bpp-resilience_figure-1

The plaintiffs accused units of Goldman, JPMorgan, Bank of America Corp (BAC.N), Credit Suisse Group AG (CSGN.S), Morgan Stanley (MS.N) and UBS Group AG (UBSG.S) of conspiring since 2009 to keep the stock lending market “in the stone age” by boycotting the startup platforms AQS, Data Explorers and SL-x. But in her 93-page decision, U.S. District Judge Katherine Polk Failla found sufficient “direct evidence” from the plaintiffs to suggest an illegal conspiracy and let them continue their proposed class-action case.
Iowa Public Employees’ Retirement System v. Merrill Lynch, Pierce, Fenner & Smith Inc et al, U.S. District Court, Southern District of New York, No. 17-06221.

 

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The U.K., Germany, France, Russia and China have agreed to establish a special payments system to circumvent U.S. sanctions on Iran stemming from President Trump’s unilateral withdrawal from the 2015 nuclear deal. The payments channel would be an alternative to SWIFT, the backbone of the global financial system that allows Iran to get paid for oil, pay for its imports and finance its activities abroad.
A Special Purpose/Project Vehicle (SPV) is a legal entity that undertakes a project. All contractual agreements between the various parties are negotiated between themselves and the SPV. An SPV is a commercial company established under the relevant Act of a country through an agreement (also known as memorandum of association) between the shareholders or sponsors. The shareholders agreement sets out the basis on which a company is established, giving such details as its name, ownership structure, management control and corporate matters, authorized share capital and the extent of the liabilities of its members. The creation of a Special Purpose/Project Vehicle (SPV) is a key feature of most PPPs[Public Private Partnerships]. The SPV is a legal entity that undertakes a project. All contractual agreements between the various parties are negotiated between themselves and the SPV. SPVs are also a preferred mode of PPP project implementation in limited or non-recourse situations, where the lenders rely on the project’s cash flow and security over its assets as the only means to repay debts. The next figure shows a simplified PPP structure. However, the actual structure of a PPP depends on the type of partnerships.

Hollande denied any conflict of interest with Reliance, which partially financed a film produced by his girlfriend Julie Gayet in 2016.

“That is why, moreover, this group (Reliance) did not have to give me any thanks for anything. I could not even imagine that there was any connection to a film by Julie Gayet.”
India’s Reliance Entertainment has partnered with Julie Gayet’s Rouge International, and Elisa Soussan’s myFamily, to produce mountain-set action drama, “nOmber One.” The picture is to be directed by Serge Hazanavicius, actor-director, and brother of Michel Hazanavicius, who won the best director Oscar for “The Artist.”

Reliance Entertainment is the film investment and distribution operation of billionaire Anil Ambani. It recently confirmed its participation in Steven Spielberg’s new studio Amblin Partners.
Producers: Jean des Forets, Julie Gayet, Nadia Turincev To the Top (2017)
Tout là-haut (original title)
French President Emmanuel Macron’s popularity has hit its lowest level since the start of his term, a major tracker poll published on Sunday showed.

Just 29 percent of respondents said they were satisfied with his leadership, according data from research group Ifop, published in the Journal du Dimanche newspaper.

[May 12 Hollande on his five years: “Les Leçons du Pouvoir” ]

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Hollande just published “Les Leçons du Pouvoir,” a four-hundred-and-seven-page account of his five years in office. It is the thirteenth-best-selling book on Amazon in France, between a self-help guide and a thriller. Hollande wrote it in longhand, often on planes, using a Paper Mate felt-tipped pen.

Léonard Trierweiler a été arrêté et placé en garde à vue ce dimanche 25 février après avoir été contrôlé positif aux stupéfiants.

 

Valérie Trierweiler, ancienne première dame

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Julie Gayet Cannes May 11

[ November 2 2017  François Hollande with Julie Gayet on the Opal Coast   ]

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This is the first time that the former head of state and his companion agree to let themselves be photographed together.

[June 19 Hollande to Julie’s loft in a trendy district ]

hollande-gayet-les-details-etonnants-d-un-couple-devenu-normal

picture

Finished with the Elysee! François Hollande organizes his new life with Julie Gayet . The former president elected to move to the home to the actress, a loft in a trendy district of eastern Paris. In this couple almost like the others, it is madame who leaves the dog when gentleman leaves to the office. A life, this time, normal, far from the golden cage of the Castle.

June 29 2015 Julie Gayet attends official ceremony ]

François Hollande and Julie Gayet attended the commemoration of the 75th anniversary of General de Gaulle’s appeal of June 18,. The entourage of the head of state insisted that Julie Gayet was present “as the granddaughter of Alain Gayet, the Liberation companion” At the ceremony of Mont Valerien, actress accompanied her parents and her grandfather, Alain Gayet, 92, hero of Liberation. She was in the gallery, not at the side of the head of state

[April 23 Julie Gayet, now the châtelaine]

chatelaine: the mistress of an elegant or fashionable household.   1845, from French châtelaine

chatelaine: the mistress of an elegant or fashionable household. 1845, from French châtelaine “a female castellan; wife of a castellan; mistress of a castle or country house;” fem. of châtelain, from Old French chastelain “owner and lord of a castle, castellan, nobleman,” from chastel (see chateau ).

[February 15 “Same terrorist targets “, says French President Francois Hollande, at the Danish embassy in Paris]

Like it or not, Julie Gayet is the natural extension of François Hollande, even if it appears there is no official link.

Like it or not, Julie Gayet is the natural extension of François Hollande, even if it appears there is no official link.

“It was the same targets that were chosen by the terrorists”, said Hollande, speaking on a visit to the Danish embassy in Paris. “We see there is a link that doesn’t show there is a network but does show the terrorists are determined to hit what we are, what we represent, the values of freedom, of law, of protection that every citizen — whatever his or her religion — should have,” the president added.

[January 5 Socialists win because of “perfect” response of Francois Hollande to the terror attacks.]

“In ‘Merci pour ce moment,’ Valérie is the embodiment of a woman’s struggle to scream the truth,”  said movie  Producer Saïda Jawad.   Trierweiler’s book  details the reporter’s seven year relationship with the French president, including his year-long affair with actress Julie Gayet.

“In ‘Merci pour ce moment,’ Valérie is the embodiment of a woman’s struggle to scream the truth,” said movie Producer Saïda Jawad. Trierweiler’s book details the reporter’s seven year relationship with the French president, including his year-long affair with actress Julie Gayet.

Frederic Barbier, the Socialist candidate at the by-election in Doubs, eastern France, who won 51.4% of the vote, said his victory over Sophie Montel, National Front, had been helped in part by the “perfect” response of France’s leaders to the terror attacks.

[January 25 Sanctions ‘must stop now’, Francois Hollande expects a resolution to Ukraine crisis]

Valérie Trierweiler's bestseller on Hollande relationship to be made into film.   Romarin films is currently seeking French and international co-producers.   Trierweiler's book was widely panned in France as a poorly written, self-pitying and vulgarly prurient invasion of the French president's private life.   Despite the furore, initial sales surpassed Fifty Shades of Grey.

Valérie Trierweiler’s bestseller on Hollande relationship to be made into film. Romarin films is currently seeking French and international co-producers. Trierweiler’s book was widely panned in France as a poorly written, self-pitying and vulgarly prurient invasion of the French president’s private life. Despite the furore, initial sales surpassed Fifty Shades of Grey.

Willem Dafoe is of French, German, English, Irish, and Scottish descent.

Willem Dafoe is of French, German, English, Irish, and Scottish descent.

The French president today called for the lifting of the West’s economic sanctions on Russia, saying: ‘Mr Putin does not want to annex eastern Ukraine. He has told me that.’
Saying the sanctions ‘must stop now’, Francois Hollande said he was expecting progress on a resolution to the Ukraine crisis at international talks in Kazakhstan in 10 days.

