The Financial Times reports that HSBC is wrestling with its third reputational hit of the year, after details of more than 8,000 clients of the group’s expat-targeted Jersey operation were leaked to the press, amid allegations some clients had been convicted of serious offences.
Reuters also reports that UBS's head of structured credit trading in the United States, David Carlson, has left the bank as part of the firm's restructuring, which involves 10,000 staff cuts and a dramatic pull-back in riskier fixed income products, according to a person familiar with his departure.
Finally, Bloomberg reports that David Weber, a U.S. Securities and Exchange Commission internal watchdog who was put on leave after co-workers accused him of being a security threat, has been fired by the agency, his lawyer said.
Weber, who was chief investigator in the inspector general’s office, raised allegations in March that H. David Kotz, the agency’s former inspector general, may have had personal relationships that tainted reports on the SEC’s failure to catch the Bernard Madoff and R. Allen Stanford Ponzi schemes.
HSBC investigates alleged client data leak (pay per view site)
image: © Howard Lake