Peter Norris, Nick Leeson's boss when the rogue trader brought down Barings, has called for industry-wide reform of risk systems in the wake of the UBS trading scandal.
UBS AG, Switzerland’s biggest bank, failed to learn the lessons of billion-dollar losses at Societe Generale SA and Barings Plc, lawyers said.
Furthering efforts to fight against international tax evasion and bank secrecy, members of the Global Forum on Transparency and Exchange of Information for Tax Purposes have issued 12 new peer review reports.
Germany’s powerful constitutional court will on Wednesday rule on whether the country was right to bail out Greece and other eurozone members last year, in a long-anticipated judgment that could result in greater parliamentary control over future re
Barclays, Royal Bank of Scotland and HSBC routinely breached their own mortgage-lending rules and bullied surveyors into wildly inflating valuations of American properties in the run up to the credit crunch, it has been claimed.
In the latest blow to the beleaguered industry, the Federal Housing Finance Agency is poised to file lawsuits seeking many billions of dollars in compensation, alleging the banks broke securities laws.