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Financial Services
Editor's Picks
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Corsa Coal sales executive found guilty in US bribery trial
A former coal sales executive was found guilty in the US of his role in a scheme to bribe officials of an Egyptian state-owned company for $140 million in contracts.
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US order on chatbot privilege underscores lack of privacy for AI conversations
Criminal defendants can't assume their litigation-related conversations with chatbots will remain confidential, a Tuesday order out of the Southern District of New ... (more story)
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Former coal executive approved intermediary’s invoices, US jury told
Former coal sales executive Charles Hunter Hobson signed off on every invoice submitted by the company’s agent in Egypt, even those that seemed unusual, Hobson's ex... (more story)
Insight View More
Reality TV stars who acted as online “finfluencers” to illegally promote foreign-exchange trading via their personal Instagram accounts have pleaded guilty to charges brought by the UK’s financial regulator. T... (more story)
Reforms to the UK’s Financial Ombudsman Service are expected to move ahead soon, with a joint update alongside the Financial Conduct Authority and a new consultation on complaint handling likely to be publishe... (more story)
Swedbank faces an investigation by Sweden’s financial regulator into suspected breaches of the country’s money laundering regulations. The probe follows the lender's involvement in a huge money laundering scan... (more story)
Blue Owl Capital, an investment manager of private capital funds, said it is selling $1.4 billion in assets from three credit funds to return capital to investors and pay down debt. It also is permanently halt... (more story)
The UK government has set out plans to create a new framework for recognizing overseas prudential regimes, shifting formal designation powers from retained EU law mechanisms to Britain’s finance ministry.
French energy group TotalEnergies is on trial this week, as a Paris court is tasked with determining whether climate change falls within the scope of France's duty of vigilance law. In an opinion seen by MLex,... (more story)
EuroCTP, the provider selected for the EU equity consolidated tape, is considering bidding for the UK equity tape’s separate tender process. The group will determine its participation once the Financial Conduc... (more story)
Bank lending to non-depository financial institutions has been the fastest-growing loan segment since the 2008-2009 Global Financial Crisis, rising nearly three times as quickly as the next-fastest-growing seg... (more story)
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Criminal defendants can't assume their litigation-related conversations with chatbots will remain confidential, a Tuesday order out of the Southern District of New York shows. It’s the second reminder this yea... (more story)
The UK's financial regulator is considering a new £10 million wealth threshold to allow high-net-worth individuals to forgo retail investor protections — a move that sparked industry and consumer debate. The f... (more story)
UK financial services’ adoption of AI is already benefitting from stress-testing techniques developed for assessing military uses of AI that can help the financial regulator understand what’s going on under th... (more story)
The issue of reviewing the EU bank capital framework will be raised by some member states during an informal meeting of EU leaders on competitiveness on Feb. 12 at a castle in eastern Belgium. These informal d... (more story)
Resilience, backed up by supervision, is the key to the European banking sector’s competitiveness, Patrick Montagner, a member of the European Central Bank supervisory board, has told MLex, hitting back agains... (more story)
Dassault Aviation will argue to EU judges on Tuesday that business aircraft were unlawfully excluded from the bloc’s green taxonomy. The case is significant in marking the first time a company has sought to ov... (more story)
The European Commission faces a challenging task weighing up the differing views of supervisors and banks on reforms to streamline the EU bank capital framework. They disagree on the impact of a bank's capital... (more story)
US Federal Trade Commission antitrust enforcers across the Biden and Trump administrations agree that employers’ pervasive use of unlawful restrictions on labor mobility are causing harm to workers, competitio... (more story)