The Public Ledger of Corruption
LONDON – Britain’s Competition and Markets Authority (CMA) said on Wednesday it had provisionally found five major global banks allegedly broke UK competition law by exchanging sensitive information on government bond trading activities in one-to-one online chats. In a statement, the watchdog alleged Citi, Deutsche Bank, HSBC, Morgan Stanley and Royal Bank of Canada each…
SINGAPORE – Financial institutions are required to alert the police and the financial regulator if they suspect that a transaction could be related to a crime, although there is no threshold set for when they must flag these activities. They are also required to step up their measures to manage the higher risks of money…
ZURICH – Switzerland’s Federal Administrative Court has received 230 claims against the country’s financial regulator Finma after it wrote off the value of Credit Suisse’s AT1 bonds, the court said on Tuesday. The claims related to 2,500 individual parties, a court spokesman told Reuters. The court in the north-eastern Swiss city of St Gallen, declined…
more “Credit Suisse AT1 bonds: Swiss court receives 230 claims against Swiss regulator” »
Wells Fargo has agreed to pay $1 billion to settle a pension fund-led lawsuit that accused the bank of defrauding shareholders by misleading them over the progress it was making to rectify a slew of scandals. The Public Employees’ Retirement System of Mississippi, the Louisiana Sheriffs’ Pension & Relief Fund and the state of Rhode…
more “Wells Fargo to Pay $1 Billion to Settle Pension-Led Lawsuit” »
First Citizens BancShares Inc, which acquired Silicon Valley Bank following its collapse, sued HSBC Holdings PLC on Monday, accusing it of poaching more than 40 of the failed bank’s employees in order to launch its own U.S. venture banking business. The lawsuit filed in San Francisco federal court says HSBC violated federal law by hiring…
more “First Citizens sues HSBC for hiring away Silicon Valley Bank staff” »
Adam Kovacevich Contributor Adam Kovacevich is the CEO and founder of a center-left tech industry coalition called Chamber of Progress and has worked at the intersection of tech and politics for 20 years, leading public policy at Google and Lime and serving as a Democratic Hill aide. When the Biden administration proposed new protections earlier…
more “The government can’t seize your data — but it can buy it” »
KYIV, Ukraine (AP) — The head of the Russian private army Wagner claimed Saturday that his forces have taken control of the city of Bakhmut after the longest and most grinding battle of the Russia-Ukraine war, but Ukrainian defense officials denied it. In a video posted on Telegram, Wagner head Yevgeny Prigozhin said the city…
more “Wagner Group claims Bakhmut fallen; Ukraine says fighting continues” »
The international community will not fall in line with the pro-Western rules pushed by the G7 and not allow the US-led group to dominate world affairs, the Chinese Foreign Ministry said in a statement on Saturday. “China will never accept the so-called rules imposed by the few. The international community does not and will not…
Shenderovich then confirmed on Facebook he was “barred from his own performance in London” but still did not explain the reasons behind the incident. He also mockingly thanked “all the idiots” responsible “for such an incredible promotion.” The author eventually moved to nearby Regent’s Park together with his would-be audience, where he held an impromptu…
more “British university blocks Russian writer from own performance” »
Although it has claimed to be fighting Daesh* and other terrorist groups in Syria since 2014, the US military has never received permission from the Syrian government to operate there. In addition, US forces continue to help occupy the eastern third of the country under the guise of supporting allied Kurdish forces. Having previously claimed…
more “Pentagon ‘No Longer Confident’ Syria Drone Strike Killed Al-Qaeda Leader Instead of Farmer” »