Lead Story Picture
Danske Bank said it will cooperate with investigators looking into whether the Danish lender overcharged investors in a wealth-management product. (iStock)

Danske Bank Faces Prosecution For Overcharging Investors

Danske Bank said Thursday it has been preliminarily charged by Danish prosecutors for overcharging investors in a low-performing wealth-management product by tens of millions of dollars.

Top Stories

No Brexit? Then Name A Commissioner, EU Says

The European Commission took steps Thursday toward taking the U.K. to court over its refusal to nominate a new commissioner to serve in Brussels, saying the country still has to live up to its obligations after its exit from the European Union was delayed again in October. 

Fraudsters Posed As US Fed Officials In €100M Con, Jury Told

A Dutch-Swiss shipping company was conned out of a €100 million ($110 million) investment by a gang of fraudsters posing as U.S. government officials, the company’s top in-house lawyer told a London jury on Thursday.

Danish Watchdog Tells Swedish Bank To Boost AML Efforts

Denmark’s financial regulator said Thursday it has ordered the Danish arm of Swedish bank Handelsbanken to strengthen its anti-money laundering efforts after an inspection found an “inherent risk” that the subsidiary would be used to move dirty money.

Singapore Fines UBS $8.2M For Overcharging Clients

Singapore’s financial watchdog hit UBS AG with a fine of 11.2 million Singapore dollars ($8.2 million) on Thursday, the second regulatory penalty the Swiss giant has faced this week for overcharging clients during trades.

Fear Still Holds Back Whistleblowers, Banking Chief Warns

A huge number of people working at lenders in Britain refuse to blow the whistle on misconduct because they fear repercussions, the head of a banking standards body warned Thursday.

No Harm To Halliburton From Arbitrator's Past, Chubb Says

Chubb’s choice of arbitrator in a Deepwater Horizon dispute didn't put Halliburton at a disadvantage, the insurer told the U.K.’s top court on Wednesday in a closely watched case that could clarify the test for apparent bias in arbitration.

Exec In LC&F Scandal Looks To Block Access To Private Docs

An executive at one of the main companies that borrowed money from London Capital & Finance, the failed minibond provider facing a criminal probe, took the investment firm’s administrators to court Wednesday in an effort to block their access to confidential documents.

PRA Warns Insurers To Mull Risks To UK Pensioners In France

The Bank of England’s regulatory arm has warned insurers to seek legal advice after France rejected a proposal that would see cross-border insurance claims continue to be paid if the U.K. leaves the European Union without a deal or transition period.

Financial Services


Insurance


Corporate Crime & Compliance