Financial Services News
January 8, 2013
Wall Street Journal |
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January 8, 2013
Another search party has returned from the foreclosure litigation swamp. And once again, our brave regulatory first responders found few actual victims. But there is a virtue in Monday's $8.5 billion settlement between federal regulators and 10 giant banks over foreclosure practices. At least the regulators admit that most of the people due to receive compensation were never victimized.
Tags: Financial Services
January 7, 2013
Corporate Counsel |
January 7, 2013
Federal enforcers obtained a whopping $9 billion in corporate settlements in 2012—a record amount that surpassed the previous high set in 2006 by nearly $3 billion.
Tags: Financial Services
January 3, 2013
American Lawyer |
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January 3, 2013
Columbia Law School professor John Coffee Jr. looked at these trends and came to an intriguing conclusion: The SEC should admit when it's licked and team up with private contingency fee counsel.
Financial Times |
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January 3, 2013
The four largest international auditing firms are trying to persuade regulators that they are more vulnerable to negligence claims than they seem – as part of a broader campaign to stave off measures to dilute their market dominance.
Tags: Financial Services
January 2, 2013
Wall Street Journal |
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January 2, 2013
SEC Payouts for Tips, Foreign-Bribery Law, Patent Suits Top List of Concerns.
New York Times |
January 2, 2013
It is not really of question of whether there will be a major white-collar crime that captures the public's attention in 2013; it's a question of when and how costly it will be.
December 20, 2012
Wall Street Journal |
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December 20, 2012
The fines levied against UBS AG over attempts to manipulate interest rates could ultimately pale in comparison to the bill the Swiss firm and other rate-setting banks may face from private civil litigation.
Tags: Financial Services
Wall Street Journal |
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December 20, 2012
American and British regulators dropped the Libor hammer on UBS Wednesday, to the tune of $1.5 billion—or about three times the fine that Barclays paid to settle its Libor case this summer. That's a huge fine for an offense for which no great financial harm has been proven.
Tags: Financial Services
Wall Street Journal |
Subscription Required |
December 20, 2012
U.S. prosecutors charged two former traders at UBS AG on Wednesday with conspiring to manipulate a key global interest rate to boost profits, a rare case of senior bankers facing personal criminal liability for alleged misconduct before and during the financial crisis.
Tags: Financial Services
December 19, 2012
Wall Street Journal |
Subscription Required |
December 19, 2012
UBS AG became the second bank to settle accusations that it tried to rig benchmark interest rates, agreeing to pay roughly $1.5 billion in a deal with authorities in multiple countries that points to a broader manipulation scandal than previously known.
Tags: Financial Services
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