[December 6 Hollande one of the first Western leaders to visit the Russian president since his annexation of Crimea]

Julie Gayet at Beirut Film Festival

Julie Gayet at Beirut Film Festival

Updated Dec. 6, 2014 1:15 p.m. ET French President Franaçois Hollande stopped over in Moscow on December 6 for a surprise meeting with Vladimir Putin to discuss the crisis in Ukraine, becoming one of the first Western leaders to visit the Russian president since his annexation of Crimea.

[No0vember 6 Hollande keen to deal with oil-rich Canada]

The photos that surfaced November 6 are the first time Gayet has been caught on camera coming out of the Elysee palace.   The magazine said the photographs were taken on Oct. 30, on the actress' return to Paris after taking part in Tokyo Film Festival.

The photos that surfaced November 6 are the first time Gayet has been caught on camera coming out of the Elysee palace. The magazine said the photographs were taken on Oct. 30, on the actress’ return to Paris after taking part in Tokyo Film Festival.

French President François Hollande on November 3 addressed the Canadian federal parliament as the two countries prepare for a new trade pact.
Officials say Hollande, the first French President to visit Canada in 25 years, is keen to show that France, which already has close ties to French-speaking Quebec, is also interested in stronger ties with English-speaking Canada, particularly the oil-rich west.

[September 3 Valérie Trierweiler’s expense account revealed = riposte: she tried suicide]

In 2013. Valarie served as France's first lady

In 2013. Valarie served as France’s first lady

Valérie Trierweiler cost the French taxpayer €481,900 (£381,000) in 2013 as France’s “first lady”, according to an official audit.

The revelation in a report by the court of auditors prompted Trierweiler’s son Léonard to spring to her defence as it raised fresh comparisons with the lavish spending of her predecessors in the Elysée Palace, the wife and former wife of Nicolas Sarkozy.

The audit of palace spending in 2013 found that Trierweiler’s staff of five cost €396,900. The travel expenses of the former partner of President François Hollande, for official duties and journeys linked to humanitarian work, were put at €85,000.

She also had four bodyguards, whose costs were not quantified in the report by the court of auditors, which was released on Tuesday evening, as well as grace and favour offices in a palatial Paris mansion.

Valérie Trierweiler made suicide bid in the Elysée Palace after Gayet affair revealed.
François Hollande was forced to wrestle sleeping pills from the hand of his furious lover Valérie Trierweiler as she tried to commit suicide following the collapse of their relationship.

French actress Julie Gayet, whose affair with President Francois Hollande made headlines worldwide, on September 2 won a privacy case against a photographer who snapped her in her car.

Julie Gayet attends the Opening Ceremony and 'Birdman' premiere during the 71st Venice Film Festival at Palazzo Del Cinema on August 27, 2014 in Venice, Italy.

Julie Gayet attends the Opening Ceremony and ‘Birdman’ premiere during the 71st Venice Film Festival at Palazzo Del Cinema on August 27, 2014 in Venice, Italy.

[August 14 Francois Hollande celebrates his birthday with family]

Another beach, another dump

Another beach, another dump

 Valerie Trierweiler

Valerie Trierweiler

Francois Hollande’s affair with the actress Julie Gayet appears to be over after she was seen on holiday with Pierre Puybasset, manager at Financial Exchequer, Paris, and he went off on a break alone.
Valerie Trierweiler, 49, had to leave the Elysee Palace when Mr Hollande’s secret affair with Miss Gayet, a 42-year-old actress, was made public.

[June 28 Valerie Trierweiler decorations at Presidential summer residence removed]

a riposte to Hollande travels...no limo now,  take the subway

a riposte to Hollande travels…no limo now, takes the subway, March 1]

VALÉRIE TRIERWEILER:Her traces erased from the Fort of Brégançon. François Hollande did not retain the changes made ​​by the former first lady at the summer residence of the Presidents in the South of France …. “These acquisitions have now disappeared, recovered by the Office of National Furniture with crockery, linen and furniture of the garden, ”
[February 12]

 swimwear photo brings writ

swimwear photo brings writ

Valerie Trierweiler, former partner of French president Francois Hollande in Mauritius

Valerie Trierweiler, former partner of French president Francois Hollande in Mauritius But Hollande ain’t seen nothing yet — wait until Trierweiler, a journalist known for her quick, acid tongue, gets her turn at the mike.

Hotel Paradis in Mauritius

Fouille-merde: Valerie Trierweiler after Hollande: Valerie Trierweiler, former partner of French president Francois Hollande, has issued a writ against French Closer magazine for publishing pictures of her in her swimwear while on holiday in Mauritius


Judge Anne-Marie Sauteraud however said Ms Trierweiler “could not ignore that by bathing in a two-piece swimsuit on the beach of the official presidential retreat, she risked being photographed”.

World | Agence France-Presse | Updated: October 24, 2012

But France is there when it counts
[January 31]

Julie Gayet in the French film by Bertrand Tavernier, “Quai d’Orsay”.

President Hollande has a date with President Obama in Washington on February 11. His good friend Julie Gayet has a date in Paris with the Cesar Award ceremony on Feb. 28.

Julie Gayet is nominated for the French ‘Oscar’. Actress Julie Gayet, 41.,a supporting actress in Bertrand Tavernier’s Quai d’Orsay, a comedy about life at the French foreign ministry, has been nominated for a Cesar, the most prestigious prize in French cinema. Ms Gayet has been keeping a very low profile, although friends have been saying she has no intention of trying to become the next first lady.

Guardian: “Gayet co-stars as a vampish policy adviser on Africa who will reportedly stop at nothing to gain an advantage over her rivals.”

Variety: “Arthur finds himself sabotaged for sport by one colleague (Julie Gayet, as the seductive policy advisor on Africa)”

Le Monde: ” The other members are also tasty, especially … Julie Gayet (Councillor Africa ).”

And as if that were not enough, Julie Gayet will compete with … Marisa Borini , mother of Carla Bruni (!) for her role in A castle in Italy
Carla Bruni-Sarkozy, is an Italian-French singer, songwriter and former model. She married the then President of the French Republic Nicolas Sarkozy in February 2008. Former French president Nicolas Sarkozy believes he can capitalise on the fallout from Hollande’s decision to end his relationship with former first lady Valerie Trierweiler following the revelation of his affair with actress Julie Gayet.

Sarkozy, who divorced his second wife Cecilia and started living with former supermodel Carla Bruni during his time in office, has been reluctant to say too much about the saga in public. In private however, Sarkozy has reportedly been rubbing his hands with glee over a scandal that he believes will do further damage to his rival’s standing, particularly with women voters turned off by the curt 18-word statement Hollande used to announce the end of his relationship with Trierweiler.

[June 29]

During her two-day visit to India on behalf of the French charity Action Contre la Faim (Action Against Hunger) she visited a slum and witnessed a feeding program for malnourished children.She told AFP during the India trip that she would like to extend her humanitarian work – ‘‘especially towards poor children’’.The 48-year-old, who is still employed as an arts writer by the French magazine Paris Match, said she planned to continue charity work rather than returning to her previous role as a political journalist.

In May 2012, during the hard-fought elections for France’s National Assembly, when Trierweiler, a heavy Twitter user, tweeted her support for a candidate who was running against Ségolène Royal, the mother of Hollande’s four children, with whom he lived for many years (and whom he finally left for Trierweiler). Royal lost the race, dashing Hollande’s hopes for having her as an ally in the fractious parliament.

Though Trierweiler tried hard to make amends for her mistake in subsequent posts, the tweet was never forgotten. As the months went on, the doubts about her emerged at odd moments. While Hollande was on a visit inside France one day, a woman in the crowd bluntly told him, “don’t marry Valérie Trierweiler, we don’t like her,” leaving the president speechless; the video of the scene played heavily on French TV

[January 25]

France’s first lady, Valerie Trierweiler, sent a farewell message January 25 via Twitter to staff at the presidential palace, a move that comes after President Francois Hollande reportedly announced the couple is splitting up. “All my gratitude goes to the extraordinary people at the Élysées. I will never forget the devotion or emotion at the time of leaving,” she wrote.

michelle obama valerie trierweiler

Valerie and Michelle

Valerie Trierweiler has already met the Obamas

Valerie Trierweiler has already met the Obamas

Ms Trierweiler is travelling to India on January 26 support of the work of the French charity Action Against Hunger. . Her second marriage was to Denis Trierweiler, a sub-editor at Paris Match magazine, and a writer and academic. This marriage produced three children and divorce proceedings took three years (2007-2010).

