Cyber threats continue to impact private banking
Cyber security is a pressing issue for all but the foolhardy. An attack can have devastating effects, not just in the information that is stolen but in the damage to…
Regulation & Compliance
Morgan Stanley agrees to pay $60m to settle data lawsuit
American banking giant Morgan Stanley has reportedly agreed to pay $60m to settle a lawsuit…
BaFin fines $9.8m on Deutsche Bank over control lapses in Euribor interest rate
Germany’s financial regulator has imposed an administrative fine of $9.8m on Deutsche Bank for controls lapses associated with the Euribor…
Barclays gets regulatory nod to operate as a foreign ADI in Australia
British banking behemoth Barclays has secured a licence from the Australian Prudential Regulation Authority (APRA) to operate as a foreign…
JP Morgan hit with $200m fine for work communication violations
JP Morgan Chase & Co. has been fined $200m by the US financial regulators after its executives were found using…
Indian regulator sets new procedure for co-investment portfolio management service
The Securities and Exchange Board of India (SEBI) has laid out a new procedure for managing co-investment services through portfolio…
UBS agrees $55.7m settlement in Belgian tax evasion case
UBS has reportedly agreed to a €49m ($55.7m) settlement with Belgian tax authorities in an alleged tax evasion case occurred between 2005 and 2013. The settlement comes in connection with…
China banks to limit sale of wealth management offerings following risk concerns
Chinese regulators have reportedly instructed banks to cap the sales of wealth management products following concerns over the sudden boom of the business in the country. Some small banks were…
Singapore proposes regulatory changes in favor of retail investors
The Monetary Authority of Singapore (MAS) has proposed to classify certain investment products as complex in a bid to increase the protection for retail investors. A consultation paper issued by…
Barclays chief steps down following Epstein probe
Barclays CEO Jes Staley has reportedly stepped down from his role following a controversy over his relationship with financier and convicted sex offender Jeffrey Epstein. Epstein, who was in jail…
Singapore’s Saxo Markets receives two new licences in Hong Kong
Singapore-based online trading and investment specialist Saxo Capital Markets HK has secured two new licences from the Securities and Futures Commission (SFC) of Hong Kong. The firm, which already holds…
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