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On Tuesday, French officials conducted raids on five major banks located in and around Paris, including Societe Generale, BNP Paribas, HSBC, Natixis, and BNP’s Exane Bank, over alleged charges of money laundering and fiscal fraud. According to a spokesperson for France’s Financial Prosecutor’s Office (PNF), the preliminary investigation into four French banks and one international … Read more
Goldman Sachs has revealed that it will be offering bitcoin investments to its wealth management clients. The investment bank reportedly plans to offer a “full spectrum” of bitcoin investments, “whether that’s through the physical bitcoin, derivatives or traditional investment vehicles.” Goldman Sachs to Begin Offering Bitcoin Investments to Wealthy Clients Goldman Sachs is the second … Read more
JMP Securities has predicted that “$1.5 trillion of incremental capital” could flow into bitcoin, an amount greater than the cryptocurrency’s current market cap. The firm sees more wealth management companies following Morgan Stanley’s example to offer bitcoin to their clients. “Around $30 trillion of assets in the U.S. retail wealth management industry currently do not … Read more
A French court has reportedly rejected a request by the largest Swiss bank to drop money laundering charge against it. UBS Group and a number of its executives are accused of tax fraud and money laundering. If found guilty, the bank could be fined up to 5 billion euros or $5.8 billion. Its executives could … Read more
