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HSBC Sets up Financial Crime Compliance UnitDecember 10, 2012HSBC has promoted a
former U.S. official who headed sanctions action against drugs
traffickers and money launderers to be its head of financial
crime compliance, a new role.
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.
Deutsche Bank Directors to Question BoardDecember 07, 2012Deutsche Bank's
directors will question the management board over claims the
lender failed to recognize billions of euros in unrealized
losses during the financial crisis, two sources said.
SEC Partially Lifts Moratorium on Actively Managed ETFDecember 07, 2012The U.S. Securities and Exchange
Commission is partially lifting an almost three-year-old
moratorium on applications for actively managed, exchange-traded
funds, creating an opportunity for fund managers to use
derivatives when they launch them.
'Black Box' Hedge Funds Buy Exchange Seats to Dodge BrokersDecember 06, 2012Some of the world's top
computer-driven hedge funds are buying exchange memberships to
trade directly on the biggest commodities and financial futures
markets, saving on the sizeable commissions normally paid to
French Banks Eye U.S. Expansion After Year of CutsDecember 05, 2012France's top banks are taking
advantage of calmer markets to return to expanding in the United
States, a year after deep cuts to their investment banks saw
them lose ground to rivals in the world's biggest financial
Morgan Stanley Trader Was Probed at Goldman: SourcesDecember 04, 2012Morgan Stanley hired former Goldman Sachs
trader Edward Glenn Hadden to run its Treasury bond desk last
year, even though his former employer had placed the trader on
paid leave for about a year following an internal inquiry, said
three people familiar wit
Cerberus May Join Virtu Bid for Knight Capital: ReportDecember 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.
Credit Suisse Boss On Borrowed Time: SourcesDecember 03, 2012Credit Suisse boss Brady
Dougan has outmaneuvered an internal rival with his recent
revamp of the Swiss bank and management shake-up but is still on
borrowed time, senior banking sources say.
Key Debt Limit Options, Dates for U.S. TreasuryNovember 30, 2012President Barack Obama and
his Democrats are insisting that an increase in the $16.4
trillion U.S. debt limit be part of any deal to avert the
"fiscal cliff" of year-end tax hikes and automatic spending
Investors Swarm into Stock ETFs Amid "Fiscal Cliff" Hopes—LipperNovember 30, 2012Investors in U.S.-based
funds have pumped the most new money into stock exchange-traded
funds since mid-September, while adding to bond funds amid
growing optimism U.S. lawmakers will avoid the looming "fiscal
cliff" of tax hikes and spending cuts.
At White House, CEOs Offer Support for Higher Tax RatesNovember 29, 2012Chief executives from
corporations such as Goldman Sachs and Deloitte LLP met
with President Barack Obama on Wednesday and offered support for
resolving U.S. fiscal problems with an approach that included
higher tax rates for wealthy Americans.
Fidelity Pushes BNY Mellon for Better FX PricingNovember 29, 2012Fidelity Investments is pushing
BNY Mellon Corp and other custody banks for stricter
pricing on certain foreign currency trades, the latest sign of
how big investment managers are using the same tactics as public
pension funds to cut expenses.
CME Says No Plans to Shut Grains Floor TradingNovember 28, 2012The CME Group, the
biggest operator of U.S. futures exchanges, has no plans to shut
open-outcry trading pits but will not change new price
settlement rules for grains despite a lawsuit by a group of
traders, its CEO said on Wednesday.
Intrade Cuts Out US Customers After Regulatory SuitNovember 27, 2012Prediction market Intrade,
which allows spectators to bet on subjects ranging from
entertainment to elections, said on Monday it will no longer
accept U.S. customers because of what it called legal and