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European Banking Editor — Wall Street Journal

European banking editor for The Wall Street Journal. Mustn't grumble. david.enrich@wsj.com

Western Banks Curtail Flow of Cash to Russian Entities

wsj.com — LONDON-Global banks are curtailing the flow of cash to Russian entities, a response to the ruble's sharpest selloff since the 1998 financial crisis. Such banks as Goldman Sachs Group Inc. this week started rejecting requests from institutional clients to engage in certain ruble-denominated repurchase agreements and other transactions designed to raise cash, according to people familiar with the matter.

5 Countries Where Espírito Santo Is Involved In Money-Laundering Probes

blogs.wsj.com — Police last week raided several Lisbon offices and homes as part of an investigation into money laundering and other things, according to Portugal's prosecutor general. Two former Banco Espirito Santo employees, who haven't been identified, are suspects, prosecutors said.

Justice Department investigating possible HSBC leak to hedge fund

efinancialnews.com — The US Justice Department is investigating allegations that an employee of HSBC Holdings leaked confidential client information to a major hedge fund, according to people familiar with the matter, a new twist in a cross-border government probe into misconduct in the foreign-exchange market.

Justice Department investigating possible HSBC leak to hedge fund

marketwatch.com — LONDON - The U.S. Justice Department is investigating allegations that an employee of HSBC Holdings PLC leaked confidential client information to a major hedge fund, according to people familiar with the matter, a new twist in a cross-border government probe into misconduct in the foreign-exchange market. U.S.

Switzerland’s Eurofin in Process of Largely Shutting Down

online.wsj.com — A Swiss financial company embroiled in the Espírito Santo saga is in the process of largely shutting down, according to people familiar with the matter. The Lausanne-based company, Eurofin Holding SA, is selling or spinning off businesses and winding down asset portfolios, these people said.

Five banks agree to pay $3.3 billion to settle forex probe

marketwatch.com — LONDON-Five banks agreed Wednesday to pay a total of about $3.3 billion to U.S., British and Swiss regulators to resolve allegations that they tried to manipulate the vast foreign-exchange market. The settlements resolve long-running investigations by the U.K.'s Financial Conduct Authority, the U.S. Commodity Futures Trading Commission and Switzerland's Finma.

Banks reach settlement in FX-rigging probe

efinancialnews.com — Five banks have agreed to pay a total of about $3.3 billion to US, British and Swiss regulators to resolve allegations that they tried to manipulate the vast foreign-exchange market. Breaking industry news & commentary 10 year searchable archive FN Powerlists & Special Reports FN on mobile and iPad

Swiss regulator sends warning letters to individuals in currencies probe

efinancialnews.com — Switzerland's financial markets regulator warned several past and present UBS employees Tuesday that they face potential enforcement actions for their alleged roles in misconduct in the foreign-exchange markets, according to people familiar with the matter.

Swiss Regulator Sends Warning Letters to Individuals in Currencies Probe

online.wsj.com — LONDON-Switzerland's financial markets regulator warned several past and present UBS AG employees Tuesday that they face potential enforcement actions for their alleged roles in misconduct in the foreign-exchange markets, according to people familiar with the matter. The warning letters from the regulator, known as Finma, were sent to approximately 10 past and present UBS employees, these people said.

Regulators edge toward foreign-exchange settlement with banks

marketwatch.com — LONDON - Regulators in the U.S. and U.K. are nearing a deal with as many as seven large banks to resolve allegations of misconduct in the currencies market, with a settlement likely in the next two weeks, according to people familiar with the negotiations.
More Articles →
Dec 17, 2014

RT @redsteeze: Awesome that we watch basically whatever North Korea allows us to watch from here on out.

Dec 17, 2014

To stabilize its financial system, Russia is basically letting banks avoid recognizing losses on bad loans. wsj.com/articles/ruble…

Dec 17, 2014

One of the first stories I wrote as a professional journalist was about the Cuban spies now being released. web.archive.org/web/2008072516…

Dec 17, 2014

Nice explainer video on unpleasant choices facing Russia, with @charlesforelle's voice set to a soft jazzy beat. on.wsj.com/1uYUJpm

Dec 17, 2014

Regulators vowed to fix scandal-plagued financial benchmarks. Easier said than done. on.wsj.com/1yWzhTj by @chiaraalbanese @Ese_Journo

Dec 16, 2014

Exclusive: Banks including Goldman curtail flow of cash to Russian clients. wsj.com/articles/weste… with @chiaraalbanese

Dec 16, 2014

UK stress tests give all-clear to big banks, but didn't account for things like oil or ruble collapse. on.wsj.com/1wDAuR2

Dec 15, 2014

Brokerage firm R.P. Martin, crippled by #libor scandal, gets sold to rival. on.wsj.com/1xkXW8A

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