Santander’s chief executive Alfredo Saenz, 70, has stepped down after a long legal row over whether he should remain in his post. . .

http://www.bbc.co.uk/news/business-22339254#

High-frequency trading (HFT) in currencies could face “speed limits” in an attempt to create a fairer system. . .

http://www.bbc.co.uk/news/business-22342770#

The paper examines the basic rationale and features of the proposals adopted to separate specific investment and commercial banking activities (Volcker rule, Vickers and Liikanen proposals). In particular, it focuses on the likely implications of such initiatives for: (i) financial stability and systemic risk; (ii) banks’ business models; and (iii) the international activities of global banks. . .

http://www.bis.org/publ/work412.htm

Nordea Bank AB (NDA), the Nordic region’s largest lender, was fined 30 million kronor ($4.7 million) by Sweden’s financial watchdog for failing to comply with requirements designed to prevent money laundering. . .

http://www.bloomberg.com/news/2013-04-16/nordea-bank-fined-for-inadequate-checks-to-stop-money-laundering.html

Goldman Sachs directors are getting a pay raise. . .

http://hereisthecity.com/2013/04/15/goldman-board-members-get-a-pay-rise-too/

http://hereisthecity.com/2013/04/15/jpmorgan-whale-debacle-likely-to-be-referred-to-sec-justice-depa/

Citigroup’s European chief, Jim Cowles, said so-called U.S. universal banks like his own are gaining market share in investment banking because they can absorb the rising cost of regulation better than European peers. . .

http://hereisthecity.com/2013/04/15/citi-boss-says-firm-better-placed-in-investment-banking/

http://www.bis.org/publ/bcbs249.htm

Societe Generale may cut between 600 and 700 jobs as part of a broader cost-cutting drive in the face of stagnant growth in its home market, three union sources has told Reuters. . .

http://hereisthecity.com/2013/04/06/top-firm-said-mulling-cutting-up-to-700-jobs/