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US and UK regulators criticise ‘serious’ and ‘significant’ failings behind $5.5bn trading loss at defunct Swiss bank
Findings over failings at Swiss bank related to dealings with family office set to be published soon by global regulators
Instagram founders launch new app to rival Twitter and tackle misinformation
Lenders that lost billions will get back as little as 5 cents on the dollar from restructuring
Plus, Bill Hwang is sued by his former analyst and Putin’s inner circle ponders a sanction-proof mega-deal
Ex-managing director at Bill Hwang’s failed investment firm claims shares were transferred to foundation
Implosion of Bill Hwang’s family office a year ago inflicted billions in losses for investment banks
Report admits ‘fundamental failure’ of bank’s management and a ‘lackadaisical attitude’ to risk
Family office, which has since collapsed, believed information was shared on behalf of German lender’s chair
Experts say US government may struggle to show Archegos Capital chief intended to artificially boost share prices
And China’s ‘impossible trilemma’
Federal indictment against Archegos founder shines light on risk controls at sophisticated trading desks
Plus, Mukesh Ambani plans a deal with Apollo and Credit Suisse purges its top ranks
Prosecutors accuse hedge fund manager and former lieutenant of scheme that was ‘historic in scope’
The SEC complaint against Archegos in full.
The debacle resulting in Bill Hwang’s arrest has inspired calls for better disclosure of swaps holdings
SEC expected to face legal action over rules that would toughen disclosure requirements for swaps
Russia to switch gas invoicing to roubles for European buyers
Shareholders should wonder how bank could allow such an embarrassing situation to arise
Germany’s biggest bank was also among the lenders to the family office whose collapse left rivals with $10bn in losses
Six banks lost about $10bn when they liquidated the family office’s positions in US-listed companies
From the GameStop saga to the Archegos debacle — these are the events that shaped the year
US regulator weighs additional disclosures for security-based swaps as well as new rules for money market funds
UK banks told to scrutinise prime brokerage risks as part of co-ordinated international regulatory effort
Credit Suisse’s decision to exit the business highlights how the industry that serves hedge funds is changing
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