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Deutsche Bank Swallows $4 Bln of Charges for Clean Up
Deutsche Bank
plunged to its worst quarterly loss in four years on Thursday
after it took nearly $4 billion in charges to try and draw a
line under a slew of scandals and boost its balance sheet
without asking shareholders for cash.
Fidelity Contrafund Cut Apple Stake 3 Pct in December
Portfolio manager Will Danoff,
whose $85 billion Fidelity Contrafund is the largest active
shareholder in Apple Inc, trimmed his holdings in the
maker of the iPhone by 3.1 percent in December.
Insider Trading Escalates At Hedge Funds, Reflecting Weak Controls
The ongoing proliferation of insider trading cases at hedge funds points to the need for more transparency into investment decisions and trading processes. One way to stop the pattern is for hedge funds to form internal control groups that scrutinize the links between investment themes and material non-public information.
Video: The Future Of Data Management
Larry Tabb of TABB Group recently discussed with WS&T senior editor Melanie Rodier how firms are adapting their data management processes to the post-financial-crisis environment.
Italy's Monti Calls for Investigation of Monte Paschi Scandal
Italian Prime Minister
Mario Monti called on Friday for an immediate investigation of a
widening scandal at Monte dei Paschi di Siena over the historic
bank's losses of nearly $1 billion in a series of complex
derivatives deals.
ICE Eyes IPO of NYSE Euronext's Equity Exchanges in Europe After Deal Closes
InterContinental Exchange is buying NYSE Euronext to become a global powerhouse in derivatives, but European equities are a different story.
Investors Blinded By Banks' Calculation of Risky Assets —Basel
Material differences in the way
banks define their risky assets is blinding investors' ability
to make informed choices about where to put their money, a top
regulator said on Thursday.
Financial Firms To Recruit More Risk and Tech Talent
Across the financial sector, the mood at the water cooler has improved, according to the latest survey from eFinancialCareers.
Peregrine Financial Fraud Loss Exceeds $200 Million: U.S. Prosecutors
Peregrine Financial Group's former chief executive embezzled more than $215 million from customers of his now-defunct futures brokerage, U.S. prosecutors said in court documents filed on Tuesday.
Re-Thinking Operational Risk on Wall Street
With no let-up in the flow of operational risk accidents at major banks, firms are hiring more seasoned experts and throwing more resources at the function. But more work needs to be done.
FX Models Resurrected as Markets Emerge from Cisis Mode
Computer-driven funds are seizing
on signals suggesting the herd-like "risk-on/risk-off"
investment behaviour that has dominated currency trading since
2010 is fading.
Morgan Stanley Pay Ratio in Institutional Securities Drops
Morgan Stanley set aside 44
percent of adjusted revenue in its institutional securities
business for compensation last year, down from 53 percent in
2011, Chief Financial Officer Ruth Porat said in an interview on
Friday.
Q&A: Deutsche Bank Advises What To Do When Your Algo Fails a Risk Check
Deutsche Bank’s director, and head of algorithmic execution for listed derivatives and foreign exchange in the Americas, Greg Wood, recently sat down with WS&T to talk about some controversial risk measures that can safeguard the markets.
Lloyds Lacking Risk Controls? Weisel's Armstrong Ties Questioned, and More News of the Week
Lloyds Bank, following a few systems failures in 2012, is facing accusations from a former executive that risk controls are lacking, while Thomas Weisel is under scrutiny for ties to Lance Armstrong, HSBC can't get away from its money laundering settlement and "genius" trader risk top this weeks chatter in the press and on Twitter.
Goldman, Morgan Stanley to Pay $557 Mln in Foreclosure Case Deal
Goldman Sachs Group Inc
and Morgan Stanley will pay $557 million in cash
and other assistance to troubled borrowers to end a case by case
review of foreclosures required by U.S. regulators.
JPMorgan Ordered to Improve Controls After 'Whale' Loss
U.S. banking
regulators on Monday ordered JPMorgan Chase & Co to
tighten its risk controls after the bank lost billions of
dollars due to bad bets from a trader known as the "London
Whale."
Peregrine Financial's Ex-CEO Faces Jan. 31 Sentencing
Peregrine Financial Group's former chief
executive, who pleaded guilty to embezzling more than $100
million from customers of his futures brokerage, will be
sentenced on Jan. 31, according to court documents filed on
Monday.
JPMorgan Ordered to Improve Controls After 'Whale' Loss
U.S. banking
regulators on Monday ordered JPMorgan Chase & Co to
tighten its risk controls after the bank lost billions of
dollars due to bad bets from a trader known as the "London
Whale."
Funds Overweight Banks For First Time Since 2007: BofA Poll
Global investors turned
overweight bank stocks for the first time in six years in
January and boosted equity holdings to a two-year high, a survey
showed on Tuesday.
How to Manage "Genius Trader Risk"
After a series of trading blow-ups by rogue traders, meet "the genius trader," who can do even worse damage. With their superior intellect, big egos,and technical expertise, they can easily win over CEOs. But, can risk managers reign them in?
Q&A: JP Morgan Reveals Most Effective Risk Management Processes
JP Morgan's managing director of electronic execution, Neal Goldstein, recently sat down with WS&T to discuss how new FPL risk guidelines can address the financial industry's risk management pain points.
ParkRiver and MIK Team Up on Hedge Fund Compliance Solution
Hedge funds will turn to outsourcing providers to comply with new CFTC and NFA data reporting regulations, say ParkRiver and MIK.
ICAP Sells Stake in Traiana to Seven Investment Banks
ICAP has sold a stake in
technology unit Traiana to seven top banks in the latest example
of the world's largest broker partnering with clients on key
projects in a bid to retain their long-term support.
Credit Suisse to Cut Bonus Pool by 20 Percent — Paper
Credit Suisse will cut
its bonus pool for 2012 by 20 percent to around 2.3 billion
Swiss francs ($2.52 billion), the fourth year in a row the Swiss
bank has slashed payouts, a newspaper reported on Sunday.
Outgoing Eurogroup Chief Calls for Direct Bank Aid
The euro zone must use its
rescue fund to inject money into banks with past debts, the
president of the Eurogroup said on Thursday, warning anything
less would undermine the bloc's crisis response.
Ten Most Significant Operational Risks of 2012
Andrew Waxman takes a look at the most significant operational risks, including the Facebook IPO and Knight Capital Fiasco, that occurred on Wall Street in 2012.
How To Turn a Hedge Fund Into an Informer
The Financial Crimes Enforcement Network is working on a rule that could force hedge funds to blow the whistle on themselves.
BofA, Other Banks Move Closer to Ending Mortgage Mess
Bank of America Corp
announced more than $14 billion of legal settlements
over bad mortgages it sold to investors and flaws in its
foreclosure process, taking the bank a step closer to ending the
home loan problems that have dogged it for years.
Global Regulators Give In To Banks Over Risk Rule
Regulators have eased requirements for liquidity rule originally designed to protect the global financial system.
Numerix Updates Trade Capture App 'Portfolio' with Curve Modeling
The firm says the update will enable more accurate valuations for the mitigation of counterparty risk.
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