Reuters) – Citigroup’s (C.N) Mexican subsidiary Banamex fired two bond traders after uncovering rogue trading last year, two sources close to the matter said, raising fresh questions over what controls the troubled unit had in place to police employees

http://www.reuters.com/article/2014/04/01/us-citigroup-mexico-trading-idUSBREA300BJ20140401

JPMorgan Chase & Co. (JPM), the biggest U.S. bank by assets, said it will merge the operation that produced a $6.2 billion trading loss in 2012 with another business unit. . .

http://www.bloomberg.com/news/2014-04-03/jpmorgan-folds-london-whale-office-into-another-unit.html

The Justice Department is investigating high-speed trading for possible insider trading, Attorney General Eric Holder tells lawmakers. . .
http://hereisthecity.com/en-gb/2014/04/05/justice-department-probing-high-frequency-trading/

In the wake of the global financial crisis, the G20 has become the most important forum of global governance and cooperation, largely replacing the once powerful G7. In this paper we run an event study to test whether G20 meetings at ministerial and Leaders level have had an impact on global financial markets. We focus on the period from 2007 to 2013, looking at equity returns, bond yields and measures of market risk such as implied volatility, skewness and kurtosis. Our main finding is that G20 summits have not had a strong, consistent and durable effect on any of the markets that we consider, suggesting that the information and decision content of G20 summits is of limited relevance for market participants. . .

http://www.ecb.europa.eu/pub/pdf/scpwps/ecbwp1668.pdf

The Basel Committee on Banking Supervision has today published supervisory guidance on External audits of banks. The document enhances and supersedes the previous Committee guidance published in 2002 on  The relationship between banking supervisors and banks’ external auditors and in 2008 on  External audit quality and banking supervision.

http://www.bis.org/press/p140331a.htm

Barclays has agreed to sell its retail banking arm in the United Arab Emirates  to Abu Dhabi Islamic Bank (ADIB). . .

http://www.bbc.co.uk/news/business-26915911#

Asia-focused bank Standard Chartered Plc paid 118 of its bankers at least $1.4 million (£842,155) last year, topped by a $9.5 million payout to Mike Rees, head of its wholesale or investment banking division. . .

http://uk.reuters.com/article/2014/03/28/uk-banking-stanchart-idUKBREA2R0LQ20140328

Former Bank of America Corp. Chairman Kenneth Lewis agreed to a three-year ban on serving as a public company’s officer or director and to pay $10 million to settle claims by New York’s attorney general that he misled investors about the bank’s 2009 purchase of Merrill Lynch & Co. . .

http://www.bloomberg.com/news/2014-03-26/bofa-lewis-reach-25-million-pact-with-n-y-over-merrill.html

Credit Suisse (CSGN.VX) could cut up to 500 jobs at its private bank as part of a cost-saving drive, a Swiss newspaper reported on Sunday. . .

http://uk.reuters.com/article/2014/03/23/uk-creditsuisse-employment-idUKBREA2M08M20140323

European Central Bank (ECB) President Mario Draghi hailed the “great progress” made “for a better banking union” on Thursday, after the European Union agreed to complete the region’s banking union. . .

http://www.cnbc.com/id/101510009