Page 2195 


HSBC & Another Revamp

Make Up Tools

The Wall Street Journal reports that HSBC staff and stockholders are getting ready for CEO Stuart Gulliver's 'revamp' - the latest in a long line of restructurings over the years, which has seen the bank enter and exit businesses (mainly in the investment bank), invest in US subprime and then pull back, and dip its toe in the water in US retail banking.

Rumours Of Mass Defections At Top Firm Are Greatly Exaggerated

This Big Exagerate

From reading the press in recent weeks, you could be forgiven for thinking that UBS, especially UBS Investment Bank, is having a hard time of it keeping its senior staff. Hardly a week seems to go by without a retirement, departure or resignation. But that's not actually the case.

FSA Welcomes Announcement Of Independent Reviewers For RBS Report

Magnifying Glass

The Financial Services Authority (FSA) has welcomed the statement from the Treasury Select Committee Chairman Andrew Tyrie which confirms that in agreement with the FSA, the Treasury Select Committee (TSC) has asked Sir David Walker and Bill Knight to conduct an independent review of the report which the FSA is producing into the failure of Royal Bank of Scotland (RBS).

Wells Fargo Advisors Fined $1m For Delays In Delivering Prospectuses For Up To 153 Days


WASHINGTON — The Financial Industry Regulatory Authority (FINRA) has announced that it has fined Wells Fargo Advisors, LLC of St. Louis, $1 million for its failure to deliver prospectuses in a timely manner to customers who purchased mutual funds in 2009, and for delays in reporting material information about its current and former representatives, including arbitrations and complaints involving its representatives.