European rules to cap bankers' bonuses at twice fixed pay are "a retrograde step" that could add to difficulty in recruiting staff to the industry, the head of Europe's biggest bank HSBC said on Tuesday.
JPMorgan (JPM.N), UBS (UBSN.VX) and Credit Suisse (CSGN.VX) were fined a total of 94 million euros ($120 million) by the European Commission for taking part in cartels in the financial sector.
Following the massive cyber attack on the biggest U.S. bank JPMorgan Chase & Co (JPM.N) disclosed in August, and other financial institutions, government authorities in United States are pushing financial institutions and brokerage houses to close glaring gaps in cybersecurity.
Texas tycoon Sam Wyly has filed for bankruptcy, saying he does not have the assets to pay the nearly $300 million that U.S. regulators are demanding for his role in a fraudulent offshore scheme.
