Nomura Halves CEO Pay in Bid To Close Insider Probe
Nomura Holdings admitted to
sweeping breaches of safeguards on confidential client
information and will slash top executives' pay and briefly shut
an equity sales desk as Japan's largest brokerage seeks to
resolve a damaging insider trading probe.
Big Banks Craft 'Living Wills' in Case They Fail
Five of the largest US banks are putting finishing touches on plans for going out of business as part of government-mandated contingency planning that could push them to untangle their complex operations.
Inside The SEC’s Tech Department
The Commission has long been derided for being out-of-touch and poorly staffed, but the SEC has recently been quietly shaking things up in its technology department.
Twitter Double Outage Blamed On Bug
A double outage rocked Twitter on Thursday, as users worldwide reported significant down-time and slow service across the website and mobile applications of the microblogging platform.
Europe Slides, Dimon Smacks Dodd-Frank, and a Hedgie Loves Greece
In the same week that summer decided to show up in New York, other corners of the financial world were heating up as well. Jamie Dimon got a grilling from the members of the House of Representatives after last week's Senate Banking Committee tongue bath. Meanwhile, hedge finds managers gathered in Monaco to comment on the continent's slide to oblivion, while one US hedge find manager is placing all of his bets on – Greece?! Advanced Trading serves up the hottest quotes of this week.
Jamie Dimon In The House
The fawning may not have been as egregious as last week's Senate testimony but the JPMorgan CEO showed how to smooth over a hellaciously bad bet.
Dimon: JPMorgan Was Honest With Shareholders
JPMorgan Chase & Co
Chief Executive Jamie Dimon said his bank was upfront with
investors about its multibillion-dollar trading loss, even as
regulators investigate whether JPMorgan disguised a dramatic
rise in risk-taking.
Is Enforcing the Volcker Rule an Impossible Task?
In a Q&A with Advanced Trading, Nice Actimize's Stephen Anikewich explains why the Volcker Rule with be a major puzzle for banks and regulators alike, and whether this holds any relevance to the buy-side in the long-run.
SEC Chief Offers Regulatory Guide to JPMorgan
SEC Chairman Mary Schapiro will sketch a regulatory roadmap to JPMorgan Chase's recent huge trading loss, but will stop short of discussing the specifics of her agency's investigation with lawmakers.
Spain, Italy Demand Action as Debt Pressure Mounts
Spain called on Monday for
the European Central Bank to fight financial market pressures on
the euro zone, and Italy said more must be done to shore up the
bloc after the Greek election result failed to ease the strain
on both countries.
CME Agrees to Turn Over MF Global Property
CME Group Inc
reached an agreement to return $175 million in MF Global
Holdings Ltd property, a trustee in the bankruptcy of
the failed brokerage said on Thursday, $130 million of which is
earmarked for former customers of the firm.
Black Box Funds Soar in May Despite Markets' Slide
A clutch of algo-driven hedge funds have profited from steep market losses in May, outperforming other hedge funds in a welcome turnaround for the black box sector that has struggled recently amid volatile markets.
For One Protester, 'Occupy' Becomes a Way of Life
Seven months after Occupy Wall Street's eviction from Zuccotti Park, the round-the-clock encampment in lower Manhattan that was once the movement's center, one protester has created his own version of the communal living experiment in Brooklyn.
The Top Dimon Testimony Quotes
Yesterday, JPMorgan CEO and Wall Street Golden Boy Jamie Dimon testified before the Senate Banking Committee and critics are calling the session a veritable love fest. Even though he was called to explain his firm's stunning $2 billion (and counting) bet gone wrong, not a silver hair was ruffled on the CEO's head. Here's a selection of killer quotes from the CEO himself, a US senator who actually challenged him and media commentators who watched as Dimon swatted away the softballs without breaki
Deutche Bank Says Greek Exit From Euro Unlikely
thinks it is unlikely that elections in Greece this weekend will
lead the heavily-indebted country to leave the euro, the chief
financial officer of Germany's biggest bank said on Thursday.
Protesters Greet JPMorgan's Dimon In DC
JPMorgan Chase & Co Chief Executive Jamie Dimon's highly anticipated appearance before lawmakers on Wednesday got off to a rocky start with multiple protesters disrupting the event.
JP Morgan Knew London Traders Were A Problem
Despite his sterling reputation for risk management, JP Morgan CEO Jamie Dimon tolerated risky trades, loose limits and changes in its VaR out of the London chief investment office.
How the SEC Could Pursue a Case Against JPMorgan
JPMorgan Chase's failure to timely disclose a major change in how it measured risk could become the centerpiece for an enforcement action by U.S. securities regulators as they probe the bank in connection with its multibillion dollar trading loss.