17th April 2017
The current regulatory frenzy might slow the economy by pushing up borrowing costs and leaving smaller banks short of funds. The Chinese banking regulators are currently going through one of their periodic bouts of activity as they look to drive de-leveraging and reduce systemic financial risk. Read More
13th April 2017
The real world isn’t just good guys and bad guys. There’s a story behind every compliance problem, and even though it may not excuse anyone’s behavior, it should be a reminder that people just like us make mistakes — sometimes really big mistakes. That was the point of a unique… Read More
12th April 2017
Hong Kong Monetary Authority has imposed a HK$7 million (US$900,000) fine on Coutts & Co AG’s Hong Kong branch and reprimanded it for failing to follow anti-money laundering rules between 2012 to 2015, the authority said on Tuesday. An HKMA investigation found Coutts has breached five provisions of… Read More
12th April 2017
Customers of some of the city’s biggest lenders risk having their accounts suspended if they fail to fully disclose all the relevant information, under tighter money-laundering laws being introduced by the end of March next year. The levels of current scrutiny, however, still vary widely across the sector,… Read More
12th April 2017
A secret recording that implicates the Bank of England in Libor rigging has been uncovered by the BBC. The 2008 recording adds to evidence the central bank repeatedly pressured commercial banks during the financial crisis to push their Libor rates down. Libor is the rate at which banks lend to… Read More
12th April 2017
Whistleblowing charities and law firms have called for companies to offer more protection to workers who flag up internal problems after the chief executive of Barclays attempted to track down the author of anonymous letters. Jes Staley is being investigated by financial regulators and faces a significant cut to his… Read More
11th April 2017
One reason major banks are pruning their correspondent relationships may be that so many are under enforcement actions – deferred prosecution agreements (DPAs) and consent orders, some stretching back years, perhaps even already extended – their risk appetite has reduced lest they find themselves in the firing line again, this… Read More
11th April 2017
Around nine years ago, the US investment bank Bear Stearns was in trouble, finding increasing reluctance on the part of markets to provide the liquidity it needed to continue operations. In March 2008 the Federal Reserve intervened heavily to give the bank a lifeline. Two months later, the bank was… Read More
10th April 2017
Bank of England Governor Mark Carney said on Friday that planned changes to financial regulation in the United States did not appear to amount to a wholesale rolling back of rules that would endanger international cooperation. U.S. President Donald Trump wants to reverse some financial regulation that he says restrains… Read More
10th April 2017
CEO of Barclays Plc Jes Staley is being investigated by the Prudential Regulation Authority and the Financial Conduct Authority (FCA) for breaking rules about the treatment of whistleblowers. Read More