08/29/2012
The class-action suit, which was filed in New York in 2009, accused Citi of employing a “CDO-related quasi-Ponzi scheme” to conceal the growing risks on its balance sheet from the mortgage-backed debt and collateralised debt obligations (CDOs)
08/29/2012
The reprieve will afford the New York Fed an additional month to comply, according to people briefed on the matter.
08/28/2012
The proposal is driven by a law that repealed a ban on pitching such investments to all but a select few investors, such as those accustomed to pumping cash into hedge funds.
08/28/2012
Standard Chartered and HSBC attract attention for compliance failures
08/28/2012
Morgan Stanley’s $9 billion valuation implies the joint venture’s profit could shrink by as much as 12 percent annually over the long term, according to Goldman Sachs Group Inc. analysts.
08/28/2012
Furthermore, the investigators were also probing whether HSBC circumvented US law by transferring money through its American subsidiary for sanctioned nations, including Iran, Sudan and North Korea.
08/28/2012
The event was organised by the Bahrain Association of Banks and accountancy practice KPMG Fakhro to update the delegates on the best approach for Bahrain.
08/28/2012
Baker’s profit per partner fell 9 percent to a three-year low of $1.09 million, however, with the firm’s profit margin dropping 4 percentage points to 34 percent.
08/27/2012
The regulators proposed rules in December and January to require the big banks -- holding companies under the Federal Reserve and national banks under the Office of the Comptroller of the Currency -- to start self-testing their portfolios against adverse
08/27/2012
Neither would confirm whether the inquiries concerned U.S. sanctions against Iran, which have led to investigations at rival banks such as UniCredit and RBS and have already cost Standard Chartered a hefty fine.
08/27/2012
In its complaint, the Securities and Exchange Commission (SEC) accused Marks of recommending various funds of funds through Sky Bell Asset
08/26/2012
CEO says dividing Citibank would be an ‘artificial separation’
08/26/2012
The judge said she will rule later on preliminary approval.
08/26/2012
The conduct of the US government and Bank HaPoalim in this case is particularly unreasonable, given that the bank in question is located in Jerusalem - Corpus Separatum by international law.
08/26/2012
"NIG argues that the investment contract is void because Carlyle, despite doing business for years in the Middle East, has never had a securities licence in Kuwait," the firm said.
08/26/2012
Unicredit has confirmed it is co-operating with a US investigation into a possible breach of sanctions.
08/23/2012
Respondents requested the expungement of the matter from Respondents Bilski’s and Clish’s Central Registration Depository records (“CRD”).
08/23/2012
Chanin won't start until September, a media representative of Morrison & Foerster said.
08/22/2012
Two recent studies suggest hiring at major law firms is outpacing demand for legal services, but experts say most firms are wisely stocking up on talent in anticipation of demand picking up down the road.
08/22/2012
Merrill Lynch & Co. Inc. has reached a deal to end a putative class action accusing it of breaching contracts by denying deferred compensation to thousands of financial advisers who quit after it was acquired by Bank of America Corp., according to a g