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US BANK regulators fined Citigroup US$136 million for making “insufficient progress” fixing data management issues identified in 2020 and required the bank to demonstrate it was putting enough resources toward those efforts.

BRITAIN’S markets watchdog on Thursday set out final rules for the biggest shake-up in how companies list on the London Stock Exchange in three decades as it seeks to compete harder with New York and the European Union post-Brexit.

UK REGULATORS overhauled their rules for companies looking to make their public debut in London, part of a concerted effort to draw more initial public offerings to the City.

ARCHEGOS Capital Management founder Sung Kook “Bill” Hwang was convicted of fraud and other charges by a jury in Manhattan federal court on Wednesday at a criminal trial in which prosecutors accused him of market manipulation ahead of the 2021 collapse of his US$36 billion private investment firm.

A FEDERAL judge expressed doubt about the merits of a US$1 billion lawsuit by First Citizens Bank & Trust accusing HSBC Holdings of stealing trade secrets when it recruited dozens of bankers who had just joined First Citizens after it took over failed Silicon Valley Bank (SVB).

TURBOTAX-PARENT Intuit said on Wednesday (Jul 10) it will let go of about 1,800 employees, or 10 per cent of its workforce, as it looks to focus on its AI-powered tax preparation software and other financial products.

HSBC Holdings is revamping parts of its investment bank in a move that will make it look more like rivals such as Citigroup Inc.

AVERAGE wealth among adults in Singapore has steadily increased since the global financial crisis in 2008, but the Republic’s wealth inequality has also risen in the same period and is higher than other markets such as Hong Kong, Indonesia and South Korea.

BARCLAYS plans a major hiring spree in Asia to expand client assets over the next few years, focusing on the ultra-rich and family offices in India and Singapore, according to the head of the bank’s wealth business for the region.

BARCLAYS plans a major hiring spree in Asia to expand client assets over the next few years, focusing on the ultra-rich and family offices in India and Singapore, according to the head of the bank’s wealth business for the region.