LONDON, June 5 (Reuters) – Britain’s Financial Conduct Authority (FCA) has fined broker ED&F Man Capital Markets Ltd (MCML) 17.2 million pounds ($21.35 million), its largest penalty yet in connection with Europe’s ‘cum-ex’ tax scam. The cum-ex trading scheme, which flourished after the 2008 global financial crisis, involved banks and investors swiftly dealing shares around ...

Credit Suisse will be merged into UBS after deal’s completion New group will oversee $5 trillion in assets UBS CEO has warned of painful decisions ahead UBS CEO: still analysing plan for Credit Suisse domestic business UBS shares indicated slightly higher in premarket ZURICH, June 5 (Reuters) – UBS (UBSG.S) expects to complete its takeover ...

LONDON, May 31 (Reuters) – The European Commission will propose greater transparency in the trading of credit default swaps of eight top banks to mirror rules in U.S. markets, a European Union document seen by Reuters showed on Wednesday. So-called single name credit default swaps (CDS) have come under regulatory scrutiny after the fall and ...

May 30 (Reuters) – Home REIT (HOMEH.L) said on Tuesday an internal probe into alleged wrongdoings showed a lack of transparency on the part of its investment adviser had hampered the company’s assessment of financial strength of its tenant base. The UK housing provider for the homeless has been under scrutiny over several months after ...

May 29 (Reuters) – Singapore state investor Temasek Holdings (TEM.UL) said on Monday it had cut compensation for the team and senior management that recommended its investment in the now-bankrupt FTX cryptocurrency exchange. “Although there was no misconduct by the investment team in reaching their investment recommendation, the investment team and senior management, who are ...

[1/2] The logo of Credit Suisse is pictured on a building in Zurich, Switzerland, April 4, 2023. REUTERS/Pierre Albouy/File Photo ZURICH, May 26 (Reuters) – Credit Suisse (CSGN.S) should soon repay the emergency liquidity that the Swiss government gave the stricken bank to aid its rescue, Finance Minister Karin Keller-Sutter said in an interview published ...

DETROIT/BEIJING, May 25 (Reuters) – U.S. Commerce Secretary Gina Raimondo and Chinese Commerce Minister Wang Wentao traded barbs on trade, investment and export policies in talks on Thursday described by Raimondo’s office as “candid and substantive.” Their meeting in Washington was the first U.S.-China cabinet-level exchange in months, after a string of trade and national ...

WASHINGTON, May 25 (Reuters) – The head of the House Financial Services Committee on Thursday asked the Biden administration for details about its outbound investment proposal, including why investment restrictions would be more effective than export controls or sanctions. Republican U.S. Representative Patrick McHenry, whose panel has a wide remit over financial matters and is ...

Some countries reject more centralised supervision Rules designed to improve investor confidence State/EU friction could weaken impact LONDON, May 24 (Reuters) – European Union plans to increase protections for consumers of financial services are reigniting a long-simmering power battle between national and EU regulators that could hamper how the tougher safeguards will be enforced. The ...