Search Results for: UBS AG
FINMA sanctions foreign exchange manipulation at UBS
November 12th, 2014
The Swiss Financial Market Supervisory Authority (FINMA) has concluded enforcement proceedings against UBS AG (UBS) regarding foreign exchange trading conducted in Switzerland. FINMA found that over an extended period of time the bank’s employees in Zurich at least attempted ...
Oil price slide threatens energy subsidies in Arabian Gulf states
November 10th, 2014
Low oil prices may lead Arabian Gulf states to issue additional debt and cut energy subsidies, according to the ratings agency Standard and Poor’s. “If there’s a prolonged oil price correction, corporate and government-related entities may have to change ...
UBS to settle over precious metals misconduct allegations as part of forex market rigging probe
November 10th, 2014
UBS are expected to strike a settlement with financial regulators over allegations of misconduct at its precious metals trading business. The settlement will form a part of a £1.5bn agreement the Swiss lender is due to make with five ...
Former UBS executive found not guilty in U.S. tax cheating trial
November 4th, 2014
A former top banker who headed global wealth management at UBS AG (UBSN.VX) (UBS.N) was found not guilty on Monday on U.S. charges of conspiring with wealthy Americans to hide $20 billion in secret offshore accounts. Raoul Weil, the ...
Saudi bank IPO 16 times oversubscribed
November 3rd, 2014
A share offer by Saudi Arabia’s National Commercial Bank was 16 times oversubscribed late on Sunday, in what one financial analyst called “the mother of all IPOs.” The initial public offering by the NCB, which was hoping to raise ...
Governments sign deal against tax evasion
October 30th, 2014
Fifty-one countries have pledged to pass on financial data after signing an agreement in Berlin to crack down on tax evasion. The transparency drive, which will launch the automatic exchange of tax information between countries, was hailed by finance ...
Australia 200 – Tries to Establish Itself Within 5400 – 5500 Range Again
October 29th, 2014
Australia 200 for Wednesday, October 29, 2014 Throughout most of September the Australia 200 Index declined strongly from its multi-year high after running into resistance around 5650 back to enter its previously established trading range between 5400 and 5500, ...
EU to fine JPMorgan, UBS, Credit Suisse over Swiss franc Libor rigging
October 21st, 2014
European Union antitrust regulators are set to fine JPMorgan (JPM.N), UBS (UBSN.VX) and Credit Suisse (CSGN.VX) collectively over $115 million for rigging Swiss franc Libor benchmark interest rates, a person familiar with the matter told Reuters. Royal Bank of ...
Ex-UBS Banker Tax Trial Rides on Underling’s Credibility
October 14th, 2014
Raoul Weil, once the head of UBS AG ’s global wealth management business, faces a criminal trial that may turn on the credibility of a former subordinate who says he and Weil helped Americans evade taxes. Jury selection is ...
SEC Charges Current and Former E*TRADE Subsidiaries With Improperly Selling Penny Stocks
October 10th, 2014
The Securities and Exchange Commission announced an enforcement action against current and former brokerage subsidiaries of E*TRADE Financial Corporation that failed in their gatekeeper roles and improperly engaged in unregistered sales of microcap stocks on behalf of their customers. ...
