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Latest News

Hackers drain DAO fund

Virtual currency fund, DAO, has been attacked by cyber criminals who were able to drain the fund of more than US$50m through a sustained attack on its system.

HSBC pays out US$1.5bn to settle crisis-era lawsuit

Like a great many other global financial institutions, HSBC is still being affected by the US sub-prime mortgages that became a catalyst for the global financial crisis more than a decade ago.

HK regulator fines State Street arm for tracker fund regulation failures

The Hong Kong Securities and Futures Commission (SFC) has reprimanded and fined State Street Global Advisors Asia Limited (SSGA) HK$4m for its failure to comply with regulatory requirements in relation to its tracker fund.

Goldman Sachs settles CDO lawsuit

Goldman Sachs and an Australian hedge fund have agreed to settle a long-standing US$1bn lawsuit for mortgage-linked securities related allegations including the infamous ‘Timberwolf’, an investment often referenced when discussing the financial crisis.

BNY Mellon fined US$30m for mispricing forex transactions

Despite having already settled US$714m worth of forex-related lawsuits, Bank of New York Mellon (BNYM) will now pay a penalty to the US Securities and Exchange Commission (SEC) for foreign exchange market violations spanning more than 10 years.

Explosion outside Blom Bank headquarters in Beirut

A bomb has exploded outside the headquarters of Blom Bank in Beirut, Lebanon, reports Aljazeera News.

Irish bank used to funnel cash in global bribes scandal

US authorities want to seize millions of dollars in bank accounts in Ireland, Luxembourg and Belgium believed to be the proceeds of corrupt payments from Uzbekistan made by two telecoms companies based in Russia.

Businessman sues RBS for £128m in conspiracy case

A former software company CEO is suing Royal Bank of Scotland for allegedly conspiring to push his business into administration in order to profit from its sale.

Six former Deutsche Bank employees convicted of carbon tax fraud

A court in Frankfurt has convicted six former Deutsche Bank employees of enabling tax fraud via the carbon emissions certificate trading scheme. One individual has been sentenced to three years in jail.

Bank of America and Credit Suisse pay Refco brokerage settlement

Bank of America and Credit Suisse have paid an undisclosed amount to settle with a number of victims of accounting fraud at former commodities, futures and foreign exchange broker, Refco.

Morgan Stanley pays US$1m SEC fine for stolen customer data

The Securities and Exchange Commission (SEC) has announced Morgan Stanley has agreed to pay a US$1m penalty for failure to protect customer information, some of which was hacked and offered for sale online.

CBA linked to market manipulation investigation

The Commonwealth Bank of Australia (CBA) is rumoured to the next in line for an investigation by financial regulators into alleged market manipulation.

 
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