The City watchdog has hit financial firms with nearly £1.5bn of penalties so far this year – more than three times the record level of fines it levied in 2013.
A Senate hearing on the Federal Reserve’s oversight of banks turned into a roast of New York Federal Reserve president William Dudley, who tried to fend off complaints from several angry senators and counted not one supporter on his side.
Federal Reserve Board Governor Daniel Tarullo argued Friday that financial-firm compliance enforcement hasn't been stiff enough and that tougher action on the part of the Fed and other regulators was likely needed.
“The banking industry has changed dramatically”.
Britain abandoned a bid to overturn a European Union ban on banker bonuses of more than twice fixed pay after it suffered a setback in the EU’s top court.
Steven A. Cohen’s firm will stop collecting employees’ best trading ideas for a central investment pool and rewarding them with a special bonus, a practice that the U.S. government said created wrong incentives at his former hedge fund SAC Capital Advisors.
UBS secured support from its investors to swap 90% of their shares into a new holding company under a plan to spare taxpayers another bailout of the bank.
The U.S. Securities and Exchange Commission resolved an impasse over punishing Bank of America in a mortgage-bond case, clearing the way for the lender to complete a $16.7bn global settlement, people familiar with the matter said.
• Worldwide M&A tops the $3 trillion mark for the first time since 2007
Humbled bond manager Bill Gross just got a vote of confidence from one of the most successful investors of all time.
A number of leading investors in Barclays are to demand showdown talks with the bank's top independent director over its shock decision to slash its dividend for the next two years.
The world's richest man can spend his money on anything, but he says he stays away from buying clothes or jewelry for himself.
The Securities and Exchange Commission has announced the payment of almost $2m to three whistleblowers.