09/03/2012
Although the current situation for banks is characterised by falling margins, a large number of regulatory projects and constant pressure from abroad, Switzerland can continue to be a leading financial centre.
09/03/2012
A former Dewey & LeBoeuf partner has filed a lawsuit claiming Citibank colluded with the now-defunct US firm to entice lateral hires in the run-up to the firm’s high-profile collapse this year.
09/02/2012
While employed at UBS, the three men participated in separate fraud conspiracies and schemes with various financial institutions between 2001 and 2006, the United States Department of Justice said.
09/02/2012
The agency claims to investigate “firms that rip-off government pension funds, contractors that over-bill taxpayers, and large-scale tax cheats”.
09/02/2012
A teenage prank has cost a customer service rep his job, thanks to new Federal regulations.
08/30/2012
Securities regulations have barred hedge funds and other private investment vehicles from advertising and marketing to the general public for more than 30 years.
08/30/2012
The bank argued in papers filed late Tuesday in Manhattan federal court that shareholders should have known the insurer might sue, based on published reports several months earlier.
08/30/2012
A case that has been pending for over three years, S.E.C. v. Arthur Nadel, has been somewhat resolved.
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The proposal is driven by a law that repealed a ban on pitching such investments to all but a select few investors, such as those accustomed to pumping cash into hedge funds.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’