Santander

Basel implementation chief: no need for Basel III

Modifications being made to Basel II are sufficient to tackle the flaws in the framework and "we are certainly not going in the direction of Basel III", according to the chair of the standards implementation group of the Basel Committee on Banking…

Optimal pays $235 million to Madoff trustee

Optimal Investment Services, the Switzerland-based asset management arm of Banco Santander, has agreed to pay $235 million to the trustee responsible for liquidating Bernard Madoff's investment management firm, Bernard Madoff Investment Securities (BMIS).

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