Serge Steiner

UBS Quits Euribor Amid Bank Exodus From Rate-Setting Panels

UBS AG, Switzerland’s biggest bank, plans to pull out of a panel setting Euribor rates, following an exodus of lenders including Citigroup Inc. and Rabobank Groep in the wake of scandals involving interest-rate benchmarks.

UBS Chief Gruebel Dismisses Calls to Quit After Unauthorized Trading Loss

UBS AG Chief Executive Officer Oswald Gruebel said he doesn’t plan to resign after Switzerland’s biggest bank last week reported a $2 billion loss from unauthorized trading.

Hank’s TARP, Madoff Feeder-Fund Fees: Compliance

Henry Paulson may be the most powerful manager of money in the world and he still couldn’t do for taxpayers with the $700 billion bailout of American banks what Warren Buffett did for his shareholders in investing in Goldman Sachs Group Inc., Mark Pittman of Bloomberg News reported today.

UBS Says Trading Loss Was $2.3 Billion

UBS AG, Switzerland’s biggest bank, announced that its loss from unauthorized trading amounted to $2.3 billion, more than initially reported, while Chief Executive Officer Oswald Gruebel said he will stay on.

ABS Conflicts, Investment Advisers, Swiss Risk: Compliance

The U.S. Securities and Exchange Commission proposed barring bets against asset-backed securities by underwriters and securitization participants to root out conflicts of interest that might harm investors.

U.S. Millionaires Told Go Away as Tax Evasion Rule Looms

Go away, American millionaires.

UBS Cutting Investment Bank Seen Freeing Investors Cash

UBS AG’s decision to cut as many as 10,000 jobs and retreat from capital-intensive trading businesses will help position Switzerland’s largest bank to return more funds to shareholders.

Gasoline Climbs, Stocks Fall as Sandy Shuts U.S. Markets

Gasoline rose for a third day and oil fell to a three-month low as Hurricane Sandy threatened U.S. East Coast refineries and closed equity trading. Treasuries and the dollar strengthened amid increased demand for refuge.

Senate Finance Debate, Singapore Rules, Deutsche Bank Searched: Compliance

Senate Republicans abandoned their efforts to block debate over legislation overhauling U.S. financial rules, vowing instead to fight for changes to the bill on issues ranging from consumer protection to derivatives, according to reporting by Bloomberg’s Alison Vekshin and James Rowley.

Obama Urges Bank Reform, Swaps Opposition, Swiss Bank Splits: Compliance

In a speech aimed equally at Wall Street and Main Street, President Barack Obama urged the financial industry to drop the “furious effort” to fight his regulation plan, saying a failure to impose tougher rules on the market will put the U.S. economic system at risk.

"UBS was informed that the probe was closed and all allegations dropped."

- Serge Steiner on Feb 08, 2012

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Boeing CEO Sees 5-Year Edge On Airbus in Twin-Aisle Jets

Stocks Slide With Treasuries, Gold as Dollar Jumps on Fed

Oil Pipelines to Drive Canada Economy Like 1880s Railroad

U.S. Stocks Fall on Concern Fed Will Scale Back Stimulus

WTI Falls as Gasoline Supplies Rise 3 Million Barrels