JPMorgan has tentatively agreed to pay the Department of Justice a record $13bn settlement to resolve several civil probes relating to residential mortgage-backed securities — a costly deal that still doesn’t protect the bank against additional criminal prosecutions.
As Steven Cohen nears a settlement that may put his SAC Capital Advisors out of business over allegations of insider trading, some of his overseas portfolio managers aren’t waiting.
Morgan Stanley won the dismissal of a suit filed by the lender Dexia, which accused the bank of misrepresenting information about loans underlying more than $600m in mortgage-backed securities.
A British High Court judge criticized the liquidators of U.S. fraudster Bernard Madoff's London company in a judgment on Friday that dismissed their $40 million civil claim against his brother, son and former directors of the firm.
Raoul Weil, the fugitive former head of UBS’s global wealth management business, was arrested in Bologna after checking into a hotel under his own name and triggering an alert to Italy’s authorities.
The Royal Bank of Scotland is to be broken up by the Government into a 'good bank' and a 'bad bank' with the go-ahead to be given within the next few weeks, the Chancellor has disclosed.
JPMorgan Chase, eager to put a raft of mortgage-securities litigation behind it, is close to reaching a $13 billion settlement with the U.S. government, according to people familiar with the situation.
The new boss of Royal Bank of Scotland has sought to reassure staff about the result of an on-going review into whether to hive off a "bad" bank out of the bailed out lender.
Britain's biggest bank, HSBC, has been ordered to pay $2.5bn (£1.5bn) by a court in Chicago in the largest class action judgment in legal history.
Ernst & Young has agreed to pay $99m to former Lehman Brothers investors who have accused the auditor of helping Lehman misstate its financial records before the investment bank's collapse triggered a financial crisis in 2008.
BNP Paribas has named Frederic Janbon to head up asset management, returning the former chief of fixed-income operations to a leadership role after a stint as special adviser.
Tom Hayes, the former UBS trader convicted of manipulating Libor, blamed his losses on other banks fixing the benchmark rate after a bad trading day in 2007, according to online chats shown at a London trial Wednesday.
Tidjane Thiam, Credit Suisse’s new CEO, pledged to prioritize wealth management over investment banking and asked investors for $6bn of capital as he put his imprint on the bank.