Traders facing penalties from British regulators over their involvement in rigging Libor may avoid being fined after the U.K. Financial Conduct Authority missed a deadline to take action, three people with knowledge of the matter said.
UBS, among the six banks fined last week for their role in the global foreign exchange scandal, is looking at clawing back bonuses from its traders.
Nomura has put three of its mortgage-bond traders on leave, according to a person with knowledge of the decision.
A few corners of Wall Street are expecting big bonuses, but for most of the industry it is likely to be a disappointing year.
A federal appeals court has determined that Jesse C. Litvak, a former senior trader at the Jefferies, can stay out of prison while he appeals a conviction of defrauding investors in mortgage-backed securities.
A high-frequency trader was indicted for 'spoofing' - placing and immediate canceling orders as a way to manipulate commodities markets - in what the U.S. Justice Department says is the first criminal case of its kind.
Lloyds Banking is eliminating as many as 10 employees in its financial markets unit, according to two people with knowledge of the decision.
Three former Barclays traders charged in the U.K. with manipulating Libor sued the bank in a U.S. court claiming it’s obligated to keep paying their legal fees under a law protecting whistle-blowers.
Traders with a heart!
'For every 10 of them there’s going to be three or four left'.
The former trader, who served five years in jail, now runs a dry-cleaning and laundry business.
'This was a baseless claim, and an unwarranted attack on our institution, our culture and values', said David Van Der Walt, the chief executive of Investec in London.
Two former derivatives traders have sued in London for $11.6m, claiming their previous firm failed to honor an unwritten bonus agreement the bank described as a 'fiction'.