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EU and Switzerland agree to exchange details on foreign bank account holders The European Union (EU) and Switzerland have signed an agreement on the exchange of bank account data held by their respective citizens. Wealth & Assets Management > Asset Management > News
US regulator slaps $55m fine on Deutsche Bank for overvaluing financial reports The US Securities and Exchange Commission (SEC) has charged Deutsche Bank with a penalty of $55m for filing misstated financial reports during 2008 crisis.
News EU and Switzerland agree to exchange details on foreign bank account holders By BBR Staff Writer
The European Union (EU) and Switzerland have signed an agreement on the exchange of bank account data held by their respective citizens.
News Opus Bank expands Los Angeles region commercial banking team Opus Bank has announced the expansion of its Los Angeles region commercial banking team with the hires of Douglas Rosenthal and Mark Deneen each joining as managing director, senior client manager.
News
Kleinwort Benson Bank secures investor and partner in Samena Capital Kleinwort Benson has announced the sale of a significant equity stake in its London-based private banking and corporate advisory subsidiary Kleinwort Benson Bank to Samena Capital.
News ACE Foundation sues Commonwealth Bank of Australia in US courts The ACE Foundation has filed a lawsuit in California Superior Court against Commonwealth Bank of Australia (CBA) seeking the return of $2.53m in ACE Foundation funds being held in Australia.
News Monese announces funding round from Seedcamp UK-based Monese has raised $1.8m from early Spotify investor Shakil Khan, Europe’s acceleration fund Seedcamp and a select group of other angel investors.
News

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Banking Services

Opus Bank expands Los Angeles region commercial banking team
Opus Bank has announced the expansion of its Los Angeles region commercial banking team with the hires of Douglas Rosenthal and Mark Deneen each joining as managing director, senior client manager.
News
Kleinwort Benson Bank secures investor and partner in Samena Capital
Kleinwort Benson has announced the sale of a significant equity stake in its London-based private banking and corporate advisory subsidiary Kleinwort Benson Bank to Samena Capital.
News

Wealth & Assets Management

EU and Switzerland agree to exchange details on foreign bank account holders
By BBR Staff Writer
The European Union (EU) and Switzerland have signed an agreement on the exchange of bank account data held by their respective citizens.
News
UBS to dilute stake in China Cinda Asset Management with $303m share sale
By BBR Staff Writer
Swiss financial services company UBS has announced the sale of about $303m in shares of China Cinda Asset Management in a bid to trim its stake in the company.
News

Intermediaries

Five global banks might face penalties of $5bn over forex rigging
By BBR Staff Writer
A settlement between US and British authorities over rigging of currency markets could lead to five of the world’s biggest banks being slapped with penalties totaling $5bn.
News
Britain's central bank to evaluate banks' readiness on dealing with illiquid markets
By BBR Staff Writer
British banks will be subjected to rigorous stress tests by the country's central bank to evaluate their readiness on mass sale of bonds by investors in delicate market situations.
News

Technology

Osborne looks to streamline banking assets through new company
By BBR Staff Writer
UK Chancellor of the Exchequer George Osborne has announced the establishment of a government-operated company to streamline the sale of £23bn worth of bank shares and other publicly owned assets.
News
India's central bank considers setting up IT subsidiary
By BBR Staff Writer
The Reserve Bank of India (RBI) is considering setting up an IT subsidiary that will be responsible for strengthening cyber security in the Indian banking sector.
News

Policies & Regulatory Compliance

EBA outlines upcoming initiatives for regulation of retail payments
The European Banking Authority (EBA) is getting ready to develop requirements that will harmonize regulatory and supervisory practices to ensure secure, easy and efficient payment services across the EU.
News
EBA calls for non-reusable passwords to make online shopping safer in EU
By BBR Staff Writer
The European Banking Authority (EBA) has instructed banks to provide customers with options to create one-time passwords starting from August.
News

Risk Management

US regulator slaps $55m fine on Deutsche Bank for overvaluing financial reports
The US Securities and Exchange Commission (SEC) has charged Deutsche Bank with a penalty of $55m for filing misstated financial reports during 2008 crisis.
News
Survey finds more attention needed on risk culture and incentive compensation
With regulators around the world hammering away at banks' risk management, culture, and incentive compensation efforts, a new survey by Deloitte Touche Tohmatsu Limited (Deloitte Global) finds that financial institutions have a great deal more work to do on this front to meet heightened regulatory expectations.
News