National Australia Bank Ltd., whose shareholders are seeking A$450 million ($472 million) of damages over its exposure to U.S. subprime debt, lost a bid to have the identities of the group members disclosed.
The Securities Investor Protection Corp., which initiated the liquidation of Bernard Madoff ’s money management firm, told a judge it has a “right to be heard” in trustee Irving Picard ’s $6.4 billion suit against JPMorgan Chase & Co.
Credit Suisse Group AG plans to reorganize its investment bank next year to combine existing corporate finance teams into three broader groups, the Wall Street Journal reported, citing unidentified people familiar with the changes.
MF Global Holdings Ltd., under investigation by U.S. regulators after filing for bankruptcy protection, violated requirements that it keep clients’ collateral separate from its own accounts, the head of the world’s largest futures exchange said.
A group of Canadian business leaders plan to lobby their foreign counterparts to liberalize trade and abandon plans for a global bank tax during next month’s meetings of international leaders, the Globe and Mail reported.
Canada’s banking regulator is preparing to end a two-year-old constraint on the country’s banks that encouraged them to hold excess capital instead of using it for acquisitions or dividend increases, the Globe and Mail reported.