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Banks in Britain face fines over arbitrary fraud compensation – regulator

LONDON (Reuters) – Banks in Britain could face fines if they make selective and arbitrary decisions about compensating customers who have fallen victim to fraud, the Financial Conduct Authority’s head of enforcement said on Wednesday. FILE PHOTO: The Canary Wharf Read more ›

Russian court extends custody of Baring Vostok’s Calvey until April

MOSCOW (Reuters) – A Russian court on Saturday ordered Michael Calvey, the U.S. founder of one of Russia’s biggest private equity firms accused of fraud, to be kept in custody until April 13. Founder of the Baring Vostok private equity Read more ›

Short seller Andrew Left appeals HK market manipulation ruling

HONG KONG(Reuters) – A Hong Kong court on Wednesday heard an appeal from short seller Andrew Left that sought to overturn a five-year ban from the city’s financial markets and a fine for market manipulation. FILE PHOTO: Andrew Left, the Read more ›

Iran approves anti-money laundering bill to ease foreign trade

LONDON (Reuters) – A powerful Iranian council approved an anti-money laundering bill on Saturday, state media reported, a major step towards reforms that would bring Iran into line with global norms and could facilitate foreign trade in the face of Read more ›

Nigeria’s Buhari launches re-election bid with corruption still in focus

ABUJA, Nov 18 (Reuters) – Nigerian President Muhammadu Buhari launched his manifesto on Sunday, hoping his anti-corruption agenda can win him a second term at a Feb. 16 election. Buhari, a military ruler in the early 1980s, in 2015 became Read more ›

Musk to resign as Tesla chairman, remain as CEO in SEC settlement

WASHINGTON/SAN FRANCISCO (Reuters) – Tesla Inc and Elon Musk have agreed to pay $20 million each to financial regulators and the billionaire will step down as the company’s chairman but remain as chief executive, under a settlement that caps a Read more ›

Tesla, Musk pay $40 million to settle Tweet charges, Musk to resign as chairman

WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission said on Saturday that car-maker Tesla and Chief Executive Elon Musk had agreed to pay $20 million each under a settlement that will also see the billionaire step down as chairman Read more ›

SEC sues Musk for fraud, seek to remove him from Tesla

NEW YORK/SAN FRANCISCO (Reuters) – The U.S. Securities and Exchange Commission on Thursday accused Tesla Inc (TSLA.O) Chief Executive Elon Musk of fraud and sought to remove him from his role in charge of the electric car company, saying he Read more ›

Rumor has it Chinese 17-year-old wants to be a billionaire

China’s crackdown on online rumor-mongers and fraud has snared a fresh target – a 17-year-old junior high school dropout who pretended to be a billionaire, gave himself fake titles and posted Photoshopped pictures of himself with world leaders. Source link

FCA issues warning on ‘alternative’ CFDs

LONDON (Reuters) – Britain’s Financial Conduct Authority said on Wednesday it would keep a closer eye on firms selling high-risk and speculative investments to retail clients following recent actions by its European peer to supervise sales of contracts for difference Read more ›