HSBC: How Simple Became Complicated, and CostlyDecember 12, 2012HSBC takes its name from its roots as the Hongkong and Shanghai Banking Corporation, but there has long been a joke that the name stands for "How Simple Became Complicated."
Three British Men Arrested in UK Libor ProbeDecember 11, 2012Three British men were
detained in London on Tuesday in the first arrests stemming from
a global investigation into the manipulation of interbank
HSBC to Pay $1.9 Bln U.S. Fine in Money-Laundering CaseDecember 11, 2012HSBC has agreed to pay a record $1.92
billion fine to settle a multi-year probe by U.S. prosecutors,
who accused Europe's biggest bank of failing to enforce rules
designed to prevent the laundering of criminal cash.
US, UK Bank Seizure Plans Focus on Absorbing Losses - RegulatorsDecember 10, 2012Both the United States and
United Kingdom have developed viable approaches to seizing and
unwinding failing global financial institutions, but more work
is needed on the UK side to ensure that losses can be adequately
absorbed, American and UK regulators s
RBS: The Biggest Turnaround In Corporate HistoryDecember 07, 2012Royal Bank of Scotland
chief executive Stephen Hester has shrunk the bank by $1.1
trillion in four years, and can count on at least three years' work to finish the turnaround.
Goldman Sachs Fined $1.5 million for Trading GlitchDecember 07, 2012Goldman Sachs Group Inc
was fined $1.5 million to settle charges it failed to supervise
its traders and allowing one futures dealer to hide billions in
dollars from sight and causing a $118 million loss.
Citi Internet Exec Peluso Departs for GiltDecember 07, 2012Citi board member and Internet executive Michelle Peluso has been hired as chief executive at Gilt Groupe, as the e-commerce company prepares for a possible IPO.
Share Volume to Stay Low as Euro Crisis Hits IndustryDecember 05, 2012Trading in European equities is at its lightest since the euro zone debt crisis began and is set to stay low as shaky economies and stricter regulation shrink business for the financial industry.
SEC Charges China Affiliates of Top Accounting FirmsDecember 04, 2012U.S. regulators have
charged the Chinese arms of the world's five top accounting
firms with securities violations, raising tensions in a
regulatory standoff which experts say could kill off U.S.
listings for Chinese firms if not resolved.
Cerberus May Join Virtu Bid for Knight Capital -WSJDecember 04, 2012Cerberus Capital Management LP is in talks
to join Virtu Financial LLC's bid for U.S. brokerage Knight
Capital Group Inc, the Wall Street Journal reported,
citing people familiar with the discussions.