News
Banks face suit from US fund over mis-sold subprime loans
Fifteen banks accused of mis-selling mortgage-backed securities
Former Société Générale manager fined for insider trading
Jean-Pierre Mustier fined €100,000
DBS Bank agrees compensation for Hong Kong Lehman notes
Securities and Futures Commission accuses DBS of inappropriately selling high-risk products to low-risk profile investors
Goldman Sachs to pay $550 million to settle SEC lawsuit
US bank receives the largest fine the SEC has ever imposed on a financial entity
Three ordered by High Court to pay £115 million to UK FSA
Three ordered to pay up for accepting deposits without FSA approval
Simple payoffs and short terms remain popular as investors play it safe
Incapital, Barclays and Gilliat all launched three products each in the past two weeks, most of which focused on the FTSE 100 index as investors continue shy away from risky investments
RBC Wealth Management creates new private client division in the UK
Philip Harris is to head the newly created Private Client Wealth Management team as RBC continues to build on its platform in the UK
Credit Suisse launches AES velocity in Singapore allowing trades under one millisecond
Credit Suisse has launched an ultra-low latency direct market access speed that will give investors to trade Singapore-listed equities in under one millisecond.
BNP Paribas tempts investors with forex basket
BNP Paribas has launched a commodity currency basket designed to promote foreign exchange and persuade investors of the benefits that come with the asset class
US puts Canadian pipeline decision on hold
The US Department of State has extended an inquiry into a major crude oil pipeline expansion that could transport 1.1 million barrels per day from Alberta, Canada, to refineries on the US Gulf Coast
Cebs updates op risk compendium; internal governance guide coming
Updated op risk compendium contains guidelines on op risk mitigation; internal governance guidelines on the way
Robeco: Bond ETFs hampered by low liquidity
Illiquidity in corporate bond markets make it hard for firms to generate index-like returns
Cesr reveals European financial markets risks, including double-dip recession worry
The Committee of European Securities Regulators (Cesr) has made public for the first time its analysis of trends, risks and vulnerabilities in financial markets
FTSE and CNBC launch Asia-Pacific blue-chip stock index
Index provider FTSE and news group CNBC have partnered in a venture to bring a blue-chip regional benchmark index that includes Japan to the Asia-Pacific market
ECB closes in on inferior collateral with new haircut scheme
European Central Bank’s new discount schedule increases haircuts levied on troublesome collateral, such as asset-backed securities; analysts expect move to discourage pledging of risky assets
Statoil stung by hedging derivatives losses
Norwegian oil and gas giant Statoil's results are hit by major losses on hedging derivatives in spite of a rise in profits and production
Changing Hats, August 2010
The movers and shakers in the op risk professions
Cesr outlines transparency plans for Mifid revision
European oversight committee lists advice on new financial market rules
UAE firm sues MD over bonuses
Claims director mis-stated profits in order to collect bonus
Daiwa boosts derivatives business with hire of Lo and Petit-Pasquier in Hong Kong
Daiwa Capital Markets has bolstered its expanding Hong Kong franchise with the recruitment of two more derivatives professionals
BP oil spill to boost alternative energy - fund manager
The fallout from BP's Gulf of Mexico oil spill will act as a boost for the alternative energy sector, says exchange-traded fund manager ETF Securities.
Deutsche’s Loh to run Asia CIB, including Japan and Australia
In Asia, Deutsche Bank's corporate and investment bank revenues account for more than 90% of total revenues, at €2.96 billion in 2009.
Investec launches boutique subsidiary to target wealth managers
Investec unveils its first boutique products aimed at the wealth and discretionary management market
Exclusive: Lloyds to seal raft of Norway energy deals
Lloyds Banking aggressively pushes into Norway with a range of energy financing deals for exploration and production (E&P), prepares to expands its Houston oil & gas team and looks at the European shale gas business