Former IFS Qatar chief fined but contests
A former chief executive of International Financial Services in Qatar fined and banned by authorities in the country, has hit back at the regulators prejudiced and inaccurate portrayal of his misconduct.
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global banks face more than 60 huge fines
Global banks face a total of 63 potentially heavy fines over the next few years, according to analysts at German private bank Berenberg.
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Deutsche fined 4 7m over serial reporting
Deutsche Bank has been fined £4.7m for incorrectly reporting over 29 million equity transactions.
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Standard Chartered may face legal challenges
Standard Chartered may face legal action in the United Arab Emirates after the New York Department of Financial Services reached an agreement with the bank on Tuesday for it to exit “high-risk client relationships” within certain business lines in its UAE branches.
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Berkshire Hathaway fined
Berkshire Hathaway has agreed to pay $896,000 in civic penalties following accusations by the Federal Trade Commission that it violated pre-merger reporting laws.
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PwC faces 25m fine and ban over
PwC has been fined $25m by the New York Department of Financial Services (NYDFS) for abetting the falsification of data within a regulatory report at the Bank of Tokyo Mitsubishi (BTMU).
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Fines weigh heavy on Credit Suisse earnings
Despite improved cost control and an increase in assets under management, the groups wealth management division saw earnings fall.
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Credit Suisse and Yorkshire Building Society fined
Credit Suisse International (CSI) and Yorkshire Building Society have been fined £3.8m by the Financial Conduct Authority for misleading investors on a widely sold structured product.
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Pacific Sun Advisors director convicted
Pacific Sun Advisors and its director, Andrew Mantel, have been convicted of issuing advertisements to promote a fund without the authorisation of the Hong Kong Securities and Futures Commission.
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BNP Paribas facing 10bn fine
BNP Paribas is facing a potential $10bn fine from the US Justice Department to resolve a criminal probe into allegations it evaded US sanctions against Iran, according to a report in the Wall Street Journal.
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Financial adviser gets four years behind bars
A financial adviser who stole £130,000 in savings from vulnerable pensioners and widows has been jailed for three years.
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SFC fines Deutsche Bank
Hong Kongs Securities and Futures Commission (SFC) has reprimanded and fined Deutsche Bank HK$1.6m for regulatory breaches and internal control failings.