Lax controls at Europe's largest bank, HSBC, allowed Mexican drug cartels to launder billions of dollars through its U.S. operations, says the Senate.
Russell Wasendorf Sr, chief executive of Peregrine Financial Group, was arrested by U.S. authorities today and faces criminal charges, reports Financial Times. The Peregrine founder allegedly created and used false statements to deceive federal regulators. His arrest comes days after he attempted suicide; regulators had discovered Peregrine had a shortfall of $215m in its customer […]
Canadian workers are doing little to contribute to our flailing economy, says a Global Workforce Study recently released by Towers Watson. But by boosting staff productivity, you'll protect your business and boost your bottom line.
A regulatory group ordered accounts frozen at Iowa-based brokerage Peregrine Financial Group late Monday, saying it hasn't been able to account for $220 million in customer funds, following what the company said was a suicide attempt by its founder and chairman.
As of today, Canadian mortgage rules changed. But many homeowners aren’t familiar with the alterations or how they’ll affect their mortgages going forward, says a BMO poll. Lenders can now only issue home equity loans up to a maximum of 80% of a property’s value, down from 85%, and the maximum amortization period has dropped […]
The Treasury Select Committee met with the former chief executive of Barclays, Bob Diamond, today to question him about the penalties levied against the company in connection with the Libor scandal. Barclays was one of the first banks to own up to their involvement, says chairman of the treasury select committee, Andrew Tyrie MP. Read: […]
JPMorgan Chase is under scrutiny again. The Financial Times reports the Federal Energy Regulatory Commission, which is the U.S. electricity regulator, has subpoenaed JPMorgan Chase twice in the past three months.
Do you have exciting vacation plans for the summer? Oracle billionaire CEO is buying his own land in Hawaii, pineapple island in Lanai.
LinkedIn may have had a security breach, but it remains one of the most-used sites by professionals. Despite a $5 million class-action lawsuit launched by Illinois resident Katie Szpyrka—along with a filing by her lawyers claiming the site uses weak encryption formats and improper security measures—I have maintained my profile. And I’d bet most advisors […]
The Wall Street Journal reports Prime Minister Stephen Harper has confirmed Canada will join the U.S. and several Asian nations in the group negotiating a trans-Pacific trade pact. The invitation to join the Trans-Pacific Partnership follows months of wrangling between Canadian and U.S. officials over the terms of entry into the group for Canada. Harper […]