Barclays Plc, the U.K.’s second- largest lender by assets, paid investment bankers bonuses “incapable of justification” as employees focused on revenue at the expense of clients, according to an internal report.
Royal Bank of Scotland Group Plc, Deutsche Bank AG and Wells Fargo & Co. must face claims from a pension fund over $1.3 billion in mortgage bonds and potentially billions more, a federal appeals court ruled.
John Kinnucan, the expert-networker who refused to cooperate in a U.S. probe of insider trading before admitting to passing tips to hedge-fund clients, was sentenced to four years and three months in prison.
John Kinnucan, the expert-networker sentenced to four years and three months in prison for his role in passing inside tips to hedge-fund clients, refuses to settle an insider-trading lawsuit, the U.S. Securities and Exchange Commission said.
Scott Allen, a former Mercer LLC investment adviser, pleaded guilty to charges that he supplied nonpublic information to a friend in a $2.6 million insider- trading scheme involving drug-company acquisitions.