[January 24]

Newly elected president Francois Hollande poses with children in front of his home on May 7, 2012 in Paris, one day after the announcement of the first official results of the French presidential second round.  Flora Hollande Daughter Thomas Hollande Son Julien Hollande Son Clémence Hollande Son

Newly elected president Francois Hollande poses with children in front of his home on May 7, 2012 in Paris, one day after the announcement of the first official results of the French presidential second round. Flora Hollande, Daughter;Thomas Hollande,Son;Julien Hollande,Son;Clémence Hollande,Son [Mr Hollande had a Catholic upbringing and had his four children christened but never married.]

Valerie Trierweiler has told friends that she expects to accompany Francois Hollande on his trip to Washington from 9 February.

Mobilier National, which is responsible for furnishing the official palace of the Republic and the various presidential residences denied published items, saying: ” The National Furniture opposes categorically denied the rumor circulating on the internet regarding a supposed destruction of furniture at the Elysee Palace. This rumor is based on totally false elements . ”

[January 21]
Hollande, who has four children from a previous relationship with fellow Socialist politician Segolene Royal, has reportedly been advised to be a “bachelor president” while the public digests the news of the affair.

“If there must be a split, it must be dignified and elegant regarding Valerie Trierweiler,” one of Hollande’s advisers reportedly told French newspaper Le Figaro Monday. “And above all, Julie Gayet mustn’t instantly move into the Elysee.” Then again…

[January 19]

 Collapsed and humiliated, she found herself caught between her huge distress and his impetuosity, her questions about her future and her anger. Today, Valérie Trierweiler is perhaps at the end of a path. She was attracted to the lure of power. She learned she acted, she suffered, she knows hardness and cruelty of public life.

Collapsed and humiliated, she found herself caught between her huge distress and his impetuosity, her questions about her future and her anger. Today, Valérie Trierweiler is perhaps at the end of a path. She was attracted to the lure of power. She learned she acted, she suffered, she knows hardness and cruelty of public life.

Valérie Trierweiler left Saturday the Pitié-Salpêtrière Hospital in Paris, where she stayed for eight days. Story of a difficult week.

More than a week cloistered in a room of the Salpêtrière, surrounded by guards and nurses, with her iPhone for company! Very dejected, voltage at half-mast, she dined on the ham-shells of the hospital, not the little delicacies of the Elysee. She saw almost no one except her son, the youngest, everyday, her mother and brother from time to time.

Tuesday from her bed she watched the press conference of the President of the Republic on the mini-screen of her iPhone, because her room had no TV or iPad. This is not to say that she was disappointed by the necessity he had to evade the problem. She thought for a moment to attend this conference. The doctors have dissuaded. Too weak. No need to vanish amid flashes and microphones.

Thursday, Valérie Trierweiler told her son she wanted at all costs to leave the hospital to resume her life. She was better. But curiously, late Friday morning, her son was no longer welcome at his bedside. Conspicuously absent, she seemed asleep very deeply. His son explodes, concerned with the physician. She was told that her mother needs rest.

The previous evening, Thursday 21 am at 15 hours, Francois Hollande, who still remains her official companion visited her for half an hour. They did not jumped into each other’s arms, that is no longer there. He told her he “needed time”. This is why they have agreed for her to stay at La Lanterne “pending.” Waiting for what? This is the problem.

With 19 months to run in as undefined First Lady under the eyes of French and under the scrutiny of the world press, with many public appearances, with the drivers, assistants, bodyguards, dresses fashion function, it will be difficult descending into everyday life. Become anonymous? Impossible! Valerie never wanted to let go of her original job: Articles for Paris Match. An anchor. A kind of insurance? The apartment on rue Cauchy in the 15th where the couple lived before the election is in the name of Francois Hollande. He will have his home in it? Imagine the anxiety.

It will take time, years, to collect the most violent shock of his life: the deception of the man who was his companion for 8 years. The worst: read in the press that the story with Julie Gayet had begun before the election … Valerie oscillates between depression and rage.

WHY THIS HOSPITAL?

Upon publication of pictures of “Closer” after a tough call – confessions – with François Hollande, she would have taken some sleeping pills, just to find some respite from a sleep that could not, she may be swallowed a tablet too. But it is not the mother of three boys, hardworking, very rooted in reality that will make a suicide attempt. The next day she wakes up in the Elysée, nauseous, unwell, it would be worse. “Services” the Elysee advised her to be hospitalized, to create distance.

Ideally, the Presidency wished not to publicize her hospitalization but Valérie Trierweiler wasfirm that the information leaked. Contrary to what you read, Ségolène Royal has never gone to visit Valerie at the Salpetriere, she let go, telling a confidante that “Francis did not know howto be true.” Sex is a dividend of power? Or just a taste for the secret love? At the Elysee, they already tried to turn the page …

Eight days, Valerie finds herself alone to handle everything. Collapsed and humiliated, she found herself caught between her huge distress and his impetuosity, her questions about her future and her anger. Today, Valérie Trierweiler is perhaps at the end of a path. She wasattracted to the lure of power. She learned she acted, she suffered, she knows hardness and cruelty of public life. A lock needs to turn slowly regain a foothold …

January 12]

'First Lady' has blues

‘First Lady’ has blues

The Elysée Palace said that Ms Trierweiler, 49, had suffered a “severe case of the blues” last Friday after Closer published an article about the alleged affair with Julie Gayet. She was taken to a Paris hospital and is expected to remain until January 12.

[January 10]

‘Around New Year’s Day, French President Francois Hollande, a helmeted head of state, joined Juliet Gayet, the actress, at her apartment, where he has got into the habit of spending the night,’ Closer wrote on its website. Hollande routinely drives through Paris on his scooter to spend the night with his 41-year-old mistress.

[July 18 2011]

 Anne Mansouret is an elected local official for the Socialist party

Anne Mansouret is an elected local official for the Socialist party

According to a report by the French magazine L’Express, Mansouret recently revealed to the special prosecutor investigating Tristane’s case that she had a very real, very messy reason for advising her daughter as she did: her own sexual past with DSK.

Mansouret told the prosecutor that she had a single, violent sexual encounter that took place in the OECD building in Paris, where DSK worked as special advisor to the organization’s Secretary General. L’Express in french a Socialist Party politician, François Hollande, took an interest in the matter. according to Le Nouvel Observateur
Investigators interviewed Tristane Banon’s mother, Anne Mansouret July 13, who said she collected her daughter from the scene of the alleged assault in a state of shock. Anne Mansouret is an elected local official for the Socialist party, and has said that senior members of the party were made aware of the assault.

The following individual has been added to OFAC’s SDN List:

LI, Shangfu (Chinese Simplified: 李尚福); DOB 01 Feb 1958 to 28 Feb 1958; POB Chengdu, Sichuan Province, China; citizen China; Gender Male; CAATSA Section 235 Information: FOREIGN EXCHANGE. Sec 235(a)(7); alt. CAATSA Section 235 Information: BANKING TRANSACTIONS. Sec 235(a)(8); alt. CAATSA Section 235 Information: EXCLUSION OF CORPORATE OFFICERS. Sec 235(a)(11); alt. CAATSA Section 235 Information: BLOCKING PROPERTY AND INTERESTS IN PROPERTY. Sec 235(a)(9); Director of Equipment Development Department (individual) [CAATSA – RUSSIA] (Linked To: EQUIPMENT DEVELOPMENT DEPARTMENT).

