Nice work if you can get it.
Societe Generale had turned the page on Jerome Kerviel’s record trading fraud. Until yesterday.
Regulators have fined a trader more than £660,000 ($1.09m) for deliberately manipulating the UK bond market.
Hoping to boost surveillance in the wake of numerous insider-trading investigations that ultimately ended its life as a public hedge fund, SAC Capital has hired a Silicon Valley data miner that has done work for the Central Intelligence Agency and the Federal Bureau of Investigation in order to keep closer tabs on its own employees.
Javier Martin-Artajo, the former JPMorgan banker fighting U.S. extradition from Spain over trading losses that surpassed $6.2bn, is challenging the U.K. financial regulator in London.
Deutsche Bank is on track to meet its 2015 targets in investment banking, it said on Thursday after restating its 2013 results to include around $487m of settlement costs and around $69m to cover impaired assets.
Investment banks should have known about foreign-exchange traders using chat rooms that had the potential to rig currency prices, the head of the U.K.’s financial regulator said.
Royal Bank of Scotland must face a U.S. lawsuit seeking to force it to cover losses suffered by a bond insurer on a $1.15bn securities offering backed by allegedly defective and fraudulent home loans.
Analysts at HSBC’s house broker have advised clients to sell the shares of the lender, warning of the risks to the bank from a slowdown in Asia.
Nothing - so they say.
JPMorgan agreed to pay $150m to settle investor claims that it hid from them as much as $6.2bn in losses caused by a trader dubbed the London Whale.
A former Royal Bank of Scotland bond trader pleaded guilty to lying to customers in order to get them to pay higher prices as the U.S. continues probing tactics used in the market for complex debt -- undaunted by an appeals court’s rejection of a key conviction.
UBS has beefed up compliance for its Australian business after the country’s securities regulator ruled the bank’s controls covering its research department were inadequate.