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CFTC orders Merrill Lynch Commodities, Inc. to pay $25 million for spoofing and manipulation in precious metals futures

The Commodity Futures Trading Commission (CFTC) today issued an Order filing and simultaneously settling charges against Merrill Lynch Commodities, Inc. (MLCI), a provisionally registered swap dealer, for spoofing, manipulation, and attempted manipulation over a six-year period with respect to certain precious metals futures contracts traded on the Commodity Exchange, Inc. (COMEX).

Scandal-plagued Danske Bank fires Danish head over high fees

Danske Bank, which is struggling to restore public confidence after a huge money laundering scandal, said Monday it had fired its head of banking in Denmark over exorbitant fees charged for an investment product.

UOB banking customers hit by near 2-hour service outage affecting ATMs, mobile app

Customers of United Overseas Bank (UOB) were unable to access several banking services for close to two hours on Saturday (June 22).

FCA fines Bank of Scotland for failing to report suspicions of fraud at HBOS Reading

The Financial Conduct Authority (FCA) has today fined Bank of Scotland (BOS) £45,500,000 for failures to disclose information about its suspicions that fraud may have occurred at the Reading-based Impaired Assets (IAR) team of Halifax Bank of Scotland.

Former UBS China banker given nine years in prison for insider trade

A former UBS banker in China has been sentenced to nine years in prison by a Shanghai court for disclosing inside information related to an acquisition deal in 2017, court documents show and sources with knowledge of the case said.

Desjardins says personal data of 2.9 million members breached

Canadian lender Desjardins Group said on Thursday an unauthorized use of internal data by an employee led to breach of personal information including social insurance number, address and details of banking habits of more than 2.9 million members.

Danske Bank in new money laundering scandal

Two years after Danske Bank landed in hot water over the money laundering scandal at its Estonian subsidiary, the embattled bank has come under fire once again.

The SEC just dinged another Wall Street firm in a probe that's claimed more than $400 million in fines

Wedbush Securities is the latest firm ensnared in an ongoing Securities and Exchange Commission investigation around mishandling so-called "pre-released" American Depositary Receipts.

Old Mutual sacks chief executive

South Africa-headquartered Old Mutual and Old Mutual Life Assurance Company have sacked their chief executive Peter Moyo.

Nordea's Danish offices raided in money laundering probe

The Nordic region's largest bank Nordea said Monday that Danish prosecutors had raided its offices in Denmark as part of an investigation into money laundering.

Accountant fined £4.5m over audit flaws

PWC and two of its partners have been fined a total of £4.83 million by the audit regulator over a £25 million hole in the books of an IT services company that caused its shares to crash.

Australian regulator slaps stricter conditions on AMP's pension funds, shares fall

Australia's banking watchdog on Friday said it had imposed stricter licensing conditions on AMP Ltd's pension fund units following concerns regarding its compliance with superannuation laws, sending its shares down more than 4%.

 
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