A former JPMorgan trader has filed an appeal with a London tribunal court to challenge civil findings made by Britain's financial watchdog against the bank over the 'London Whale' debacle of 2012, the Financial Times reported on Sunday, citing tribunal records.
Total fines issued by the Financial Conduct Authority have fallen in the first half of 2014 compared with the same period of 2013.
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Barclays, which is facing allegations of fraud in the US, is setting up an academy with Cambridge Judge Business School where it will send all 2,100 of its compliance staff for specialised training by academics ranging from philosophers to lawyers.
BoE Governor Mark Carney has announced his next big shake up: scrapping the central bank's annual cricket match.
Richard Mellon Scaife, the billionaire heir to the Mellon banking and oil fortune and a newspaper publisher who funded libertarian and conservative causes and various projects to discredit President Bill Clinton, has died. He was 82.
Morgan Stanley has bought Deutsche Bank's bulk commodities trading book dealing in coal, iron ore and freight forward contracts to expand in commodities derivatives, a source familiar with the matter said on Thursday.
JPMorgan unwittingly helped BNP Paribas violate U.S. sanctions as the bank hid billions of dollars in transactions involving Sudan and Cuba, according to court documents and people with knowledge of the matter.
President Barack Obama’s critique of trader bonuses at Wall Street banks as still risky to the economy drew objections from financial executives who said the compensation system already has been fixed.
Bank of America was raised to buy from sell by Mike Mayo, an analyst at CLSA, who said the company’s low valuation and “lousy” efficiency increase the chance shareholders will demand a spin-off or other type of restructuring.
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Dougal Brech, the European co-head of prime services at Credit Suisse, is leaving, the bank said, as it scales back the unit that caters to hedge funds.