Law & Regulation

Deutsche Bank has agreed to pay out a record $2.5 billion fine to settle U.K. and U.S. government investigations into allegations of fixing global interest rates, just months after six other banks paid out $4.3 billion on similar charges. Activists say that the banks should have faced criminal charges. Read More

Ernst & Young, one of the Big Four auditing firms, has agreed to pay a $10 million to New York state to settle a lawsuit for overlooking accounting gimmicks by Lehman Brothers, the defunct Wall Street bank. The scheme allowed Lehman to hide billions of dollars in bad deals. Read More

A cache of secret documents has thrust HSBC, the world's second largest bank, into the limelight for helping international clients dodge taxes. A series of articles published by the International Consortium of Investigative Journalists is finally pushing reluctant governments to act almost eight years after the original leaks. Read More

A whistleblower has stepped forward to provide evidence that executives at JP Morgan, a major Wall Street bank, were aware that the bank was selling bad mortgages - but she says that the U.S. government has failed to do anything with the evidence that she has provided to them. Read More

Uruguay has presented a 500 page document to defend itself against an international lawsuit challenging the country's tough tobacco packaging regulations. The claim was brought by Philip Morris, the global tobacco giant, at the World Bank's International Centre for Settlement of Investment Disputes (ICSID) in Washington DC. Read More

Two senior Tanzanian officials were arrested after they failed to produce details of 26 multi-billion dollar agreements signed with Statoil of Norway; the BG Group and Ophir from the UK; and ExxonMobil from the U.S. Opposition politicians want assurances that the money will be spent in a transparent manner. Read More

The newly elected president of the European Commission and his cabinet - who together form the central executive body for the 28 member states of the European Union - have deep ties with powerful corporate interests that make them poor choices to support citizen rights, say critics. Read More

One thousand law enforcement officers staged an early morning raid on dozens of businesses in Los Angeles fashion district to seize $65 million allegedly derived from drug trafficking. QT Fashion, a company that imports wholesale maternity wear from China to Mexico, provided a key to the money laundering scheme. Read More

Carmen Segarra, a former senior examiner with the Federal Reserve Bank of New York, has revealed how government regulators failed to adequately police Goldman Sachs, the Wall Street investment bank. (The Federal Reserve is the central banking system of the U.S. chartered by Congress to supervise private banks) Read More

The U.S. Congress saw no progresses toward corporate accountability and reining in corporate influence over public institutions in 2013, according to the newly released Corporate Accountability Coalition (CAC) Congressional Report Card. Read More