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LATEST

Bank of America and Freddie Mac reach mortgage agreement

Brian Fonzie Moynihan

Bank of America announced on Monday that it had reached a settlement with Freddie Mac to resolve issues related to residential mortgages the bank sold to Freddie up to 2009, effectively ending all contractual disputes between the two on loans issued before the financial crisis.

2014 outlook for investment banking

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A much more positive tone is revealed in the fifth Outlook for Investment Banking Services, the annual survey of corporate decision-makers from Thomson Reuters and Freeman Consulting Services.

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Dog Detective

JPMorgan fined for regulatory breaches and / or internal control failings

The Securities and Futures Commission (SFC) has reprimanded J.P. Morgan Broking (Hong Kong) Limited (JPMBHK), J.P. Morgan Securities (Asia Pacific) Limited (JPMSAP) and J.P. Morgan Securities (Far East) Limited (JPMSFE) (collectively “JP Morgan”), and fined them $15m, $12m and $3m respectively for various regulatory breaches and/or internal control failings.

Departure

High-Yield funds go through challenging times

Lucidus Capital Partners, a high-yield credit fund founded in 2009 by former employees of Bruce Kovner’s Caxton Associates, has liquidated its entire portfolio and plans to return the $900m it has under management to investors next month, according to a statement Monday from the company.

Moscow Traffic

Deutsche Bank pays token fines over Russian mirror trades

Russia’s central bank fined Deutsche Bank less than $5,000 for compliance failures in a probe into alleged trading violations, said people with knowledge of the matter, after the Russian regulator audited transactions at the bank’s Moscow office that are under broader scrutiny by U.K. regulators and U.S. prosecutors.