 

[   Russia threatens attack ‘by other means’ against U.S. sanctions   ]

9934a6a413764d75a913fe8bf764c732

Central Bank of Russia

A ban on Russian state-owned banks’ operations or on their use of one or another currency follows, it would be possible to clearly call it a declaration of economic war,” said Dmitry Medvedev, Russian prime minister. Legislation introduced last week in draft form by Republican and Democratic senators proposes curbs on the operations of several state-owned Russian banks in the United States and restrictions on their use of the dollar.”And it would be necessary, it would be needed to react to this war economically, politically, or, if needed, by other means. And our American friends need to understand this,” he said’

Six senators — three Republicans and three Democrats — led by Republican Lindsey Graham penned the DASKAA legislation. “The sheer momentum building behind these various bills means that it is becoming very likely something gets passed,” a sovereign strategist said.

[ August 16 New U.S. sanctions against banks ]

The following administrative changes have been made to OFAC’s SDN List:

BANK OF EAST LAND (a.k.a. DONGBANG BANK; a.k.a. TONGBANG BANK; a.k.a. TONGBANG U’NHAENG), PO Box 32, BEL Building, Jonseung-Dong, Moranbong District, Pyongyang, Korea, North; SWIFT/BIC BOEL KP PY [DPRK]. -to- BANK OF EAST LAND (a.k.a. DONGBANG BANK; a.k.a. TONGBANG BANK; a.k.a. TONGBANG U’NHAENG), PO Box 32, BEL Building, Jonseung-Dong, Moranbong District, Pyongyang, Korea, North; SWIFT/BIC BOELKPPY [DPRK].

BANK ROSSIYA (a.k.a. AB ROSSIYA, OAO; f.k.a. AKTSIONERNY BANK RUSSIAN FEDERATION; a.k.a. OTKRYTOE AKTSIONERNOE OBSHCHESTVO AKTSIONERNY BANK ROSSIYA), 2 Liter A Pl. Rastrelli, Saint Petersburg 191124, Russia; SWIFT/BIC ROSY RU 2P; Website http://www.abr.ru; Email Address bank@abr.ru; Registration ID 1027800000084 (Russia); Tax ID No. 7831000122 (Russia); Government Gazette Number 09804148 (Russia) [UKRAINE-EO13661]. -to- BANK ROSSIYA (a.k.a. AB ROSSIYA, OAO; f.k.a. AKTSIONERNY BANK RUSSIAN FEDERATION; a.k.a. OTKRYTOE AKTSIONERNOE OBSHCHESTVO AKTSIONERNY BANK ROSSIYA), 2 Liter A Pl. Rastrelli, Saint Petersburg 191124, Russia; SWIFT/BIC ROSYRU2P; Website http://www.abr.ru; Email Address bank@abr.ru; Registration ID 1027800000084 (Russia); Tax ID No. 7831000122 (Russia); Government Gazette Number 09804148 (Russia) [UKRAINE-EO13661].

CHEIL CREDIT BANK (a.k.a. FIRST CREDIT BANK; f.k.a. “KYONGYONG CREDIT BANK”), 3-18 Pyongyang Information Center, Potonggang District, Pyongyang, Korea, North; Beijing, China; Shenyang, China; Shanghai, China; SWIFT/BIC KYCBKPPYXXX [DPRK4]. -to- CHEIL CREDIT BANK (a.k.a. FIRST CREDIT BANK; f.k.a. “KYONGYONG CREDIT BANK”), 3-18 Pyongyang Information Center, Potonggang District, Pyongyang, Korea, North; Beijing, China; Shenyang, China; Shanghai, China; SWIFT/BIC KYCBKPPY [DPRK4].

COMMERCIAL BANK OF SYRIA, P.O. Box 933, Yousef Azmeh Square, Damascus, Syria; Aleppo Branch, P.O. Box 2, Kastel Hajjarin St., Aleppo, Syria; Damascus Branch, P.O. Box 2231, Moawiya St., Damascus, Syria; SWIFT/BIC CMSY SY DA; all offices worldwide [NPWMD]. -to- COMMERCIAL BANK OF SYRIA, P.O. Box 933, Yousef Azmeh Square, Damascus, Syria; Aleppo Branch, P.O. Box 2, Kastel Hajjarin St., Aleppo, Syria; Damascus Branch, P.O. Box 2231, Moawiya St., Damascus, Syria; SWIFT/BIC CMSYSYDA; all offices worldwide [NPWMD].

DAEDONG CREDIT BANK (a.k.a. DAE-DONG CREDIT BANK; a.k.a. DCB; a.k.a. TAEDONG CREDIT BANK), Suite 401, Potonggang Hotel, Ansan-Dong, Pyongchon District, Pyongyang, Korea, North; Ansan-dong, Botongang Hotel, Pongchon, Pyongyang, Korea, North; SWIFT/BIC DCBK KPPY [NPWMD]. -to- DAEDONG CREDIT BANK (a.k.a. DAE-DONG CREDIT BANK; a.k.a. DCB; a.k.a. TAEDONG CREDIT BANK), Suite 401, Potonggang Hotel, Ansan-Dong, Pyongchon District, Pyongyang, Korea, North; Ansan-dong, Botongang Hotel, Pongchon, Pyongyang, Korea, North; SWIFT/BIC DCBKKPPY [NPWMD].

FOREIGN TRADE BANK OF THE DEMOCRATIC PEOPLE’S REPUBLIC OF KOREA (a.k.a. KOREA TRADE BANK; a.k.a. MOOYOKBANK; a.k.a. NORTH KOREA’S FOREIGN TRADE BANK), FTB Building, Jungsong-dong, Central District, Pyongyang, Korea, North; SWIFT/BIC FTBD KP PY [NPWMD] [DPRK3]. -to- FOREIGN TRADE BANK OF THE DEMOCRATIC PEOPLE’S REPUBLIC OF KOREA (a.k.a. KOREA TRADE BANK; a.k.a. MOOYOKBANK; a.k.a. NORTH KOREA’S FOREIGN TRADE BANK), FTB Building, Jungsong-dong, Central District, Pyongyang, Korea, North; SWIFT/BIC FTBDKPPY [NPWMD] [DPRK3].

HANA BANKING CORPORATION LTD (a.k.a. BRILLIANCE BANKING CORPORATION, LTD.; a.k.a. GORGEOUS BANK OF NORTH KOREA; a.k.a. HUALI BANK (Chinese Simplified: 朝鲜华丽银行); a.k.a. HWARYO BANK (Korean: 화려은행)), Haebangsan Hotel, Jungsong-Dong, Sungri Street, Central District, Pyongyang, Korea, North; Dandong, China; SWIFT/BIC BRBKKPP1XXX [DPRK3]. -to- HANA BANKING CORPORATION LTD (a.k.a. BRILLIANCE BANKING CORPORATION, LTD.; a.k.a. GORGEOUS BANK OF NORTH KOREA; a.k.a. HUALI BANK (Chinese Simplified: 朝鲜华丽银行); a.k.a. HWARYO BANK (Korean: 화려은행)), Haebangsan Hotel, Jungsong-Dong, Sungri Street, Central District, Pyongyang, Korea, North; Dandong, China; SWIFT/BIC BRBKKPP1 [DPRK3].

