The Financial Conduct Authority banned Weaving Capital (UK) Ltd. Founder Magnus Peterson from working in the financial industry as part of a closure in one of the biggest scandals in the country.
UBS Group AG
UniCredit is examining an option to trim its headcount as part of the cost cutting measures to enhance profitability of the bank. Towards this, the Italy's biggest bank by assets would cut 10,000 jobs or seven percent of the total workforce.
The Swiss bank Credit Suisse Group AG will have to shell out $80 million in fines and disgorgement to the US regulators in an alternative trading-related settlement case. Credit Suisse didn't reveal its operations in dark pool private share trading exchange to the clients.
Secret contracts, covert real-estate deals, scurrying around after nightfall to avoid detection: this is how far big-bank brokers are prepared to go when they plan to go independent.
UBS said on Monday it was launching a share-for-share exchange to set up a new holding company, UBS Group AG, part of a restructuring drive to ensure it can be broken up more easily in a crisis.