UBS shares slip after report of US sanctions probe into Credit Suisse September 27, 2023 Shares in UBS slipped today after a report suggested that Credit Suisse is at the centre of a US probe into potential sanctions breaches.
Bank of England delays final Basel bank capital rules to July 2025 September 27, 2023 The Bank of England on Wednesday said it would delay by six months to July 2025 its roll out of the final leg of international bank capital rules that began after the global financial crisis over a decade ago.
City firms’ regulatory burden rises as UK and EU diverge on financial rules September 27, 2023 City firms face an increasing regulatory burden as the UK and the EU begin to diverge on financial services regulation.
JP Morgan’s Chase will ban crypto payments starting from mid-October September 26, 2023 Chase UK is banning customers from making crypto payments from mid-October citing concerns over financial crime.
JP Morgan settles Epstein lawsuit with US Virgin Islands for $75m September 26, 2023 JPMorgan Chase reached settlements with the US Virgin Islands (USVI) and former executive Jes Staley to resolve lawsuits over sex trafficking by the disgraced financier Jeffrey Epstein, largely resolving a scandal that has weighed on the largest U.S. bank for months.
EY hands back £15m to Santander over ‘poor’ work on financial crime defences September 26, 2023 EY agreed to terminate a contract with Santander's UK business after its anti-financial crime work for the bank was deemed to be insufficient, according to a report.
Close Brothers profit halves after Novitas write-offs but boss hails progress September 26, 2023 A strong second half of the year was not enough to stop merchant banking group Close Brothers’ profit halving compared to the year before due to provisions related to legal finance specialist Novitas. In the year to July, operating pretax profit dropped 52 per cent to £112m, down from £232.8m the year before. This mainly [...]
DWS to pay $25m to end US probe into greenwashing September 25, 2023 Deutsche Bank-controlled (DBKGn.DE) investment firm DWS will pay $25 million to settle charges over misstatements regarding its environmental, social, and governance (ESG) investing and failures in policies designed to prevent money laundering, U.S. regulators said on Monday.
Interest rates: no rise will be ‘welcome pause’ for banks September 25, 2023 The Bank of England's decision to leave interest rates on hold last week will come as a "welcome pause" to the UK's high street banks, analysts said.
Bank of England set to delay bringing in Basel overhaul of banking rules September 25, 2023 The Bank of England is planning to push back implementation of the final round of Basel reforms by six months after receiving a deluge of industry feedback.