IS BANK, AO (a.k.a. AKTSIONERNOE OBSHCHESTVO KOMMERCHESKI BANK INDUSTRIALNY SBEREGATELNY BANK; f.k.a. CLOSED JOINT STOCK COMPANY COMMERCIAL BANK ‘INDUSTRIAL SAVINGS BANK’; a.k.a. JOINT-STOCK COMPANY COMMERCIAL BANK ‘INDUSTRIAL SAVINGS BANK’; a.k.a. JSC CB ‘IS BANK’), Eldoradovsky per 7, Moscow 125167, Russia; 29/UL, prospect Kirova, Simferopol, Crimea 295011, Ukraine; Building 160, Office 104, Kievskaya Street, Simferopol, Crimea 295493, Ukraine; Building 25, Lenin Street, Kerch, Crimea 298300, Ukraine; SWIFT/BIC RISB RU MM; BIK (RU) 044525349; Registration ID 1027739339715 (Russia); Tax ID No. 7744001673 (Russia); Government Gazette Number 40199908 (Russia) [UKRAINE-EO13685]. -to- IS BANK, AO (a.k.a. AKTSIONERNOE OBSHCHESTVO KOMMERCHESKI BANK INDUSTRIALNY SBEREGATELNY BANK; f.k.a. CLOSED JOINT STOCK COMPANY COMMERCIAL BANK ‘INDUSTRIAL SAVINGS BANK’; a.k.a. JOINT-STOCK COMPANY COMMERCIAL BANK ‘INDUSTRIAL SAVINGS BANK’; a.k.a. JSC CB ‘IS BANK’), Eldoradovsky per 7, Moscow 125167, Russia; 29/UL, prospect Kirova, Simferopol, Crimea 295011, Ukraine; Building 160, Office 104, Kievskaya Street, Simferopol, Crimea 295493, Ukraine; Building 25, Lenin Street, Kerch, Crimea 298300, Ukraine; SWIFT/BIC RISBRUMM; BIK (RU) 044525349; Registration ID 1027739339715 (Russia); Tax ID No. 7744001673 (Russia); Government Gazette Number 40199908 (Russia) [UKRAINE-EO13685].

JOINT STOCK COMMERCIAL BANK RUBLEV (a.k.a. AKTSIONERNOE OBSHCHESTVO KOMMERCHESKI BANK RUBLEV; a.k.a. BANK RUBLEV; a.k.a. JSC CB ‘RUBLEV’; a.k.a. RUBLEV BANK), Elokhovsky passage, Building 3, p. 2, Metro – Baumanskaya, Moscow 105066, Russia; 12 Sevastopol Street, Simferopol, Crimea, Ukraine; 6 Gogol Street, Sevastopol, Crimea, Ukraine; SWIFT/BIC COUE RU MM; BIK (RU) 044525253; Registration ID 1027700159233 (Russia); Tax ID No. 7744001151 (Russia); Government Gazette Number 40100094 (Russia) [UKRAINE-EO13685]. -to- JOINT STOCK COMMERCIAL BANK RUBLEV (a.k.a. AKTSIONERNOE OBSHCHESTVO KOMMERCHESKI BANK RUBLEV; a.k.a. BANK RUBLEV; a.k.a. JSC CB ‘RUBLEV’; a.k.a. RUBLEV BANK), Elokhovsky passage, Building 3, p. 2, Metro – Baumanskaya, Moscow 105066, Russia; 12 Sevastopol Street, Simferopol, Crimea, Ukraine; 6 Gogol Street, Sevastopol, Crimea, Ukraine; SWIFT/BIC COUERUMM; BIK (RU) 044525253; Registration ID 1027700159233 (Russia); Tax ID No. 7744001151 (Russia); Government Gazette Number 40100094 (Russia) [UKRAINE-EO13685].

JOINT-STOCK COMPANY COMMERCIAL BANK NORTH CREDIT (a.k.a. JSC CB NORTH CREDIT; a.k.a. NORTH CREDIT BANK), Building 27, Herzen Street, Vologda, Vologda Oblast 160000, Russia; Building 29a, Zhelyabova Street, Simferopol, Crimea 295011, Ukraine; ul. Gertsena 27, Vologda, Vologodskaya Oblast 160000, Russia; SWIFT/BIC NOCR RU 21; BIK (RU) 041909769; Registration ID 1022900001772 (Russia); Tax ID No. 2901009852 (Russia) [UKRAINE-EO13685]. -to- JOINT-STOCK COMPANY COMMERCIAL BANK NORTH CREDIT (a.k.a. JSC CB NORTH CREDIT; a.k.a. NORTH CREDIT BANK), Building 27, Herzen Street, Vologda, Vologda Oblast 160000, Russia; Building 29a, Zhelyabova Street, Simferopol, Crimea 295011, Ukraine; ul. Gertsena 27, Vologda, Vologodskaya Oblast 160000, Russia; SWIFT/BIC NOCRRU21; BIK (RU) 041909769; Registration ID 1022900001772 (Russia); Tax ID No. 2901009852 (Russia) [UKRAINE-EO13685].

KOREA DAESONG BANK (a.k.a. CHOSON TAESONG UNHAENG; a.k.a. TAESONG BANK), Segori-dong, Gyongheung St., Potonggang District, Pyongyang, Korea, North; SWIFT/BIC KDBK KP PY; PHONE 850 2 381 8221; PHONE 850 2 18111 ext. 8221; FAX 850 2 381 4576; TELEX 360230 and 37041 KDP KP; TGMS daesongbank; EMAIL kdb@co.chesin.com [DPRK]. -to- KOREA DAESONG BANK (a.k.a. CHOSON TAESONG UNHAENG; a.k.a. TAESONG BANK), Segori-dong, Gyongheung St., Potonggang District, Pyongyang, Korea, North; SWIFT/BIC KDBKKPPY; PHONE 850 2 381 8221; PHONE 850 2 18111 ext. 8221; FAX 850 2 381 4576; TELEX 360230 and 37041 KDP KP; TGMS daesongbank; EMAIL kdb@co.chesin.com [DPRK].

REAL ESTATE BANK (a.k.a. REAL-ESTATE BANK), P.O. Box 2337, Insurance Bldg., Youssef Alazma Square, Damascus, Syria; Syrian General Insurance Company Building, Youssef Al Azmeh Square, P.O. Box 2337, Damascus, Syria; SWIFT/BIC REBS SY DA [SYRIA]. -to- REAL ESTATE BANK (a.k.a. REAL-ESTATE BANK), P.O. Box 2337, Insurance Bldg., Youssef Alazma Square, Damascus, Syria; Syrian General Insurance Company Building, Youssef Al Azmeh Square, P.O. Box 2337, Damascus, Syria; SWIFT/BIC REBSSYDA [SYRIA].

RUSSIAN NATIONAL COMMERCIAL BANK (a.k.a. RNKB OAO; a.k.a. ROSSISKI NATSIONALNY KOMMERCHESKI BANK OTKRYTOE AKTSIONERNOE OBSHCHESTVO; a.k.a. “RNCB”), d. 9 korp. 5 ul.Krasnoproletarskaya, Moscow 127030, Russia; SWIFT/BIC RNCO RU MM; Website http://www.rncb.ru; Email Address rncb@rncb.ru; BIK (RU) 044525607; Registration ID 1027700381290 (Russia); Tax ID No. 7701105460 (Russia); Government Gazette Number 09610705 (Russia) [UKRAINE-EO13685]. -to- RUSSIAN NATIONAL COMMERCIAL BANK (a.k.a. RNKB OAO; a.k.a. ROSSISKI NATSIONALNY KOMMERCHESKI BANK OTKRYTOE AKTSIONERNOE OBSHCHESTVO; a.k.a. “RNCB”), d. 9 korp. 5 ul.Krasnoproletarskaya, Moscow 127030, Russia; SWIFT/BIC RNCORUMM; Website http://www.rncb.ru; Email Address rncb@rncb.ru; BIK (RU) 044525607; Registration ID 1027700381290 (Russia); Tax ID No. 7701105460 (Russia); Government Gazette Number 09610705 (Russia) [UKRAINE-EO13685].

SYRIA INTERNATIONAL ISLAMIC BANK (a.k.a. SIIB; a.k.a. SYRIAN INTERNATIONAL ISLAMIC BANK), Syria International Islamic Building , Main Highway Road, Al Mazzeh Area, P.O. Box 35494, Damascus , Syria; PO Box 35494, Mezza’h Vellat Sharqia’h, beside the Saudi Arabia Consulate , Damascus , Syria; SWIFT/BIC SIIB SY DA; all offices worldwide [NPWMD]. -to- SYRIA INTERNATIONAL ISLAMIC BANK (a.k.a. SIIB; a.k.a. SYRIAN INTERNATIONAL ISLAMIC BANK), Syria International Islamic Building , Main Highway Road, Al Mazzeh Area, P.O. Box 35494, Damascus , Syria; PO Box 35494, Mezza’h Vellat Sharqia’h, beside the Saudi Arabia Consulate , Damascus , Syria; SWIFT/BIC SIIBSYDA; all offices worldwide [NPWMD].

