Global regulators get toolkit to combat banking misconduct

By Huw Jones LONDON, Apr 20 : Making senior employees directly accountable for their actions is one of the options in a new “toolkit” to combat the misconduct that has damaged public trust in financial services, a global regulatory body said on Friday. The Financial Stability Board (FSB), which coordinates financial regulation for the Group […]

Under financial squeeze, fire-ravaged Russian mall cut costs

By Polina Ivanova KEMEROVO, Russia, April 19 : The company behind a Russian shopping mall where a fire recently killed 64 people, most of them children, had sought to slash costs amid financial losses according to interviews with former employees, their relatives, and owners of retail space in the mall. Investigators also say the company […]

Islamic banks face uneven impact from correspondent banking decline -industry group

By Bernardo Vizcaino Undated, Apr 16 : An industry body for Islamic banks has warned of uneven impact from a decline in correspondent banking, reinforcing concerns that small lenders in developing economies will be most affected from “de-risking” by international lenders. The Bahrain-based General Council for Islamic Banks and Financial Institutions (CIBAFI) raised the issue […]

Japan punishes seven cryptocurrency exchanges over regulatory lapses

By Taiga Uranaka and Thomas Wilson TOKYO, March 8 : Japan punished seven cryptocurrency exchanges, ordering two of them to suspend business, in an effort to shore up consumer protection after a $530 million theft of digital money from Tokyo-based Coincheck Inc earlier this year. The Financial Services Agency (FSA) criticised the exchanges for lacking […]

US asset manager State Street to press gunmakers on safety efforts

By Ross Kerber BOSTON, Feb 27 : US asset manager State Street Corp said it plans to seek details from gunmakers on how they will support the “safe and responsible use of their products,” adding to pressure on the industry after the Feb. 14 shooting that killed 17 people at a Florida high school. Other […]

S.Korea to resume 50-yr T-bond auction in mid-March – vice fin min

By Lee Shin-hyung SEJONG, South Korea, Feb 23 : South Korea will resume the sale of 50-year treasury bonds this year after a cancelled plan late last year and expects to hold an auction next month, a vice finance minister told Reuters on Friday. South Korea launched the country’s longest-maturity treasury bond in 2016 and […]