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$100 Million Civil Penalty on Western Asset Management
Wall Streetโs securities watchdog is all set to be paid byย Franklin Templetonโs Western Asset Management aย $100 million civil penalty to settle an inquiry into one of its previous star bond investors, Ken Leech.
Apparently, besides the $100 million civil penalty, the US prosecutors had already charged Leech in November 2024 with criminal fraud, saying thatย he ran a $600 mn cherry-pickingย scheme that wrongly allocated trades to specific Western Asset Management portfolios. His trial is due to start on June 15. The fixed-income manager, which had assets under management of about $229 billion as of March 2026, had notย been able to take...
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Banking
Operational Resilience Strengthening Financial Stability
Strengthening financial stability requires a robust approach to operational resilience, ensuring that banking systems can withstand, adapt to, and recover from severe disruptions through enhanced risk management and continuity planning.
Insurance
Asset Management
$100 Million Civil Penalty on Western Asset Management
Wall Streetโs securities watchdog is all set to be paid byย Franklin Templetonโs Western Asset Management aย $100 million civil penalty...
Cards & Payments
Mastercard-botim Money Partnership Expands Global Transfers
Mastercard and botim Money have announced a partnership to increase access to quick and secure cross-border money transfers. The...
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DNB Upgrades Domestic Payments in Partnership with Tietoevry Banking
Key takeaways:ย
DNB is replacing its long-used RBS infrastructure with Tietoevry Bankingโs PIN platform to streamline operations and modernise its payments backbone.
The migration...
DBS and Ant International Expand Collab in Fintech, Payments
DBS and Ant International have moved to expand their longstanding strategic relationship, signing a new agreement to pursue a broader range of joint initiatives...
U.S. Bank Split Card Launched to Enable Automatic Payments
U.S. Bank has unveiled the U.S. Bank Splitโข World Mastercard, a new credit card designed to simplify how consumers manage purchases through automatic no-fee,...
Nexi, Zucchetti Expand Partnership for Integrated Payments
Nexi Group, the European PayTech, has deepened its partnership with Zucchetti, one of Europeโs top software providers, to widen access to integrated payment solutions...
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