Securities Firms

HSBC Holdings Plc will take a $1.1 billion provision in its third-quarter results to cover potential liabilities tied to investor lawsuits linked to Bernard Madoff’s Ponzi scheme, Bloomberg reported.

Federal prosecutors on Thursday unsealed an indictment charging Josh Wander, co-founder of collapsed investment firm 777 Partners, with wire fraud, securities fraud and conspiracy, alleging he fabricated financial records and misled lenders and investors in a scheme worth up to $500 million. The 17-page filing in Manhattan federal court says Wander used bogus documents and […]

European Union lawmakers voted Monday to dramatically scale back two flagship sustainability rules, narrowing their scope to the bloc’s largest companies after months of pushback from industry, Bloomberg reported. 

The world’s top financial watchdog warned that a sharp run-up in global asset prices has left markets vulnerable to the potential for a crash given current economic and geopolitical uncertainties.

Jeffrey Epstein remained embedded in Wall Street’s elite financial networks in the years before his 2019 death, maintaining accounts at more than 20 banks and executing large transactions with prominent investment firms, according to new reporting by The Wall Street Journal. 

A woman accused of running a multibillion-pound investment fraud in China has pleaded guilty in London to laundering bitcoin linked to the scheme.

Hong Kong has banned Richard Charles Heyes, Citigroup’s former head of pan-Asia equities, from re-entering the financial industry for five years after finding him liable for regulatory breaches.

JPMorgan Chase will pay $330 million to the government of Malaysia to settle claims that it facilitated the processing of $800 million in fraudulent transactions linked to the looting of Malaysia’s sovereign wealth fund, 1MDB.