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Goldman Said To Get Subpoena From NY Prosecutor

Christine Harper Interview Still

Goldman Sachs Group Inc., the fifth-biggest U.S. bank by assets, received a subpoena from the Manhattan District Attorney’s office seeking information on the firm’s activities leading into the credit crisis, according to two people familiar with the matter.

FINRA Fines Northern Trust Securities $600,000

Northern Trust Logo

The Financial Industry Regulatory Authority (FINRA) has announced that it has fined Northern Trust Securities $600,000 for deficiencies in supervising sales of collateralized mortgage obligations (CMOs) and failure to have adequate systems in place to monitor certain high-volume securities trades.

E7 Banking Markets To Overtake G7 Earlier Than Projected

Hong Kong

The combined domestic banking assets of the 'E7' emerging economies of China, India, Brazil, Russia, Mexico, Indonesia and Turkey will exceed those in the 'G7' countries sooner than predicted before the financial crisis, according to PwC’s ‘Banking in 2050’ report. The G7 comprises the US, Japan, Germany, the UK, France, Italy and Canada.



Barclays Sign

Barclays, RBS, and Lloyds downgraded

Royal Bank of Scotland, Barclays and Lloyds were downgraded by ratings agency Standard & Poor's on Tuesday amid fears the UK government will refuse to offer them financial support in the event of another crisis.