Former Goldman Sachs banker Roger Ng, facing 10 years in prison after being convicted in New York of helping loot billions of dollars from Malaysia’s 1MDB sovereign wealth fund, will be returned to that country, where he faces related charges.
Global banking regulators on Thursday said supervisors need to up their game to better spot and tackle “outlier” banks with unsustainable business models to apply lessons from banking sector turmoil earlier this year.
India has extended the tenure of the chairman of the State Bank of India (SBI) , the country’s largest lender, until August next year, a government order said on Thursday.
Metro Bank shares closed down 26% on Thursday following reports it was exploring options to raise as much as 600 million pounds ($728 million) in debt and equity to bolster its finances, the latest in a string of setbacks to befall the UK lender.
Ireland’s central bank said on Thursday that investment firms and credit institutions engaged in securities markets activity had failed to adequately monitor how staff communicate while working from home, raising the risk of market abuse.
Metro Bank is exploring options to raise as much 600 million pounds ($728 million) in debt and equity financing, people familiar with the situation said on Wednesday, as it works to bolster its balance sheet.
Royal Bank of Scotland (RBS) on Wednesday lost an appeal over unfair commissions that were charged to customers who were sold payment protection insurance (PPI), potentially increasing lenders’ exposure to litigation over the long-running scandal.
Citigroup managers are reviewing staff rosters to determine by November who will stay in place, be reassigned or laid off during its biggest reorganization in decades, according to a global memo to staff on Wednesday seen by Reuters.
Two years after the presidents of the Dallas and Boston Federal Reserve banks left their jobs amid revelations they had traded on financial markets while helping to set monetary policy, an internal watchdog has yet to finish a probe into a scandal that has clouded the U.S. central bank’s reputation.
