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HSBC
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Latest Headlines
Senate investigates HSBC
The Senate Permanent Subcommittee on Investigations has opened a probe into HSBC, focusing on possible money laundering. The probe dovetails with other investigations into global banks and financial transactions on behalf of countries that support illicit activity. HSBC has been at the storm of se
Backlash against Bernard Madoff trustee may be brewing
The legal tide may be turning against Irving Picard, the court-appointed trustee who was tasked with recovering the ill-gained profits from the Bernard Madoff Ponzi Scheme. When he was given the job, few realized what a goldmine was handed to him and his chosen firm, Baker & Hostetler. Picard
Irving Picard faces hurdles with Madoff clawbacks
Irving Picard has been a machine so far in his quest to recover assets from the massive Bernard Madoff Ponzi scheme and generate revenue for his law firm Baker Hostetler, where he became the king rainmaker with a single assignment.
He has sought court permission to be paid $43.8 million in leg
U.K. banks facing a death sentence
For all of the regulatory angst about U.S. banks, most people would agree British banks have faced an even harsher regulatory climate. The financial crisis has emboldened regulators to put forward some draconian measures when it comes to bonuses, too-big-to-fail and just about everything else.
Prosecutors eye Credit Suisse bankers and customers for tax evasion
Federal prosecutors continue to wage war on bankers who may have helped wealthy U.S. customers avoid taxes. Along with bankers at UBS and HSBC, bankers at Credit Suisse have found themselves under scrutiny.
In fact, prosecutors have just charged that four bankers at the venerable Swiss bank he
Citigroup expands aggressively in China
At the height of the financial crisis, when Citigroup (NYSE: C ) was still a ward of the federal government, CEO Vikram Pandit stuck to his mantra that Citigroup was a global bank of uncommon potential. Some thought that his talk of international expansion was ill-timed for a bailed out bank, a
More private suits target big Wall Street banks
While the jury is out on whether we will see truly high-profile enforcement action against top Wall Street firms, more aggrieved investors are pressing their cases with private suits, increasingly often in state court. What remains to be seen is how much litigation we'll witness. There are plenty
Impact of IFRS varies according to companies
Despite a lot of fits and starts , most accounting professionals still think that a mandated move to International Financial Reporting Standards ( IFRS news) from U.S. GAAP will happen at some point
Stolen data used by government authorities
Are there data thief vigilantes at work in Europe? People who steal for what they perceive to be the greater good? A host of institutions have had data stolen from clients, data that has then turned
Why big banks can't win
When it comes to customer satisfaction and reputation, it's hard for big banks to win. This has long been evident in the customer satisfaction research by Forrester. Large banks tend to fare poorly, and this year was no exception. Bank of America ( BAC ), Chase, Capital One, TD/Commerce, Fifth T
