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HSBC fined over Swiss private bank

Money On Hook

HSBC will pay $12.5m to resolve charges that its Swiss private banking unit illegally offered services to U.S. clients without being properly registered, the U.S. Securities and Exchange Commission said on Tuesday.

Fund managers must block absurd BG Group pay deal

Pot Of Gold

‘Excessive, inflammatory and a red rag to the enemies of the free market.” The rocket fired at BG Group by Simon Walker, director general of the Institute of Directors, hits its mark. A pay package of up to £25m for incoming chief executive Helge Lund is absurd, even by modern boardroom standards, and should be rejected by BG’s shareholders.



Russia Flag

C Suisse dragged into Russian client dispute

Credit Suisse has been dragged into a second criminal complaint brought by two Russian clients who claim that a former manager in the bank’s wealth management unit made unauthorized transactions to cover up trading losses.