Federal Reserve Board Governor Daniel Tarullo argued Friday that financial-firm compliance enforcement hasn't been stiff enough and that tougher action on the part of the Fed and other regulators was likely needed.
“The banking industry has changed dramatically”.
Britain abandoned a bid to overturn a European Union ban on banker bonuses of more than twice fixed pay after it suffered a setback in the EU’s top court.
Steven A. Cohen’s firm will stop collecting employees’ best trading ideas for a central investment pool and rewarding them with a special bonus, a practice that the U.S. government said created wrong incentives at his former hedge fund SAC Capital Advisors.
UBS secured support from its investors to swap 90% of their shares into a new holding company under a plan to spare taxpayers another bailout of the bank.
The U.S. Securities and Exchange Commission resolved an impasse over punishing Bank of America in a mortgage-bond case, clearing the way for the lender to complete a $16.7bn global settlement, people familiar with the matter said.
• Worldwide M&A tops the $3 trillion mark for the first time since 2007
Humbled bond manager Bill Gross just got a vote of confidence from one of the most successful investors of all time.
Chris Ronnie, the former boss of JJB Sports, has been found guilty of accepting more than £1m in backhanders from suppliers.
The Senate has rapped the Federal Reserve on the knuckles for the central bank’s failure to oversee big banks who bullied their way into dominant positions in commodities like copper and aluminum.
French Finance Minister Michel Sapin summoned Societe Generale’s top management for an unscheduled meeting Tuesday following media reports about the bank’s past dealings with a law firm.
Governments must urgently pursue more growth-friendly policies to shore up a weakening global economy beset with risks, the head of the International Monetary Fund has said.