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HSBC fined $470m for ‘abusive mortgage practices’ during 2008 crisis

08/02/2016(0)
Settlement with US Department of Justice centres on allegations that bank ‘robo-signed’ thousands of foreclosure documents without reviewing paperwork HSBC has been fined $470m (£325m) for “abusive mortgage practices” in ... Read More
Markit

UBS selects Markit for index administration

26/01/2016(0)
  Markit today announced that it has been engaged to administer and calculate UBS Investment Bank’s investible indices. Xavier de la Porte du Theil, head of Investment Strategies Structuring at ... Read More
The corporate logo of financial firm Morgan Stanley is pictured on a building in San Diego

Morgan Stanley Appoints 156 New Managing Directors

26/01/2016(0)
Morgan Stanley (NYSE: MS) has announced the appointment of 156 Managing Directors.  The new Managing Directors are: Alex Abagian Juan A. Abril Tobias Åkermark Shotaro Akita Carlos Andrade Michael ... Read More
JPMorgan

Goldman Sachs and Morgan Stanley Cut Chiefs’ Pay

25/01/2016(0)
Goldman Sachs and Morgan Stanley have both cut the pay packages of their chief executives after a year when Wall Street was challenged by increased regulation and market turmoil. Goldman Sachs, the ... Read More
Banks

Europe’s big banks remain wary of doing business with Iran

25/01/2016(0)
Sanctions have been lifted but uncertainty over US authorities’ stance means banks are reluctant to handle payments A week after the lifting of sanctions against Iran, major European banks are still ... Read More
libor

Six Banks Negotiating Settlement in Swiss Libor Probe

25/01/2016(0)
Swiss regulator: `We won’t go for a settlement at any price’ Settlement would resolve one of few remaining Libor probes At least six banks targeted in Switzerland’s investigation into ... Read More
FCA_regulator

New Bank Start-up Unit launched by the financial regulators

22/01/2016(0)
The Prudential Regulation Authority (PRA) and FCA have launched the New Bank Start-up Unit. The Unit is a joint initiative from the UK’s financial regulators giving information and support ... Read More
blockchain

R3 brings eleven major global financial institutions together on a cloud based distributed ledger

21/01/2016(0)
Financial technology innovation company, R3 CEV, today announced the successful completion of a ground breaking distributed ledger experiment involving eleven of the world’s largest financial institutions. R3 and consortium ... Read More
bank-of-england-getty

PRA takes enforcement action against former Co-op Bank individuals

18/01/2016(0)
The Prudential Regulation Authority (PRA) has today prohibited Barry Tootell, the former Chief Executive (CEO) of the Co-operative Bank Plc (Co-op Bank) and Keith Alderson, the former Managing Director ... Read More
blomberg

Switzerland Weathers the Superstrong Franc

15/01/2016(0)
It was in a small, wood-paneled boardroom overlooking Lake Zurich that Thomas Jordan and his colleagues at the Swiss National Bank made a decision that caught global markets unawares, ... Read More
Broker Cyprus TopFX