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Wells Fargo, HSBC, BNY Mellon and Deutsche sued

HSBC HQ London 3

Wells Fargo, HSBC, Bank of New York Mellon and Deutsche Bank were sued by an Irish securities firm that claims the banks failed to protect investors in their role as trustees of securities backed by home loans that defaulted after the 2008 credit crisis.

MF Global ordered to pay $1.2bn in restitution


The New York Federal Court ordered MF Global to pay $1.21 billion in restitution fees, in addition to a $100 penalty, for its unlawful use of customer funds, the Commodity Futures Trading Commission said Wednesday.



Tax & Business Calculator

C Suisse said in Italian tax probe

Credit Suisse is under investigation in Italy in connection with a case looking into allegations that the bank helped wealthy clients transfer undeclared funds offshore, Italian judicial sources said on Wednesday.

Citi Building Sign

Citi creates new group for fund clients

Senior investment bankers Zubaid Ahmad and Brad Coleman will be leading a new group at Citigroup focused on better serving clients that are private equity firms, hedge funds and sovereign wealth funds, according to a memo seen by Reuters on Wednesday.