JPMorgan and Other Banks Struck by Hackers

by The Compliance Exchange on August 28, 2014

A number of United States banks, including JPMorgan Chase and at least four others, were struck by hackers in a series of coordinated attacks this month, according to four people briefed on a continuing investigation into the crimes.

The hackers infiltrated the networks of the banks, siphoning off gigabytes of data, including checking and savings account information, in what security experts described as a sophisticated cyberattack.

The motivation and origin of the attacks are not yet … Read More »

Julius Baer Surges on Report of Takeover by Credit Suisse

by The Compliance Exchange on August 29, 2014

Julius Baer, Switzerland’s third-largest wealth manager, jumped to the highest in almost four months following a report it may be acquired by Credit Suisse.

Bloomberg reports that Inside Paradeplatz, a Swiss finance blog, said today Credit Suisse might be considering a takeover of Julius Baer, without … Read More »

RBS appoints headhunters to find new chairman

by The Compliance Exchange on August 29, 2014

Royal Bank of Scotland has hired headhunters to take on one of the toughest boardroom searches in Britain – recruiting the next chairman of the taxpayer-backed lender.

Sky News reports that directors of RBS have appointed Egon Zehnder International to assist with identifying a successor to Sir Philip Hampton, who will step down … Read More »

SEC acts to restore compliance at ratings agencies

by The Compliance Exchange on August 28, 2014

The Big Three credit rating agencies — Standard & Poor’s, Moody’s, and Fitch Group — control about 95% of the market. They played a pivotal role in causing the 2008 financial meltdown. Rules adopted by the SEC Wednesday are intended to bring integrity back to the ratings process.

There’s a … Read More »

Insider trading suspect bolts—barefoot—from cameras

by The Compliance Exchange on August 28, 2014

That’s one way to leave court.

New York City investor relations executive accused of insider trading took off running when he spotted a CNBC camera and two still photographers outside federal court in Manhattan on Tuesday. Wearing a sleeveless shirt, 51-year-old Michael Lucarelli fled eastward on Worth Street upon seeing the cameras—continuing to … Read More »

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