Reputational Risk

UBS Office tower. — “Opernturm Frankfurt” by Quartl, licensed under CC BY-SA 3.0 Germany. Via Wikimedia Commons

UBS to Pay Nearly $1 Billion for Alleged Role in French Tax Evasion

UBS Group AG will pay €835 million ($985.6 million) to resolve a yearslong case in France over allegations the Swiss bank helped wealthy clients evade taxes.

Citigroup London office tower — London MMB »1W7 CitiGroup Centre by mattbuck, licensed under [CC BY-SA 2.0-Share Alike Generic]. Source: Wikimedia Commons. Edited version used.

HK Regulator Bans Ex-Citi Asia Equities Head for Poor Compliance

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.