The U.S. government is charging that Deutsche Bank and its implicated entities took part in an elaborate shell game, dating back to the fall of 1999, and is asking the German bank to pay $190 million in taxes, penalties, and interest “owed to the United States taxpayers.” Deutsche Bank, however, intends to challenge the lawsuit… Read More >>
Deutsche Bank Fills Top Compliance Posts
Nadine Faruque will join Deutsche Bank as global head of compliance and member of the group executive committee on December 1, according to Deutsche Bank officials. Faruque is the general counsel and group compliance officer at UniCredit SpA and holds the group title of senior executive vice president. She also serves as member of the… Read More >>
CFTC Delays Swap Package Execution as SIX Financial Launches FATCA Service
Bowing to industry concerns, the CFTC has delayed a requirement that swap packages be transacted via swap execution facilities (SEFs), and has clarified that the mandatory SEF-based trading of interest rate swaps and index credit default swaps will begin on Feb. 15. Swap packages were granted a reprieve from the SEF mandate via a no-action… Read More >>
TARP Overseer May Become CFTC Chairman as Deutsche Bank Picks a CIO
TARP Overseer Nominated to be CFTC Chairman President Barack Obama yesterday nominated Timothy Massad, overseer of the Troubled Asset Relief Program (TARP), to be the next chairman of the CFTC as the regulator appears to be moving into a new phase given the recent turnover of commissioners.“For the past few years, Tim has been charged… Read More >>
Broadridge and Scivantage Tackle TARP III as SS&C Updates GoWire
Broadridge and Scivantage to Take on TARP III Broadridge Financial Solutions clients will gain access to the Maxit tax lot accounting system for cost-basis reporting from Scivantage, according to a strategic partnership targeting financial services firms that need help with so-called TARP III compliance, say officials from both companies. In April, the Internal Revenue Service… Read More >>
Another NYSE Technologies Exec Joins Options as Mariner Investment Group Hires from BlackRock
Another NYSE Technologies Exec Moves to Options A former NYSE Euronext executive Tim Yockel will join former NYSE Euronext and Wombat colleagues Danny Moore and Ken Barnes at the cloud services provider to the financial sector Options as the senior vice president of global sales, officials say. Yockel will lead Options’ sales and account management.In… Read More >>
Welcome to Clawback Season
In theory, we are in bonus season. But it’s looking more like clawback season as banks give bonuses more in line with performance. A case in point is UBS, which for the first time in its history is taking back part of the bonuses slated for its investment bankers, according to a report in the… Read More >>
