Here's the latest from our Highly Placed Professional.
Ponzi scheme mastermind Bernard L. Madoff’s brother Peter will plead guilty on June 29 to two federal charges as part of the U.S. investigation of fraud at the investment fund, prosecutors said.
Ed Miliband MP, Leader of the Labour Party, speaking to reporters in Brighton today said:
Barclays shareholders are to summon the senior independent director of the bank to urgent meetings following the record £290m fine levied by regulators for its attempts to manipulate interest rates.
There's hope yet.
A German banker was convicted Wednesday of taking an illegal payment worth $44m in connection with the sale of his firm's stake in the Formula One racing series.
Pressure is mounting on Bob Diamond, the boss of Barclays, as the Treasury prepared to make an emergency statement on events at the bank after it was hit with £290m penalties for manipulating key interest rates.
The Securities and Exchange Commission has filed fraud charges against New York-based hedge fund adviser Philip A. Falcone and his advisory firm, Harbinger Capital Partners LLC for illicit conduct that included misappropriation of client assets, market manipulation, and betraying clients.
Up to $9bn, which would put it at or near the top.
Morgan Stanley CEO James Gorman spoke with Bloomberg TV’s Erik Schatzker on 'Market Makers' this morning and said that Wall Street banks don’t need to be broken up.
The Financial Conduct Authority (FCA) has fined The Bank of New York Mellon London Branch (BNYMLB) and The Bank of New York Mellon International Limited (BNYMIL) (together ‘the Firms’) £126m for failing to comply with the FCA Client Assets Sourcebook (Custody Rules, or CASS), which applies to safe custody assets and to client money.
JPMorgan is concerned about loans that finance some leveraged buyouts, and is scaling back from what is a booming area, even as its overall loan portfolio grows, a top executive said in an interview.
Nomura has announced that UK regulators have formally approved the appointment of Jonathan Lewis as CEO for Europe, Middle East and Africa.