More than 45 financial institutions are either establishing German operations or increasing their presence in Frankfurt post-Brexit, according to German financial markets watchdog BaFin. Germany is processing more than 25 banking licenses, says BaFin President Felix Hufeld. Reuters (15 Jan.)
Indra Nooyi, a former chief executive of PepsiCo, is a leading candidate to be chosen as World Bank president by the Trump administration, according to people with knowledge of the matter. Others under consideration for the position include Overseas Private Investment CEO Ray Washburne and Treasury official David Malpass, a senior administration official said. CNN (15 Jan.)
US prosecutors are pursuing charges against seven people accused of stealing nonpublic information in 2016 after hacking into the Securities and Exchange Commission's EDGAR database for corporate filings. Prosecutors say the stolen data were used to generate $4.1 million via trades from May until at least October of that year. CNBC (15 Jan.)
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