SYRIAN LEBANESE COMMERCIAL BANK, Hamra, Makdessi Street, SLCB Building, P.O. Box 113-5127/11-8701, Beirut, Lebanon; Hamra Branch, Hamra St., Darwish and Fakhro Building, P.O. Box 113-5127/11-8701, Beirut, Lebanon; Mar Elias Branch, Mar Elias Street, Fakhani Building, P.O. Box 145 796, Beirut, Lebanon; SWIFT/BIC SYLC LB BE [NPWMD]. -to- SYRIAN LEBANESE COMMERCIAL BANK, Hamra, Makdessi Street, SLCB Building, P.O. Box 113-5127/11-8701, Beirut, Lebanon; Hamra Branch, Hamra St., Darwish and Fakhro Building, P.O. Box 113-5127/11-8701, Beirut, Lebanon; Mar Elias Branch, Mar Elias Street, Fakhani Building, P.O. Box 145 796, Beirut, Lebanon; SWIFT/BIC SYLCLBBE [NPWMD].

VVB, PAO (f.k.a. COMMERCIAL JOINT-STOCK INCORPORATION BANK YAROSLAVICH; f.k.a. KOMMERCHESKI BANK YAROSLAVICH, PAO; a.k.a. PJSC BANK VVB; a.k.a. PUBLIC JOINT-STOCK COMPANY BANK VVB; a.k.a. PUBLICHNOE AKTSIONERNOE OBSHCHESTVO BANK VVB; a.k.a. PUBLICHNOYE JOINT-STOCK COMPANY BANK VVB), 3A ul., 4-ya Bastionnaya, Sevastopol, Crimea 299011, Ukraine; Voronina, 10, Sevastopol, Crimea 299011, Ukraine; 39A Ul. Suvorova, Sevastopol, Crimea, Ukraine; 5 Per. Pionerskiy, Simferopol, Crimea, Ukraine; SWIFT/BIC YARO RU 21; BIK (RU) 046711106; alt. BIK (RU) 043510133 [UKRAINE-EO13685]. -to- VVB, PAO (f.k.a. COMMERCIAL JOINT-STOCK INCORPORATION BANK YAROSLAVICH; f.k.a. KOMMERCHESKI BANK YAROSLAVICH, PAO; a.k.a. PJSC BANK VVB; a.k.a. PUBLIC JOINT-STOCK COMPANY BANK VVB; a.k.a. PUBLICHNOE AKTSIONERNOE OBSHCHESTVO BANK VVB; a.k.a. PUBLICHNOYE JOINT-STOCK COMPANY BANK VVB), 3A ul., 4-ya Bastionnaya, Sevastopol, Crimea 299011, Ukraine; Voronina, 10, Sevastopol, Crimea 299011, Ukraine; 39A Ul. Suvorova, Sevastopol, Crimea, Ukraine; 5 Per. Pionerskiy, Simferopol, Crimea, Ukraine; SWIFT/BIC YARORU21; BIK (RU) 046711106; alt. BIK (RU) 043510133 [UKRAINE-EO13685].

https://home.treasury.gov/news/press-releases/sm458

 Kweku Adoboli was released from prison in June

Kweku Adoboli 

With the hours ticking down to his deportation, Adoboli’s lawyers submitted an application for a judicial review of his case a judge granted the appeal for judicial review and injunction against deportation. Kweku Adoboli was the banker convicted of the UK’s biggest fraud but there were appeals from 132 MPs and a petition signed by more than 73,000 people and he expects to be released on bail until the outcome of the judicial review, he was facing deportation because he had never applied for British citizenship despite having lived in the UK since he was 12.

 

[Octpber 12 2015   may be deported   ]

Kweku Adoboli, a former UBS Group AG trader who caused a $2.3 billion loss through unauthorized trading, will fight a U.K. immigration tribunal’s decision to deport him to Ghana.
Adoboli, who was sentenced to seven years in prison in Nov. 2012, will lodge an appeal against the ruling handed down last week, his lawyer, Paul Lennon of London-based Bark & Co. said by e-mail. Ghana-born Adoboli was released from prison in June.
Adoboli was convicted of two counts of fraud for causing the loss at UBS’s London unit. He argued at trial that managers at Zurich-based UBS pushed him to take too many risks and that rule-breaking at the bank was rampant. While he admitted causing the loss, he said it wasn’t done dishonestly.
Though Adoboli has lived in England for 23 years, he doesn’t hold British citizenship.

[December 09 2012 UBS trader Kweku Adoboli’s boss claims racial discrimination]
Ronald Greenidge, the former UBS AG (UBSN) managing director fired for gross misconduct in his supervision of convicted trader Kweku Adoboli has sued the bank claiming it treated him more harshly than others because he’s black.
Greenidge, who was UBS’s head of European cash trading, alleges race discrimination and unfair dismissal. “There are stark discrepancies” between UBS’s treatment of Greenidge and other people connected to Kweku Adoboli, according to the complaint. Greenidge “is of black Caribbean origin. Mr. Adoboli is of black African origin. The claimant believes he has been treated less favorably than his” white counterparts.
Adoboli, originally from Ghana, was sentenced to seven years in prison on Nov. 20 for fraud tied to a $2.3 billion loss, the largest from unauthorized trading in U.K. history

Chief executive Sergio Ermotti has moved to shut down most of UBS’s fixed income business, cut 10,000 jobs, and instead squeeze more juice from its wealth operations. Elsewhere Dexia is in exclusive talks over the sale of its asset management unit to private equity firm GCS Capital, Credit Suisse has reportedly put its $17bn exchange traded fund arm on the market, while Deutsche tried and rather miserably failed to offload large chunks of its asset management operations.

[January 30]
Alleged rogue trader Kweku Adoboli has pleaded not guilty to two charges of false accounting and two of fraud while working for Swiss bank UBS.
[October 5 2011]UBS AG (UBSN), Switzerland’s biggest bank, said Francois Gouws and Yassine Bouhara resigned as co-heads of global equities following the $2.3 billion unauthorized trading loss detected last month.

[Sept. 24]Oswald Gruebel, chief executive officer of UBS AG (UBSN) since February 2009, resigned his post at Switzerland’s largest bank after a $2.3 billion loss from unauthorized trading.

He will be replaced on an interim basis by Sergio P. Ermotti, the bank’s CEO for Europe, the Middle East and Africa, UBS said

UBS’s Americas investment-banking division will spend part of the week golfing at California resort Pebble Beach with the company’s top clients

Now 2.3 bn: UBS trader Kweku Adoboli had no hedges in place , breaching the risk limits, then entered “fictitious” hedges. The UBS statement claimed Mr Adoboli had conducted legitimate derivative transactions, giving the bank heavy exposure to various stock market indexes. But he had then entered “fictitious” hedges against these positions into UBS’ risk management system, while in reality he had no hedge in place and was breaching the risk limits that the bank required him to work within.

UBS, for example, is offering managing directors base pay as high as 300,000 pounds ($470,000), double the amount of last May. [February 2010]
“How are you going to explain to your shareholders and employees that you’ve lost this amount from the acts of a single young employee in a trading room?”
City experts questioned how many other rogue trader cases never get exposed. Onno Steenbeck of Erasmus University in Rotterdam, a co-author of a paper on Leeson’s strategy, said: “Leeson believed in doubling up, like a naive gambler. He sometimes got lucky and got out of the misery but nobody knows how many Nick Leesons there are who got lucky and we never found out about.”
One current hedge fund trader, who declined to be named, added: “Of course there are bound to be people on the other side [of the UBS losses] who made miraculously large sums of money that weren’t authorised. They will be kept quiet. You won’t hear about it.”

