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TRENDING TAGS
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- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
- Catherine Keating Appointed CEO of BNY Mellon Wealth Management
- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
- Massachusetts Jury Convicts CA Attorney of Securities Fraud
- Deutsche Bank Says 3 Senior Investment Bankers to Leave Firm
- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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HSBC, UBS Latest Banks to Settle U.S. Rate-Rigging Lawsuits
HSBC and UBS will each pay $14 million to settle private U.S. litigation accusing them of rigging the ISDAfix interest rate benchmark - bringing to 10 the number of banks that have settled the lawsuit filed by Alaska Electrical Pension Fund and several other pension funds and municipalities. Four banks have yet to settle. Over $408 million has been raised by the 10 settlements.
Companies and investors use ISDAfix to price swaps transactions, commercial real estate mortgages and structured debt securities.
BANKS THAT SETTLED PREVIOUSLY.
- Goldman Sachs ($56.5 million)
- JPMorgan Chase ($52 million)
- Bank of America, Credit Suisse, Deutsche Bank, Royal Bank of Scotland ($50 million each)
- Citigroup ($42 million)
- Barclays ($30 million)
BANKS THAT HAVE NOT SETTLED.
- BNP Paribas
- Mogran Stanley
- Nomura
- Wells Fargo
Related Stories: Lawsuits/Arbitrations
-
Unpaid Arbitration Awards: Time for a Wall Street Anti-Fraud Fund
April 25, 2019 -
Ex-UBS Compliance Officer on Trial for Insider Trading
November 6, 2018 -
JPMorgan Settles Lawsuit with Black Advisers
September 6, 2018