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RBS faces mortgage debt lawsuit

RBS building

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.

SocGen 'rogue trader' Kerviel heading for jail

Unhappy Face

Jerome Kerviel, the former Societe Generale trader who brought the bank to the brink of collapse in 2008 by placing bets worth $69.5 billion has been sentenced to at least three years in jail but will shed the title of 'most indebted man on earth' after six years of legal battles.



Money Roll

C Suisse said to file suit against UBS over poaching staff

Credit Suisse has filed an arbitration claim with the Financial Industry Regulatory Authority alleging that a unit of UBS unfairly poached staff from its U.S. private-banking business over the past several months, the Wall Street Journal reported, citing a person familiar with the matter.