Banking
27th April 2018
A former HSBC Holdings Plc (HSBA.L) executive was sentenced to two years in prison on Thursday after he was found guilty by a jury of defrauding Cairn Energy Plc (CNE.L) in a $3.5 billion (£2.5 billion) currency trade in 2011. Mark Johnson, formerly head of HSBC’s global foreign exchange cash… Read More
27th April 2018
TSB has come under criticism for struggling to resolve its mobile and online banking problems, which have prevented customers from accessing their accounts, and has raised issues about data breaches. Customers have been complaining about being unable to pay bills, and issues around bank account security have also emerged. Read More
27th April 2018
Barclays said rising profits from its investment bank will be enough to restore capital levels depleted by misconduct fines in Britain and the United States, as the British lender announced a characteristically mixed set of first-quarter earnings. The earnings came a week after Barclays announced Chief Executive Jes Staley would… Read More
26th April 2018
Swiss bank Credit Suisse (CSGN.S) complies with sanctions regimes wherever it does business, Chief Executive Tidjane Thiam said after two U.S. senators demanded big banks disclose any links to rich Russians. “I can’t comment on the (senators’ request). But what I can tell you is we are in full compliance… Read More
25th April 2018
AP — A Democratic senator who supports rolling back some of the financial rules put in place after the 2008 financial crisis warned bankers Tuesday that the legislation will stall if it comes back to the Senate for another vote. Sen. Mark Warner’s comments are a warning shot… Read More
24th April 2018
British whistleblowers will be less likely to speak out, now that the chief executive of Barclays has been allowed to keep his job after trying to unmask an informant at the bank, another whistleblower and the head of a support group said on Friday. Jes Staley (BARC.L) escaped with a… Read More
24th April 2018
The European Commission has published plans to protect workers who blow the whistle on a wide range of EU law breaches, including money laundering, terrorist funding and financial services legislation. Currently, protection given to whistleblowers across the EU is fragmented and uneven,… Read More
24th April 2018
An Australian inquiry into financial sector misconduct claimed its first scalp on Friday as the CEO of the country’s largest wealth manager stepped down over revelations of board-level deception and misappropriation of funds. The departure of AMP Ltd’s (AMP.AX) Craig Meller came as the government vowed to double prison terms… Read More
23rd April 2018
Barclays (BARC.L) said Jes Staley will be fined by British regulators for attempting to unmask a whistleblower, but will be able to keep his job as the bank’s chief executive. The country’s banking watchdogs concluded Staley’s attempt to find out who wrote a letter raising “concerns of a personal nature”… Read More
23rd April 2018
Arab countries have finalised plans to create an independent, regional cross-border payments system after current arrangements were hit by a rise in compliance costs and downsizing by some international banks. At present, many cross-border payments and settlements among Arab countries are carried out by correspondent banks, which act as agents… Read More