Here's a quick look at what happened in the industry in Q2 2011.
J.P. Morgan Securities agreed to pay $153.6m to settle SEC charges that the firm misled investors in a complex mortgage securities transaction just as the housing market was starting to plummet.
Hedge fund guru John Paulson is said to have taken one of the biggest trading baths ever, allegedly losing up to $720m in the position he took in Chinese commercial forest plantation operator Sino-Forest.
Former Galleon Group LLC hedge fund trader Zvi Goffer was convicted on all counts by a federal jury in Manhattan in the second trial to result from the U.S. government’s nationwide crackdown on insider trading.
HSBC entered into an agreement to pay $62.5m to settle claims against it in a class action pending in New York against various HSBC companies and numerous other defendants on behalf of investors in the Thema International Fund PLC, an Irish incorporated and authorised UCITS fund whose assets were invested with Bernard L Madoff Securities.
Former International Monetary Fund Managing Director Dominique Strauss-Kahn pleaded not guilty three weeks after his arrest on charges of sexually assaulting and trying to rape a Manhattan hotel maid.
CNBC Squawk on the Street founder and co-anchor Mark Haines, passed away at his home, aged 65.
A jury of 8 women and 4 men took a total of 11 days to find Galleon hedge fund founder Raj Rajaratnam guilty on all 14 counts filed against him (5 counts of conspiracy and 9 of securities fraud).
UBS agreed to pay $160m to settle SEC charges that UBS Financial Services Inc fraudulently rigged at least 100 municipal bond reinvestment transactions in 36 states and generating millions of dollars in ill-gotten gains.
Bank of America asks its staff for cost-cutting ideas.
Credit Suisse announces it has raised over $5.5m for Japan earthquake relief
The UK Independent Commission On Banking publishes its Interim Report
Former Macquarie Group Chairman David Clarke dies, at the age of 69.
UK Chancellor George Osborne officially opened the new EMEA headquarters of Nomura at One Angel Lane, London.