Search Results for: regulators
Shanghai Stock Exchange Planning Startup Market
May 20th, 2015
New market to host firms in sectors favored by Beijing for building an innovation-driven economy The Shanghai Stock Exchange is on track to inaugurate a new market for small, innovative companies as soon as this year, which will challenge ...
UBS to Plead Guilty on Libor, Fined by Fed in Currency Probe
May 20th, 2015
UBS Group AG said its main unit will plead guilty to fraud in the U.S. for manipulating benchmark interest rates and pay $203 million in fresh fines after the Swiss bank violated an agreement that had allowed it to ...
IFRS 9 could hike banks’ loan loss provisioning by 50%
May 19th, 2015
BANKS could be forced to set aside as much as 50% more capital to cover possible future losses from bad loans under new accounting rules on credit exposures, research by Deloitte has found. According to Deloitte’s Fifth Global IFRS Banking ...
Barclays to settle £2bn forex case
May 18th, 2015
BARCLAYS Bank is closing in on a major £2bn settlement with regulators around the world, drawing to a close its role in the deeply damaging foreign exchange markets rigging scandal. The bank, whose chief executive is Antony Jenkins, is attempting ...
U.S. SEC a stumbling block in banks’ forex guilty pleas – sources
May 15th, 2015
Banks want assurances from U.S. regulators that they will not be barred from certain businesses before agreeing to plead guilty to criminal charges over the manipulation of foreign exchange rates, causing a delay in multibillion-dollar settlements, people familiar with ...
ASIC blocks forex broker’s IPO
May 14th, 2015
The corporate watchdog has blocked the potential float of an online foreign exchange broker, FX Primus, as concerns mount about the prevalence of brokers setting up shop in Australia to target forex punters in the region. FX Primus Group ...
UBS Guilty Plea for Libor Seen Opening Door to Political Battle
May 14th, 2015
UBS Group AG faces the prospect of making a guilty plea that would require it, along with four other giant global banks, to seek U.S. regulators’ permission to keep managing Americans’ money. Several law experts said that UBS may ...
KPMG report reveals that Guernsey funds facilitate £25 billion of inward investment to the UK from global investors
May 13th, 2015
International Capital Flows, a report commissioned by the States of Guernsey and supported by Guernsey Finance, has analysed the economic benefits provided to the UK and Europe by the Guernsey funds market. The majority of the inward investment is ...
U.S. Set to Rip Up UBS Libor Accord, Seek Conviction
May 13th, 2015
The U.S. Justice Department is set to rip up its agreement not to prosecute UBS Group AG for rigging benchmark interest rates, according to a person familiar with the matter, taking a new step to hold banks accountable for ...
Bank parents or main units seen pleading guilty over FX: sources
May 12th, 2015
The parent companies or main banking units of as many as five major banks, rather than their smaller subsidiaries, are expected to plead guilty to U.S. criminal charges over manipulation of foreign exchange rates, people familiar with the matter ...
