John C. Bogle, the founder of Vanguard Group Inc. who popularized index-based investing, said proposed rules for money-market mutual funds don’t go far enough to protect investors and the financial system.
Chris Willford, former group finance director at nationalized lender Bradford & Bingley Plc, may be fined as much as 100,000 pounds ($157,000) for risk management failures after losing a court appeal today.
OptionsXpress Inc., a unit of U.S. brokerage Charles Schwab Corp., and its former chief financial officer helped to facilitate sham transactions that violated U.S. securities laws, an administrative court ruled.
Julius Baer Group Ltd., Switzerland’s third-largest wealth manager, informed some American clients that their accounts meet the criteria of a U.S. request for data amid a Justice Department offshore tax-evasion probe.
SNS Reaal NV investors wiped out by the Dutch lender’s nationalization said the Dutch central bank acted unlawfully when it demanded an immediate 1.8 billion-euro ($2.4 billion) capital increase in January.
Finland’s Finance Minister Jutta Urpilainen said she will continue in her job after switching three ministerial posts in her Social Democrat party’s first reshuffle since joining the government in 2011.
Centamin Plc, a producer of gold in Egypt, fell the most in almost than five months in London as it said a report by the State Commissioner’s Office was “not positive” as it appeals the annulment of its mine lease.
An Egyptian court upheld a ruling suspending a parliamentary election President Mohamed Mursi sought to begin tomorrow, increasing uncertainty in the country ahead of a Cabinet shuffle aimed at easing the political deadlock.