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UBS AG

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  • WASHINGTON, Nov 19- The U.S. Department of Justice collected a record $24.7 billion in penalties from fraud and other cases in fiscal year 2014, the agency said on Wednesday, as fines against banks for financial misconduct soared. Collections in 2014 were boosted by multi-billion dollar payouts from JPMorgan Chase& Co and Citigroup Inc to resolve claims they...

  • Nov 18- A Swiss banker charged in the United States last year with helping wealthy Americans avoid taxes said in a court filing on Tuesday that he wanted to fight the charges and asked a federal judge to consider his application for bail before he traveled to the United States. Stefan Buck, who remains in Switzerland and was head of private banking at Zurich- based...

  • Nov 18- Wells Fargo& Co has agreed to pay $7.4 million to settle a class action claim that it unlawfully made brokers who left the firm forfeit bonuses that were deferred as part of their retirement plans, court documents show. The brokers, who said they had earned the bonuses by meeting performance goals set by Wells, alleged the forfeiture requirement violated...

  • LONDON, Nov 17- An international settlement over allegations of manipulation in the foreign exchange market shows reform of Britain's banking system is still badly needed and must not be diluted, a group of British lawmakers said on Monday. Regulators last week imposed fines totalling $4.3 billion on HSBC Holdings Plc, Royal Bank of Scotland Group Plc,...

  • UBS looking to take back bonuses from forex traders Friday, 14 Nov 2014 | 6:26 PM ET

    Nov 14- UBS AG, among the six banks fined this week for their role in the global foreign exchange scandal, is looking at clawing back bonuses from its traders. HSBC Holdings Plc, Royal Bank of Scotland Group Plc, JPMorgan Chase& Co and Citigroup Inc are the other banks looking to take back bonuses, according to the FT report. JPMorgan declined to comment on the FT report,...

  • Morgan Lewis announced on Friday that its partners voted to accept 227 partners from Bingham, which has about 300 overall. The announcement came days after Bingham partners voted to approve the deal. A Morgan Lewis spokeswoman declined to comment on the terms of the deal, and a Bingham spokeswoman did not immediately return a call for comment.

  • Betting halted against Chinese firm in Hong Kong Friday, 14 Nov 2014 | 2:23 PM ET

    WASHINGTON— Hong Kong's stock market on Friday prohibited investors from making speculative bets about the stock of a Chinese chemical company backed by U.S. banking giant Morgan Stanley for at least 90 days. Similar blanket restrictions on short-selling a particular company do not exist in U.S. markets— and tend to ease pressure on the stocks of companies...

  • NEW YORK, Nov 13- A former vice president at Swiss private bank Rahn& Bodmer was indicted on Thursday in the United States on charges of conspiring to help Americans to evade taxes by using secret accounts. Martin Dunki, who retired from the bank in 2012, was charged with one count of conspiracy in an indictment filed in New York federal court. The bank was not named in...

  • Morgan Stanley pushed murky China stock to market Thursday, 13 Nov 2014 | 12:02 AM ET

    In 2012, after spending millions of dollars vetting the firm, a Morgan Stanley investment arm paid $300 million for a stake in Tianhe and a seat on its board. When Tianhe went public in June, Morgan Stanley was one of three lead banks that helped it raise $654 million from investors, making the deal one of the largest Hong Kong IPOs this year. Then Hong Kong regulators...

  • Bank scandal sparks CFTC outrage, aggression Wednesday, 12 Nov 2014 | 5:35 PM ET
    Timothy Massad

    In the wake of a massive settlement, CFTC chief Timothy Massad tells CNBC areas of bank industry need increased oversight. Get the details.

  • NEW YORK, Nov 12- The Dow and S&P 500 dipped in late Wednesday afternoon trading, pausing after a series of record highs in the Dow and S&P 500, as financial shares lost ground after global regulators fined five major banks. The banks, including UBS AG, HSBC Holdings Plc and Citigroup Inc, were fined $3.4 billion for failing to stop their traders from trying to...

  • Next for banks: Layoffs, chat smackdown, more regs Wednesday, 12 Nov 2014 | 2:45 PM ET

    For banks at the center of the recent foreign exchange investigation, paying the $3.4 billion in fines might be the easy part.

  • US STOCKS-Wall St near flat; banks, energy shares slip Wednesday, 12 Nov 2014 | 2:24 PM ET

    The banks, including UBS AG, HSBC Holdings Plc and Citigroup Inc, were fined $3.4 billion for failing to stop their traders from trying to manipulate the foreign exchange market. Citigroup, which will pay $1.02 billion to settle the probe, dipped 0.8 percent, while JPMorgan Chase, which is also facing a penalty, fell 1.5 percent and was among the biggest drags on the...

  • Treasurys mostly flat after 10-year note auction Wednesday, 12 Nov 2014 | 1:14 PM ET

    U.S. Treasurys gained on Wednesday morning, with longer-dated notes rising faster than shorter ones.

  • Forex manipulation: How it worked Wednesday, 12 Nov 2014 | 12:59 PM ET

    The inquiry into alleged manipulation of the currency market now takes in the world’s biggest banks, traders – and now the U.K’s central bank.

  • US STOCKS-Wall St little changed near record; banks slip Wednesday, 12 Nov 2014 | 12:30 PM ET

    *BB&T to buy Susquehanna Bancshares for $2.5 bln. Financial companies lost ground after global regulators fined five major banks- including UBS AG, HSBC Holdings Plc and Citigroup Inc- $3.4 billion for failing to stop their traders from trying to manipulate the foreign exchange market. Citigroup, which will pay $1.02 billion to settle the probe, dipped 0.8...

  • Europe shares sink; banks suffer; DAX down 1.8% Wednesday, 12 Nov 2014 | 11:58 AM ET

    European shares closed lower on Wednesday, with investors shunning banking stocks after regulators announced penalties.

  • US STOCKS-Wall St slips from latest record; banks fall Wednesday, 12 Nov 2014 | 11:27 AM ET

    *BB&T to buy Susquehanna Bancshares for $2.5 bln. Financial companies lost ground after global regulators fined five major banks- including UBS AG, HSBC Holdings Plc and Citigroup Inc- $3.4 billion for failing to stop their traders from trying to manipulate the foreign exchange market. Citigroup, which will pay $1.02 billion to settle the probe, dipped 1.4...

  • Global regulators fined UBS AG, HSBC Holdings Plc, Royal Bank of Scotland, JPMorgan and Citigroup Inc $3.4 billion for failing to stop their traders from trying to manipulate the foreign exchange market. "The imposition of fines by the watchdog basically weighed on European bank stocks, and as a result the market is following suit here," said Peter Cardillo, chief...

  • 3 banks fined another $950M over forex misconduct Wednesday, 12 Nov 2014 | 10:33 AM ET
    A currency exchange board in Istanbul, Turkey.

    Several banks were fined for failing to prevent misconduct in forex trades. The Fed will continue investigations on bank conduct.