Swiss financial market supervisory authority FINMA will require UBS to revise its recovery and emergency plans due to the bank’s June 2023 takeover of Credit Suisse. The regulator has suspended the annual approval of UBS’ recovery and emergency plans and expects the bank to further...
A lawsuit accusing 10 banking giants of overcharging investors on corporate bonds has been resurrected. The reason, as Reuters reported Tuesday (July 2), is because the 2nd U.S. Circuit Court of Appeals in Manhattan has overturned the trial judge’s earlier dismissal of the suit, saying...
BNP Paribas CEO Jean-Laurent Bonnafé reportedly expressed skepticism about the potential for a revival of mergers and acquisitions (M&A) activity in European banking. Speaking Tuesday (May 14) at a shareholder meeting, Bonnafé highlighted the economic challenges of cross-border and domestic deals in the industry, dampening...
Swiss National Bank (SNB) Vice Chairman Martin Schlegel said Friday (Feb. 23) that physical cash will never disappear from use in Switzerland, despite the popularity of payment apps. Speaking at an event, Schlegel emphasized the importance of cash for a large part of the population,...
March 23, 2023
European real-time payments have seen historic growth in recent years. In fact, some European countries like the U.K., Sweden and Finland have even gone a step further to develop internal payment systems to supplement the Single Euro Payments Area (SEPA) Instant Credit Transfer scheme, a pan-European initiative launched in 2017 that enables ultra-fast euro payments […]
February 17, 2022
A recent spate of high-profile money laundering cases involving big banks in Europe has shone a spotlight on just how thieves are making off with the cash — literally. Annegret...
February 09, 2022
Amid the cryptocurrency surges, the wallets coupled and decoupled — in short, the digital revolution in financial services — it seems that the fraudsters would go all-in on high-tech schemes....
January 09, 2025
UBS reportedly could settle a case this week involving Credit Suisse, which UBS acquired in 2023. The bank is set to pay hundreds of millions of dollars in the settlement of the case brought by the U.S. Department of Justice, The Wall Street Journal (WSJ) reported Thursday (Jan. 9), citing unnamed sources. UBS did not […]
October 15, 2024
Swiss financial market supervisory authority FINMA will require UBS to revise its recovery and emergency plans due to the bank’s June 2023 takeover of Credit Suisse. The regulator has suspended...
July 02, 2024
A lawsuit accusing 10 banking giants of overcharging investors on corporate bonds has been resurrected. The reason, as Reuters reported Tuesday (July 2), is because the 2nd U.S. Circuit Court...
May 14, 2024
BNP Paribas CEO Jean-Laurent Bonnafé reportedly expressed skepticism about the potential for a revival of mergers and acquisitions (M&A) activity in European banking. Speaking Tuesday (May 14) at a shareholder...