According to securities filings, Mr Becker, SVB’s Chief Executive, and Mr Beck, the Chief Financial Officer, sold shares the week before the bank’s collapse. Becker sold $2.3 million worth of shares and Beck sold more than $575,000 worth of shares, which amounts to one third of his holdings in the company. SEC Chair Gary Gensler…
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FINMA said: The way in which the observation activities were planned and carried out revealed serious shortcomings in the bank’s corporate governance. Observations were not specifically prohibited in Credit Suisse’s policies, but neither were they regulated. Corresponding risk management processes and integration into the internal control system were lacking. In most cases, decisions to carry…
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Just when the dust was beginning to settle after the “round-the-globe” tongue-lashing of Facebook’s Libra project, regulators from the EU have decided in their infinite wisdom to turn up the volume a notch once more. The latest “twist” in this ongoing melodrama is that officials in the European Economic Union are concerned about potential anti-trust…
Read moreAt a time when the entire interbank FX industry is the subject of international investigations, JP Morgan Chase & Co takes action by forming a compliance team headed by senior executives which will be dedicated to FX and rates.
Read moreBritish financial regulatory authority, the FCA, has produced a thematic review which criticizes firms for not providing best execution, with internalization of order flow an area of ambiguity
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