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UBS Is Rooting Out Negative Elements

UBS Fractured

UBS is in the process of rooting out 'negative elements' of its corporate culture after the firm was fined $1.5bn by regulators for trying to rig global interest rates, said Andrea Orcel, chief executive officer of the investment bank.

Hedge Fund Said Raising Bonuses Amid U.S. Insider Probe

Pot Of Gold

SAC Capital Advisors LP is raising bonuses for its portfolio managers by 3 percentage points to help retain employees as the U.S. government’s insider-trading probe moves closer to Steven A. Cohen’s $14b hedge fund, according to a person familiar with the matter.



SEC Building

SEC charge KKR with 'misallocating' funds

The Securities and Exchange Commission has charged Kohlberg Kravis Roberts (KKR) with misallocating more than $17m in so-called 'broken deal' expenses to its flagship private equity funds in breach of its fiduciary duty.