Bloomberg Wall Street banks grappling with the implosion of Bill Hwang’s investment firm spent time briefing US regulators as Washington starts to dig into one of the biggest fund blowups in years. The Securities and Exchange Commission (SEC) summoned the banks for hasty meetings on what triggered the forced sale of more than $20 billion of stocks linked to Hwang’s ...

Bloomberg Mitsubishi UFJ Financial Group Inc. joined a growing list of global financial firms as it warned of a potential loss tied to a US client. MUFG’s securities arm is evaluating the extent of the loss and currently estimates it at about $300 million, it said in a statement on Tuesday, without naming the client. Japan’s biggest bank said an ...

Bloomberg Stocks valued at $2.64 billion changed hands in a flurry of block trades as tumult from the wind-down of Bill Hwang’s Archegos Capital Management extended into a new week. Five block trades valued at a combined $2.14 billion were executed by Wells Fargo & Co., according to a person familiar with the matter. The bank solicited interest from investors ...