His desk specialized in ETFs. But the alleged scheme centered not on the trading of those relatively plain-vanilla securities but on the hedging of risk, people familiar with the matter said. The false accounting charges, said to have taken place between October 2008 and December 2009, and January 2010 and September 2011, said UBS trader Kweku Adoboli had falsified “an exchange traded fund made or acquired for an accounting purpose” and falsified “an exchange traded fund transaction and other internal records.” UBS believes that the losses were accumulated in a large number of small trades over many months, not in one big deal.

As the City tough guy Paul Myners reportedly said, we never hear about the unauthorised rogue profits that arise from casino-style speculations – only about the rogue losses that are adding to market instability at a really unhelpful time.
Whether UBS is shown to have been aware of Adoboli’s trading is almost beside the point. If the bank was aware of it and did not stop it, then its failure to do so is unconscionable. If it was not aware of the trades, then its compliance and risk management departments’ failure to prevent them from happening in the first place is equally appalling.
In the post-Lehman, Dodd-Frank, Basel-III era, it is nearly unfathomable that a global bank of UBS’s heft, wealth and importance could allow this kind of loss to occur. Where were the adults?
>>>If it was possible there, where else?

 Tower Research Capital LLCThe SEC ordered Citigroup Inc on September 15 to pay more than $12 million. It found Citigroup Global Markets Inc misled users with assurances that high-frequency traders were not allowed to trade on Citi Match, a premium-priced dark pool platform operated by CORE [software architecture to power its dark pool.], when two of its most active users reasonably qualified as such traders and had executed more than $9 billion of orders through the pool.

The regulator also found that Citigroup Global did not disclose that over a period of more than two years, nearly half of its dark-pool orders were routed to and executed on other trading venues that did not offer the same premium features as Citi’s.

Citigroup Global also sent trade confirmation messages to certain users that indicated their orders had been executed on Citi’s own platform when in fact those orders were executed on an outside venue, the SEC said.

 

[November 16, 2017   Credit Suisse execs deliberately fostered corrupt culture   ]

creditsuisse-web-241200xx2619-1473-0-137

Credit Suisse Managing Director Dan Seabolt, Site Lead Jim Captain and Wilson Ervin, vice chairman of Credit Suisse’s group executive office in New York,

Financial Services Superintendent Maria T. Vullo today announced that Credit Suisse AG agreed to pay a $135 million fine as part of a consent order “Certain Credit Suisse executives in the bank’s foreign exchange unit deliberately fostered a corrupt culture that failed to implement effective controls in its foreign exchange trading business, which allowed the bank’s foreign exchange traders and others to violate New York State law and repeatedly abuse the trust of their customers over the course of many years,” said Superintendent Vullo.

[January 10 Tough case against Chat Room guys ]

300px-stockbroker

 

The imminent criminal charges are against members of ‘The Cartel’ chat group, would make good on the government’s long-running promise it would hold individuals to account in the case.   The men are located outside of the U.S., meaning they would have to be extradited, a process that can take months, if not years.  The senior dealers who participated in The Cartel were Richard Usher, formerly of JPMorgan Chase & Co., Rohan Ramchandani, formerly of Citigroup Inc. and Chris Ashton, formerly global head of spot trading at Barclays Plc. Another member, Matt Gardiner, formerly of UBS Group AG, has been helping prosecutors build cases against the traders.   Citigroup, Barclays, JPMorgan and Royal Bank of Scotland Group Plc pleaded guilty in the U.S. in May 2015 to conspiring to rig currency rates.

[March 24 2016 Credit Suisse Group AG triggered $258 million of writedowns 2016 through March 11, after $495 million of losses in the fourth quarter 2015. ]

collateralized_loan_ob

Credit Suisse Group AG announced that a buildup of illiquid trading positions means the bank will probably post a second straight quarterly loss as it unwinds the trades and deepens cuts at that business.   Mark Williams, “Either trades were fraudulent and traders should be fired or senior management should take responsibility for allowing excessive risk-taking to happen.The CEO’s admission that he wasn’t aware of the bank’s exposures to securitized products and distressed debt is “somewhat alarming,”    The stock has tumbled about 39 percent so far this year, almost twice as much as the index.   The Zurich-based lender’s holdings of distressed debts, leveraged loans and securitized products, including collateralized loan obligations, triggered $258 million of writedowns this year through March 11, after $495 million of losses in the fourth quarter, according to a presentation.

[January 31 Barclays, Credit Suisse pay up for ‘Dark Pools’ ]

 Tower Research Capital LLC

Tower Research Capital LLC

 

 

Barclays, Credit Suisse are expected to pay a combined total of $154.3 million o settle federal and state charges that they misled investors in their dark pools and an additional $24.3 million by Credit Suisse in disgorgement to the SEC for executing 117 illegal sub-penny orders out of its dark pool known as “Crossfinder.”.

 

[January 23 2015 High-frequency trading operations listed in complaint against Barclays]
Dark pools , where ‘high frequency trade’ firms traded, accounted for 15 percent of total U.S. volume in the third quarter. New York Attorney General Eric Schneiderman filed his suit against Barclays under the Martin Act, an almost century-old law that gives him broad powers to root out corporate fraud. Barclays was misleading its dark pool customers that it was monitoring and suppressing “predatory” trading by such firms, while simultaneously soliciting business from those firms, according to the complaint.
Almost a year after he made a splash with subpoenas of six high-frequency trading operations, the names of some of these firms, Jump Trading LLC, Chopper Trading LLC and Tower Research Capital LLC, cropped up in documents filed this week in the state court in Manhattan. The firms aren’t defendants, though. They are listed as part of Schneiderman’s proposed updated complaint against Barclays, which ran the private trading venue, or dark pool, where these firms traded.

[January 22 BOE “bully the fix”: wrong to interpret that they were talking about “illegal manipulation”]

Anthony Grabiner, the lawyer who led the probe

Anthony Grabiner, the lawyer who led the probe

A global probe of foreign exchange dealings has exposed cozy relations between the BOE and banks. “The fix” is a benchmark for currencies rates. Traders are executing unnecessarily large transactions to move rates around in their own favor. In March 2014, The Bank’s governor, Mark Carney, told MPs this week that the scandal had the potential to be bigger than the rigging of Libor, which has resulted in big-name banks being fined billions of pounds on both sides of the Atlantic.
The Bank of England’s Oversight Committee commissioned Grabiner to investigate whether BOE staff knew currency traders shared confidential client information with counterparts at other firms to rig key currency benchmarks. His report found the central bank’s chief currency dealer, Martin Mallett, had concerns about the practice and didn’t escalate them, but hadn’t acted “in bad faith.” It was published Nov. 12, the same day six banks were fined $4.3 billion by U.S. and U.K. regulators who found senior dealers colluded with one another to rig currency markets. Traders, some of whom were subsequently fired for their activity, interpreted the central bank’s silence as an indication that it regarded their behavior as acceptable, according to people familiar with the traders’ thinking.
The central bank separately announced that day that it fired Mallett, saying it wasn’t related to Grabiner’s report. Anthony Grabiner, the lawyer who led the probe, refused to comment on Mallett’s dismissal.

Norman took issue with Grabiner’s interpretation of a telephone call in October 2011 between Mallett and an unidentified currency trader that was included in his report.

The trader asked whether trying to “bully the fix” was problematic. “Well that’s market manipulation isn’t it?” Mallett responded.

“Yep absolutely,” the trader said, according to the report. Mallett asked the trader to follow up with him about the practice. The trader never did, and Mallett kept it to himself.

Grabiner then said it was wrong to interpret that they were talking about “illegal manipulation,” and said there were instances where market manipulation could be legitimate.

