HSBC has been fined HK$24 million ($3.07 million) for offering incentives to “unregistered intermediaries” to get clients to join its Mandatory Provident Fund (MPF) scheme in 2020 and 2021, Hong Kong’s pension regulator said.
Investment bank JPMorgan cut on Monday its forecast of the number of emerging market companies expected to default on their debt, following the biggest improvement in distressed-level market pricing since 2016.
Online trading platform Plus500 posted a fall in its second-quarter core profit on Monday, saying it had been hurt by lower levels of activity across markets in recent weeks due to the Euro 2024 soccer tournament.
India’s Bandhan Bank said on Saturday it has appointed Ratan Kumar Kesh as its interim managing director and chief executive officer with effect from July 10.
TD Bank’s chief compliance officer has left the bank, according to a memo sent internally, at a time the Canadian lender faces U.S. regulators and the Justice Department in a probe related to its anti-money laundering program.
Payments processor NCR Voyix is exploring the sale of its digital banking business which it hopes will fetch as much as $3 billion, people familiar with the matter said.
Credit Suisse’s collapse was caused by the bank’s management, not by Swiss financial authorities, Swiss National Bank Chairman Thomas Jordan was quoted as saying on Friday.
Visa and Mastercard will extend caps on tourist card fees agreed five years ago with EU antitrust regulators by another five years to 2029, the European Commission said on Friday.
The Hong Kong unit of DBS Group Holdings , Singapore’s biggest lender, was fined HK$10 million ($1.28 million) by Hong Kong’s banking regulator for violating anti-money laundering (AML) and counter-terrorist financing regulations.
Nordea , the Nordic region’s biggest bank, has been charged with violating Denmark’s anti-money laundering act several times between 2012 and 2015, Danish police said on Friday.
