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The Australian Securities and Investments Commission (ASIC) has made available documents setting out additional licence conditions imposed on the following Commonwealth Bank of Australia Group (CBA) entities (both undated).

Published in Financial Integrity

The United States Senate Committee on Banking, Housing and Urban Affairs has made available the testimony of individuals on the first panel of witnesses for its hearing Examining the GAO Report on Expectations of Government Support for Bank Holding Companies held on 31 July 2014.

Published in Financial Integrity

The United States Securities and Exchange Commission (SEC) has announced charges (both dated 30 July 2014) under the Sarbanes-Oxley Act against the following individuals associated with computer equipment company QSGI:

Published in Financial Integrity

The United States District Court for the Southern District of New York has ordered Bank of America Corp (BofA) to pay a US$1.27 billion penalty for fraud. The ruling reportedly relates to a lending program of Countrywide Financial Corporation (Countrywide), which was acquired by BofA in 2008.

Published in Financial Integrity

Switzerland-based bank and financial services provider UBS has announced that it has resolved its "cross-border tax matter" with German authorities and agreed to pay €300 million to conclude the proceedings.

Published in Financial Integrity

The United States Financial Conduct Authority (FCA) has announced that it has banned two firms from recruiting Appointed Representatives (ARs) and individual advisers in what is the FCA's first exercise of its suspension powers.

Published in Consumer Protection

The White House has made available Closing Corporate Tax Loopholes (26 July 2014), the text of United States President Barack Obama's latest weekly address at the White House.

Published in Financial Integrity

The United States Securities and Exchange Commission (SEC) has ordered (24 July 2014) three Morgan Stanley firms to pay a total of US$275 million comprising disgorgement, prejudgment interest and a civil penalty for "misleading investors in a pair of residential mortgage-backed securities (RMBS) securitizations that the firms underwrote, sponsored, and issued".

Published in Financial Integrity

The United States Department of Justice (DoJ) has announced that it has recovered US$80 million from France-based bank and financial services provider BNP Paribas in a judgment under the False Claims Act.

Published in Government Contracting

Financial services provider Citigroup has announced that it has reached a US$7 billion settlement with several United States authorities in relation to "[residential mortgage-backed securities (RMBS)] and collateralized debt obligations (CDOs) issued, structured or underwritten by [Citigroup] between 2003 and 2008".

Published in Financial Integrity
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