A former Citigroup foreign exchange trader is to challenge his dismissal at a London court on Tuesday, potentially the first of many such cases in the wake of the currency market rigging scandal.
China is planning a “circuit breaker” mechanism to prevent any further losses on its volatile stock markets.
More than 2,000 City financiers took home more than £730,000 (€1m) in 2013, according to the EU banking regulator. One was handed more than £13m.
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John Gallo, a former senior salesman at Citigroup before leaving in March, is joining Deutsche Bank as head of fixed-income sales for the Americas.
Entertainment banker Lisbeth Barron is going it alone.
Massachusetts’ chief securities regulator is investigating a technology failure that caused delays in the pricing of mutual funds and exchange-traded funds for several days last month.
Nomura and Royal Bank of Scotland have agreed to pay up to $33m on top of $806m that a U.S. judge ordered them to pay for making false statements in selling mortgage-backed securities.
Credit Suisse was ordered by a Texas judge to pay Highland Capital Management $287.5m for losses on a $540m refinancing of a shaky real estate development.
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The U.S. Securities and Exchange Commission is being helped by a whistle-blower in an investigation of Deutsche Bank’s post-crisis mortgage-trading business, according to people with knowledge of the situation.
Schroders has hired former Nomura Chief Financial Officer Shigesuke Kashiwagi as its country head for Japan.