Bitcoin Fund Up 4,847% This Year: Report
The Bitcoin Fund, which launched in late 2012, has returned 4,847% this year through Nov. 18, according to Exante, a Malta-based brokerage.
The Odd, Mixed Messages From FINRA on Risk Tolerance and Suitability
FINRA’s new, and unusual, definition of risk tolerance and the inconsistency between that definition and the views expressed on the SRO’s website are not helpful to advisors and investors.
UBS to Pay $1 Billion for Libor Manipulation
UBS will pay $1 billion to settle allegations that it manipulated Libor, according to the Financial Times and other publications. The news about UBS’ settlement will likely be made public on Monday.
U.K. Investigating Natural Gas Price Fixing Allegations
Energy Secretary Ed Davey said in the report that the government is “extremely concerned” about the possibility that manipulations of the wholesale natural gas market may have been perpetrated by some of the largest power companies in the country.
Barclays Eyed in Two New Probes
Fresh from an FSA investigation into LIBOR rigging, Barclays is now the target of two more inquiries.
RBS Wins: Singapore LIBOR Papers to Be Sealed
The decision came in a closed hearing after the bank said that public availability of the documents could have “extensive potential prejudice” on confidential regulatory investigations.
Tough Talk in U.K. on Banks, Starbucks Taxes
The U.K. was sounding a note of authority with assertions that banks should be compelled to hold a certain amount of capital and threats of an investigation into Starbucks’ tax affairs.
RBS Leaves U.K. Asset Protection Plan
Royal Bank of Scotland Group has paid 2.5 billion pounds ($4 billion) to the British government to insure its riskiest assets and agreed to exit the Asset Protection Scheme.
Few Apply for Top BoE Spot
The list of candidates to succeed Mervyn King as governor of the Bank of England is smaller than expected, with many potential candidates disqualified because of recent investigations into bank misdeeds, and two of the top contenders off the list by choice.
British Bankers Group Out, Regulator In on LIBOR Supervision
In addition, more than 100 LIBOR rates bound to maturities and currencies that lack sufficient trading data to allow for proper determination will be done away with.