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FSA Slaps One Of Its Biggest Fines On UK Bank, Slams Anti-Money Laundering Failures

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Submitted by Financial Adviser on Mon, 03/26/2012 - 20:45

Coutts, the UK private bank, has been fined £8.75 million (around $13.8 million) by the Financial Services Authority, the sixth-largest fine ever handed out by the regulator, for failing to take reasonable care to establish and maintain effective anti-money laundering systems and controls relating to high-risk customers, including “politically exposed persons”.

UBS Profit Drops 76% on Investment Bank Loss

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Submitted by Financial Adviser on Wed, 02/08/2012 - 00:48
From Bloomberg:
 
UBS AG, Switzerland’s biggest bank, said fourth-quarter profit dropped 76 percent after its investment bank reported a second consecutive quarterly loss.
 

Davos and Dangerous Species of Bankers

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Submitted by Financial Adviser on Wed, 01/25/2012 - 21:08

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