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Stock Market & Financial Investment News

News Breaks
July 28, 2014
08:38 EDTLYGLloyds agrees to settlements with CFTC, DOJ, FCA over LIBOR rigging charges
The U.S. Commodity Futures Trading Commission issued an Order against Lloyds Banking bringing and settling charges for acts of false reporting and attempted manipulation of the London Interbank Offered Rate for Sterling, U.S. Dollar, and Yen committed by employees of Lloyds TSB and HBOS plc, which was acquired by Lloyds Banking Group in January 2009. The Order finds that, in a few instances, Lloyds TSB was successful in its manipulation of Sterling LIBOR and Yen LIBOR. The CFTC also brought and settled charges that Lloyds TSB, at times, aided and abetted the attempts of derivatives traders at Rabobank to manipulate Yen LIBOR. The Order requires Lloyds Banking Group and Lloyds Bank to pay a $105M civil monetary penalty, cease and desist from their violations of the Commodity Exchange Act, and to adhere to specific undertakings to ensure the integrity of LIBOR submissions in the future. In a related action, the U.S. Department of Justice entered into a deferred prosecution agreement with Lloyds Banking Group, deferring criminal wire fraud charges in exchange for Lloyds Banking Group continuing to cooperate and agreeing to an $86M penalty. In addition, the United Kingdom Financial Conduct Authority issued a Final Notice regarding its enforcement action against Lloyds Bank and Bank of Scotland plc and imposed collectively on both firms a penalty of approximately $179M.
News For LYG From The Last 14 Days
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November 19, 2014
07:37 EDTLYGCitigroup to hold a conference
Global Financial Conference is being held in Singapore on November 19-20.
November 18, 2014
06:34 EDTLYGDraghi sees positive signs in euro zone, NY Times reports
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November 13, 2014
08:45 EDTLYGLloyds Banking seen cutting 1,250 insurance jobs, Guardian reports
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November 12, 2014
08:18 EDTLYGUBS to hold a conference
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November 10, 2014
16:07 EDTLYGUBS to hold a conference
UBS European Conference is being held in London, England on November 11-12.
06:46 EDTLYGRegulators set new capital buffer rule for banks, Reuters reports
Global banks should have buffers of bonds or equity worth 16%-20% of their risk-weighted assets, beginning in January 2019, The Financial Stability Board decided, according to Reuters. The board said the buffer would prevent the need for government bailouts, the news service explained. Publicly traded global banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) Wells Fargo (WFC), Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), RBS (RBS) and UBS (UBS). Reference Link

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