All articles by Verdict Staff
Verdict Staff
StanChart to pay NY regulator $340m settlement
Standard Chartered have agreed to pay $340m to the New York financial regulator which accused the bank of concealing at least $250bn of transactions with Iran. The New York Department of Financial Services (DFS) launched an attack on the bank this month, releasing an order on 6 August 2012 which claimed that Standard Chartered had conspired with the Government of Iran to launder money in exchange for millions of dollars in fees
FSA warns of zero-tolerance for banking mis-governance
Tracey McDermott, the recently appointed permanent head of enforcement at the Financial Services Authority (FSA), has warned financiers operating in the City of London to continue to expect a zero-tolerance approach to any misdemeanors.
Rubik Financial appoints managing director for its Wealth division
Australia-based financial technology and software provider, Rubik Financial Limited, has appointed Wayne Wilson as the managing director for its wealth division.
Smith Barney name to be dropped from Morgan Stanley Smith Barney by late September
According to the Wall Street Journal, Morgan Stanley, which owns 51% of the brokerage firm Morgan Stanley Smith Barney, will formally drop the last part of the brokerage joint venture’s name by late September.
Julius Baer acquires Merrill Lynch IWM business
Julius Baer has won the bid to buy Merrill Lynchs international wealth management business, with client assets worth $84bn, from Bank of America (BofA).
Subscribe to our Newsletter
Get industry leading news, data and analysis delivered to your inbox
Signia Wealth selects Advent
Signia Wealth, a UK-based wealth manager has chosen the platform of Advent Software for asset and wealth management.
Raymond James, Wells Fargo poach teams from Morgan Stanley
Raymond James and Wells Fargo have recruited teams of financial advisors from Morgan Stanley Smith Barney (MSSB).
Majority of CFP adviser clients in US are satisfied, research
A research by Aite Group in the US has revealed that 87% of clients who work with a financial adviser who has the USAs version of the Certified Financial Planner (CFP) certification are satisfied or very satisfied.
Axa Wealth opens offshore sales and distribution division
UK-based wealth management company, Axa Wealth International has opened a focused offshore sales and distribution division, following a drop in offshore sales in the first half of 2012.
India to seek HSBC, Stanchart details from FSA
The Reserve Bank and other Indian agencies are seeking details from UK financial regulator FSA regarding the two UK-based global banking giants HSBC and Standard Chartered.