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How much will this decision cost firms ?

Paul Volcker Interview Pic

Wall Street banks, which already shut proprietary trading units that helped fuel record profits, are girding to learn next week how much revenue the Volcker rule may cut from the $44bn they say comes from market-making.

Banks hit with $2.3bn rate-rigging fine

The Captain Phillips Pirates

Some of the world's biggest banks have been hit with a 1.71 billion euros ($2.3 billion) fine for interest rate-rigging by traders, the largest fine ever imposed by the European Commission (EC).

Cohen unaware over source of dirty tips


SAC Capital Advisors fund manager Michael Steinberg told the analyst who gave him inside tips on Dell that the fund’s founder, Steven A. Cohen, wasn’t aware they were obtained illegally.