US buy-side impacted by MiFID II almost doubles from last year
TABB Group study finds 66% of buy-side firms in the US are to be impacted by European regulation, MiFID II.
Americas
Citi manipulated Libor despite being investigated, according to CFTC
Citi ordered to pay $175 million to settle claims of Libor rigging.
S&P 500 will end year flat or in positive territory, according to US financial professionals
Recent survey finds financial professionals have positive outlook on US markets this year.
ITG sells research business for $12m; Will cut high-touch roles
ITG agrees sale of research business that will see loss of high-touch jobs.
Wall Street layoffs surged by 275% in April
Job cuts in financial services surge as “Wall Street executives are trying to shrink staffing levels as profits remain under pressure,” says Integrity Research.
US firms agree SEC form for ATS transparency lacks clarity
Consistency, lack of clear definitions, and ease of use listed by firms as major concerns ahead of SEC’s Form ATS-N.
REVEALED: Ten traders leaving Goldman Sachs
Weeks after announcing cuts to fixed income jobs, traders in multiple functions have left the business.
Rabobank traders jailed for role in Libor fixing
Rabobank traders receive prison sentences in the US, though they fall far short of what prosecutors had hoped for.
KCG sells NYSE market maker to Citadel
Deal sees second NYSE market maker sold to HFT firm in two weeks.
Morgan Stanley pays $63m to settle US lawsuits
Morgan Stanley has paid out a $62.95 million settlement relating to the sale of residential mortgage backed securities to three banks which failed during the credit crisis.