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'.
Whistleblower Haim Bodek now wants to cut the Big Board down to size — and he has a fighting chance with regulators in his corner, say Wall Street veterans.
'I really enjoyed my job when I was in the industry, but I have had enough of it.'
The U.K. Serious Fraud Office is readying more criminal charges this year against traders in its Libor-manipulation probe, according to people with knowledge of the matter.
Foreign-exchange traders in London are set for the biggest drop in bonuses among bank employees as regulators toughen scrutiny in the wake of scandals, according to a survey by Emolument.
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'.