Litigation
UBS fined £29.7 million for controls failures resulting in Adoboli losses
The UK FSA fines UBS for failures in systems and controls leading up to Adoboli's $2.3 billion losses
UBS rogue trader verdict 'leaves door open' for litigation
Verdict in trial of Kweku Adoboli may lead to litigation against UBS, legal expert warns
Credit risk structural models in op risk
An exposure-based method using a credit risk structural model may help operational risk managers predict underwriter litigations. By Patricia Rosa
Libor manipulation lawsuits could cost banks ‘tens of billions’
Barclays' $450m settlement gives lawyers smoking gun evidence of attempts to tamper with benchmark rates
HSH claims of fraud in UBS CDO case dismissed
Ruling in North Street deal could set new benchmark for CDO litigation, lawyer argues
UBS chairman steps down
Kaspar Villiger will leave the bank in May
Record fine for fraudulent CEO 'not enough', says expert
FSA fine for ex-JC FLowers chief executive 'does not show credible deterrence'
Citigroup settles CDO charges for $285 million
The SEC has ordered Citigroup to pay $285 million to settle charges relating to a short position taken against its own CDO investors
LBHI administrators push for settlement of derivatives claims
Vexed by valuations
Lehman takes aim at guarantee claims
Lehman Brothers Holding Inc (LBHI) confirmed yesterday in its bankruptcy disclosure statement that there are doubts over the validity of third-party and affiliate guarantee claims that cite a pledge by the holding company to take on its subsidiaries'…
No guarantee from Lehman?
Lehman Brothers Holdings Inc is expected to challenge an apparent pledge to its subsidiaries to guarantee their liabilities and obligations. If successful, the bankrupt estate could render hundreds of billions of dollars worth of claims invalid, and even…
KO-ed in Korea
Derivatives litigation has reached a new level in South Korea, where early court rulings on corporate currency options positions went against financial institutions and threatened the legal enforceability of derivatives contracts in the country. A change…
Information asymmetry
Editor's letter
Subprime litigation surges in second quarter
MANAGEMENT