Spotlight

Removing Labels Devalues Wines

by Giles Cadman In the wine investment market provenance is absolutely crucial ...

HM Revenue and Customs Seize Smuggled Liquor

by Giles Cadman Her Majesty’s Revenue and Customs have seized wine and ...

Ontario Government Funds Wine Industry

by Giles Cadman As a frequent visitor to Ontario I have been ...

Shanghai to become International Wine Investment Hub

by Giles Cadman The balance of power in the world wine market ...

A Film on the History of Zinfandel

by Giles Cadman Dossier Zinfandel, a film about the journey of Zinfandel ...

Forbes on Wine Investment

by Giles Cadman Forbes has a series of good articles about wine ...

Latest News

JP Morgan Profit Hit by Settlements

by Giles Cadman JP Morgan has had a significant part of the last quarter’s profit eroded by settlements with regulators for actions during the Global Financial Crisis. JPMorgan took a charge of $1.1 billion in the fourth quarter to resolve some of its biggest legal headaches. The charge was partially offset by profits from the […]

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Removing Labels Devalues Wines

by Giles Cadman In the wine investment market provenance is absolutely crucial to obtain the best returns. The is some disquiet among wine merchants who are seeing wine that has had labels removed. Several leading UK wine merchants have said that they are regularly offered fine wines that have had so-called ‘strip labels’ removed, hiding […]

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JP Morgan Settles for $2.6B over Madoff Ponzi Fraud

by Giles Cadman JP Morgan has been fined more than expected for its role in allowing convicted Ponzi Fraudster Bernie Madoff to launder money. The revelation came as JP Morgan agreed to pay $2.6bn (£1.6bn) to resolve US claims that it ignored signs of Madoff’s crime. “JPMorgan had an inadquate and ineffective anti-money laundering program,” […]

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RBS Unit in Japan to Pay $50m for LIBOR Dealings

by Giles Cadman The rash of settlements and court orders against financial institutions for their role in the LIBOR scandal continues with RBS’s Japanese unit being fined $50m after pleading guilty to wire fraud. RBS Securities Japan Ltd had entered its plea last April 12, as part of its parent’s $612 million settlement to resolve criminal and […]

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HM Revenue and Customs Seize Smuggled Liquor

by Giles Cadman Her Majesty’s Revenue and Customs have seized wine and vodka suspected of being smuggled into Britain in raids on off licenses in Milton Keynes. It is suspected that duty had not been paid on the goods and counterfeit UK Duty Paid stamps had been put on some of the spirits. As the […]

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Madoff Case to Cost JP Morgan $2B

by Giles Cadman JP Morgan’s ongoing issues with regulators have been exceptionally expensive for the largest financial firm in the world. They are now facing a settlement of $2B for the role it paid in the Madoff Ponzi Fraud case. JPMorgan Chase is expected to pay approximately $2 billion in civil and criminal settlements as […]

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Canadians End LIBOR Investigation

by Giles Cadman The LIBOR scandal has cost large financial institutions billions of dollars across a number of jurisdictions. The institutions that have already settled in other countries will be relieved that the Canadians have decided not to continue investigating whether the Canadian branches of these firms were involved in rigging the LIBOR market. Canada’s […]

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$8B Recovered from Banks for Misselling in 2013

by Giles Cadman The Federal Housing Finance Agency recovered $8B in 2003from banks that sold bad mortgages to Freddie Mac and Fannie Mae in the lead up to the global financial crisis. The seven settlements reached last year have been previously acknowledged individually either by the FHFA or the banks, but some of the terms […]

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Tobin Tax to Kill City of London’s Yuan Trading

by Giles Cadman The Chinese want to introduce a “Tobin Tax” or a Financial Transaction Tax to the curb capital flows and potentially end the City of London being a major trading destination for trading the Yuan.  Yi Gang, director of the State Administration of Foreign Exchange, called for an “in-depth study” of a Tobin […]

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SEC Charge Microsoft Employee with Insider Trading

by Giles Cadman The SEC is taking a staunch line against insider trading, and has been providing huge incentives to people considering insider trading to think again. Microsoft manager Brian Jorgenson has been charged with insider trading for providing a friend tips. Jorgenson and his friend, Sean Stokke — who allegedly traded in advance of Microsoft’s fourth […]

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