Mays. Raj Mehta, USA TODAY Sports Cleveland Browns wide receiver Travis Benjamin runs after a catch during the first quarter against the Cincinnati Bengals. Raj Mehta, USA TODAY Sports Cleveland Browns quarterback Brian Hoyer throws a pass during the first quarter against the Cincinnati Bengals. Ken Blaze, USA TODAY Sports Cleveland cornerback Joe Haden fist bumps with a boy on the sidelines before the Browns’ game against the Cincinnati Bengals. Ken Blaze, USA TODAY Sports Buffalo Bills middle linebacker Kiko Alonso seals the game with an interception on a pass intended for Baltimore Ravens tight end Dallas Clark Kevin Hoffman, USA TODAY Sports Baltimore Ravens quarterback Joe Flacco gets hit by Buffalo Bills defensive tackle Alan Branch after throwing a pass during the first half. Timothy T. Ludwig, USA TODAY Sports Buffalo Bills running back C.J. Spiller gets tackled by Baltimore Ravens free safety Matt Elam. Timothy T. Ludwig, USA TODAY Sports Buffalo Bills running back C.J. Spiller breaks a tackle by Baltimore Ravens inside linebacker Daryl Smith during the first half. Kevin Hoffman, USA TODAY Sports Buffalo Bills outside linebacker Arthur Moats tackles Baltimore Ravens wide receiver Marlon Brown during the first quarter. Timothy T. Ludwig, USA TODAY Sports Baltimore Ravens running back Bernard Pierce carries the ball during the first quarter against the Buffalo Bills. Timothy T. Ludwig, USA TODAY Sports Baltimore Ravens inside linebacker Daryl Smith tries to make a tackle on Buffalo Bills tight end Scott Chandler during the first quarter. Timothy T. Ludwig, USA TODAY Sports Kansas City Chiefs tight end Sean McGrath catches a pass as New York Giants cornerback Aaron Ross defends. Denny Medley, USA TODAY Sports New York Giants outside linebacker Spencer Paysinger celebrates after recovering a fumble against the Kansas City Chiefs. John Rieger, USA TODAY Sports Kansas City Chiefs quarterback Alex Smith passes the ball during the first half against the New York Giants. Denny Medley, USA TODAY Sports Kansas City Chiefs tight end Sean McGrath is congratulated by wide receiver Donnie Avery after scoring a touchdown in the first half. John Rieger, USA TODAY Sports Kansas City Chiefs wide receiver Dexter McCluster returns a punt during the first half against the New York Giants. Denny Medley, USA TODAY Sports Houston Texans running back Ben Tate carries the ball against the Seattle Seahawks. Matthew Emmons, USA TODAY Sports Seattle Seahawks running back Marshawn Lynch runs with the ball against the Houston Texans in the first quarter. Matthew Emmons, USA TODAY Sports Seattle Seahawks wide receiver Sidney Rice has a pass broken up by Houston Texans cornerback Johnathan Joseph in the first quarter. Matthew Emmons, USA TODAY Sports Houston Texans receiver Andre Johnson runs after making a catch against the Seattle Seahawks. Matthew Emmons, USA TODAY Sports Houston Texans tight end Owen Daniels has a pass broken up by Seattle Seahawks safety Kam Chancellor (right) and cornerback Brandon Browner. Matthew Emmons, USA TODAY Sports Detroit Lions defensive tackle Nick Fairley celebrates after scoring his first career touchdown during the third quarter against the Chicago Bears. Tim Fuller, USA TODAY Sports Detroit Lions running back Joique Bell runs over Chicago Bears cornerback Charles Tillman in the first quarter. Rick Osentoski, USA TODAY Sports Chicago Bears tight end Martellus Bennett catches a pass against the Detroit Lions in the first quarter. Rick Osentoski, USA TODAY Sports The Detroit Lions huddle up around quarterback Matthew Stafford in the first quarter. Rick Osentoski, USA TODAY Sports Detroit Lions quarterback Matthew Stafford throws the ball in the first quarter against the Chicago Bears. Rick Osentoski, USA TODAY Sports Fullscreen San Francisco 49ers wide receiver Anquan Boldin (81) avoids a tackle by St. Louis Rams cornerback Cortland Finnegan (31) and avoids stepping out of bounds on the way to a 20 yard touchdown reception during the first half at the Edward Jones Dome. Scott Rovak, USA TODAY Sports St. Louis Rams tight end Jared Cook (89) catches a pass as San Francisco 49ers strong safety Donte Whitner (31) defends during the first half at the Edward Jones Dome. Scott Rovak, USA TODAY Sports San Francisco 49ers running back Frank Gore (21) rushes for a 34 yard touchdown run against the St.

Vikings get first win, Steelers don’t in NFL’s London showcase

Houston Texans defensive end J.J. Watt walks off the field after the Texans were defeated by the Seattle Seahawks 23-20 in overtime.

But has being away from the East London tech action created other hassles for the fledgling company? Quite the opposite, claims Hill. A lot of clients, theyre struggling for meeting space in Central London. Theyre really happy to come to us. Weve got a huge space. Weve got a Muay Thai boxing gym in here, so we have two boxing rings in the office people find it quite quirky. If were going to meet clients, then the fact that we can show them an interesting space that isnt just four desks in a really expensive Shoreditch office gives us some more credibility, Hill says. And The Downsides If Hill and other West London startups have the classic advantages of the gentrification pioneer big, character filled spaces in which to create he also faces some of the same challenges. The biggest one? Imminent interest in the transforming neighborhood that will shift the real estate market once again. FIGs warehouse home is slated for demolition in the next few years to make way for an expansion of the shopping center that also serves as its landlord, so the incubator is already making plans for a move. Were already looking for where might the next big warehouse project is that we can take over and bring in even more exciting businesses, Hill says. That might be a hassle for the companies in FIG Village, but its good news for the city, Hill feels.

Comments are closed.