Norman disagreed, saying it was clear that he was talking about illegal manipulation. He also questioned why Grabiner relied on the written transcript rather than listen to the actual call to hear any nuances in the exchange.
Grabiner said Norman was “wrong” and not equipped to form that judgment, saying that his own interpretation following interviews with Mallett was “right.” No one he spoke with challenged whether the transcripts gave a full picture of the exchanges, Grabiner said, so he didn’t need to hear recordings.
Treasury Select Committee members quizzed, on whether he too readily accepted a former central bank employee’s version of key events. They also questioned the depth of his knowledge of the currency market and how long he spent on the report.

[January 13 Paul Nash arrested by SFO, but not charged, in rigging the $5.3tn-a-day foreign-exchange market]

The Serious Fraud Office, UK’s top fraud prosecutor, has arrested a currency trader Paul Nash in relation to its criminal investigation into whether individuals rigged the $5.3tn-a-day foreign-exchange market, Criminal investigations, including that of the SFO, are ongoing. The arrest is not linked to former traders who were members of a chat room dubbed “the cartel”, according to people familiar with the situation. Nash emigrated to Canada on Christmas Day and has rented out his family home. His arrest was not by appointment, as is typical in such cases, but was an “arrest and raid”
Nash, who has not been charged with any offence, appeared at Westminster Magistrates’ Court on Dec. 23 over variations to his bail conditions. These included that he would reside at a specified address in British Columbia.

 

 

 

November 17, 2014 Britain’s big five will incur another £21bn – with other European banks and US firms taking that total to £45bn.]

“It’s inconceivable that the odour of what was going on did not reach the noses of those at the top.”-t former City minister Lord Myners[Economic Secretary to the Treasury ][Paul Myners, Baron Myners].

“It’s inconceivable that the odour of what was going on did not reach the noses of those at the top.”-t former City minister Lord Myners[Economic Secretary to the Treasury ][Paul Myners, Baron Myners].

So far £150bn in fines and legal costs have already been incurred by big-name banks, according to analysts at Morgan Stanley, who reckon that in the next two years Britain’s big five will incur another £21bn – with other European banks and US firms taking that total to £45bn. Last week’s revelations of the free-for-all culture in the dealing rooms of the City also look set to be repeated soon. Other regulators are still investigating the foreign exchange markets and US attorney general Eric Holder expects his department to finish the investigation “relatively soon” – a development that could lead to both civil and criminal charges. . Some 13 individuals face charges linked to Libor rigging. The SFO’s investigation into the foreign exchange markets is in the early stages; and Chancellor George Osborne on Friday promised resources for action by the Serious Fraud Office.

[November 12 I trust you implicitly :Examples of Misconduct in Private Chat Rooms]
I trust you implicitly

Regulators fined six major banks including Citigroup (C.N) and UBS (UBSN.VX) a total of $4.3 billion for failing to stop traders from trying to manipulate the foreign exchange market, following a year-long global investigation.

HSBC (HSBA.L), Royal Bank of Scotland (RBS.L), JP Morgan (JPM.N) and Bank of America (BAC.N) also face penalties resulting from the inquiry that has put the largely unregulated $5 trillion-a-day market on a tighter leash, accelerated the push to automate trading and ensnared the Bank of England.

[November 11 HSBC sets aside £237m for FCA forex investigation , Group pre-tax profits rose to £2.89bn in Q3

HSBC Stuart Gulliver to get 70% pay rise - taking his salary to £4.2m a year [ 25 February 2014]

HSBC Stuart Gulliver to get 70% pay rise – taking his salary to £4.2m a year [ 25 February 2014]

HSBC has set aside £237m to cover the costs of an FCA investigation into the manipulation of foreign exchange markets. “Discussions are ongoing with the FCA regarding a proposed resolution of their foreign exchange investigation with respect to HSBC Bank’s systems and controls relating to one part of its spot FX trading business in London.

“Although there can be no certainty that a resolution will be agreed, if one is reached, the resolution is likely to involve the payment of a significant financial penalty. We continue to co-operate fully with regulatory and law enforcement authorities in the UK and other jurisdictions.”

Group pre-tax profits rose 2 per cent from £2.84bn in Q3 2013 to £2.89bn in the three months to 30 September.

[december 11 2012 U.S. decides HSBC too big to Indict?]

HSBC’s Gulliver and friend

HSBC has agreed to pay $1.9bn in settlement of U.S. money-laundering charges.
State and federal authorities decided against indicting HSBC in a money-laundering case over concerns that criminal charges could jeopardize one of the world’s largest banks and ultimately destabilize the global financial system.

While the settlement with HSBC is a major victory for the government, the case raises questions about whether certain financial institutions, having grown so large and interconnected, are too big to indict.
After months of discussions, prosecutors decided against a criminal indictment, but only after securing record penalties and wide-ranging sanctions.

The HSBC deal includes a deferred prosecution agreement with the Manhattan district attorney’s office and the Justice Department. The deferred prosecution agreement, a notch below a criminal indictment, requires the bank to forfeit more than $1.2 billion and pay about $700 million in fines, according to the officials briefed on the matter. The case, officials say, will claim violations of the Bank Secrecy Act and Trading with the Enemy Act.

Prosecutors found that HSBC had facilitated money laundering by Mexican drug cartels and had moved tainted money for Saudi banks tied to terrorist groups.

On November 11 HSBC said it had “reached agreement with United States authorities in relation to investigations regarding inadequate compliance with anti-money laundering and sanctions laws.” The bank is also expected to reach a settlement over the matter with Britain’s Financial Services Authority, according to a person with direct knowledge of the matter.

November 10, federal and state authorities also won a $327 million settlement from Standard Chartered, a British bank. The bank, which in September agreed to a larger settlement with New York’s top banking regulator, admitted processing thousands of transactions for Iranian and Sudanese clients through its American subsidiaries. To avoid having Iranian transactions detected by Treasury Department computer filters, Standard Chartered deliberately removed names and other identifying information, according to the authorities.

“HSBC has signed a Deferred Prosecution Agreement for breaches of the US Bank Secrecy Act, the Trading with the Enemy Act and assorted money laundering offences. This is in effect putting the bank on probation,” he said.

“But if HSBC had been indicted for these offences, that would have meant that the US government and others could no longer have conducted business with it, which would have been humiliating and highly damaging.”
The bank is the biggest in Europe by market capitalisation, and made pre-tax profits of $12.7bn for the first six months of 2012.

Image result for ABV CannabisABV Cannabis, a Colorado-based startup that sells marijuana vaping pens instead of booze is from Adolphus Busch V — great-great-grandson of the legendary beer pioneer — 27-year-old Busch says he pivoted to pot after a failed attempt to get an entry-level gig at Anheuser-Busch upon graduating from college in 2013. Nepotism rules at parent company Anheuser-InBev cited a “conflict of interest,” according to Busch.

 

[   August Adolphus Busch IV was held in the Swansea Police Department until July 11 afternoon   ]

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Busch with his wife, Dawna M. Wood

August Adolphus Busch IV, the former CEO of Anheuser-Busch, was held in the Swansea Police Department until Tuesday afternoon after a helicopter landed at Bronze Pointe Office Park overnight. August Adolphus Busch IV used a Swansea parking lot to land his helicopter for eight hours is a mystery to most folks.

 

 

[April 20 2011 August Busch IV has agreed to pay $1.5 million to settle]

52c87d06-80f1-4742-856c-751686bf22aaAugust Busch IV has agreed to pay $1.5 million to settle a wrongful-death lawsuit over the accidental drug overdose death of his girlfriend, Adrienne Martin, at his mansion, according to court records.

The proposed settlement, which is subject to judicial review next month, is a negotiated agreement between attorneys for Busch and Dr. Kevin Martin, the ex-husband of Adrienne Martin and father of her 8-year-old son.Christine Trampler, Adrienne Martin’s mother, has told the Post-Dispatch previously that she intends to seek custody of Blake Martin, although she has yet to take legal action. Judge William Syler will decide if the settlement is in the best interest of the child. If he approves it, the judge could allocate a portion of the proceeds to Adrienne Martin’s parents.