US and Britain joining forces in bank misbehavior cases
It seemed to be a thumb in the eye of the U.S. Justice Department. Britain last week criminally charged a former Barclays employee suspected of trying to manipulate global interest rates, even though the authorities in London were aware that the employee had been assisting U.S. prosecutors in a related investigation for more than a year.
SAC Capital agrees to plead guilty to insider trading
SAC Capital Advisors has agreed to plead guilty to insider trading violations and pay a record $1.2 billion penalty, becoming the first large Wall Street firm in a generation to confess to criminal conduct. The move caps a decade-long investigation that turned a once mighty hedge fund into a symbol of financial wrongdoing.
Regulatory issues
NEW YORK — In a 50th-floor conference room overlooking Central Park, JPMorgan’s board members had a pressing question about regulatory problems that have dogged the bank for more than a year: Are we done yet?
At JPMorgan, easy way in for China elite
The program was originally called “Sons and Daughters.” And although it was supposed to protect JPMorgan Chase’s business dealings in China, the program went so off track that it is now the focus of a federal bribery investigation in the United States, interviews and a confidential government document show.
Technology hampers opening of exchange
Trading on the nation’s largest options exchange was delayed for several hours on Thursday because of computer problems, the latest incident to highlight the vulnerability of markets to technological shocks.
JPMorgan chief expected to play down trade risks
When JPMorgan’s chief executive, Jamie Dimon, appears on Wednesday on Capitol Hill, he plans to play down the risky trading activities that could prompt as much as $5 billion in losses.
Big investor to oppose re-election of a Goldman Sachs director
In the latest rebuke of eye-popping pay packages on Wall Street, a major institutional investor is taking the rare step to oppose the re-election of a Goldman Sachs board member who approves compensation for many of the bank’s top executives.