The Financial Conduct Authority (FCA) has fined Standard Bank £7,640,400 for failings relating to its anti-money laundering (AML) policies and procedures over corporate customers connected to politically exposed persons (PEPs).
Sir Andrew Large, a former Deputy Governor of the Bank of England, said the way Royal Bank of Scotland runs its controversial global restructuring group is 'flawed'
UBS and JPMorgan are among at least four banks in talks to settle a third European Union probe into derivatives linked to benchmark rates such as Libor, according to three people familiar with the case.
The Securities and Exchange Commission has announced that a former Oppenheimer & Co. portfolio manager has agreed to be barred from the securities industry and pay a $100,000 penalty for making misrepresentations about the valuation of a fund consisting of other private equity funds.
The names of the U.S. and European banks at the center of a new interest rate-rigging probe will soon be named, Joaquin Almunia, the European Commission's vice-president and competition commissioner told CNBC.
Regulators are looking at Warren Buffett's Berkshire Hathaway to see if its failure would threaten financial stability, according to Bloomberg.
Antony Jenkins, the boss of Barclays, warned yesterday that there would be another financial crisis once the current crop of bankers, who bore the scars of 2008, had retired or died. "I don't think we're going to have another crisis like this in the next five years, but we will have another problem when all the people like us … have retired or died."
People will no longer earn more than peers in other industries simply because they work in finance.
Convicted fraudster Bernard Madoff is back in prison after being hospitalized for a heart attack last month, CNBC has learned.
Wall Street is in the biggest transition since the 1933 Glass-Steagall Act, and Morgan Stanley has put a strategy in place that's working, but the full results are not there yet, Chairman and CEO James Gorman said on CNBC's " Squawk Box " on Wednesday from the World Economic Forum in Davos, Switzerland.
WW M&A Breaks All-Time Record | Deals Over $10 billion Double | Healthcare, Energy Push US and Asia Pacific to All-Time Highs | Goldman Sachs Top Advisor
HSBC chief executive Stuart Gulliver has serious questions to answer after the bank's latest IT glitch left customers locked out of their online and mobile banking accounts, a leading MP has claimed.
There goes another hedge fund: it's been reported that Nevsky Capital is planning to close its $1.5bn flagship fund - with the fund's founders saying the market environment "is increasingly incompatible" with their investment process.