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FINANCIAL ARRESTS WORLDWIDE

Thursday, 15 January 2009

HSBC may be liable for around $3.2 billion of losses from the Bernard Madoff scandal

European banking giants UBS and HSBC may be liable for around $3.2 billion of losses from the Bernard Madoff scandal due to their role as custodians of funds in Ireland and Luxembourg, according to a published report Thursday.
Custodians are responsible for the oversight of funds and the transfer of cash to and from investors

Posted by Unknown at 21:01
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Disclaimer: The statements and articles listed here, and any opinions, are those of the writers alone, and neither are opinions of nor reflect the views of this Blog. Aggregated content created by others is the sole responsibility of the writers and its accuracy and completeness are not endorsed or guaranteed. This goes for all those links, too: Blogs have no control over the information you access via such links, does not endorse that information, cannot guarantee the accuracy of the information provided or any analysis based thereon, and shall not be responsible for it or for the consequences of your use of that information.
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