HSBC has set aside $1.1 billion to prepare for potential legal costs linked to the Bernard Madoff fraud case. The move follows a court ruling in Luxembourg and has sparked new debate over how banks handle past scandals and protect investors. As regulators tighten their grip, HSBC’s billion-dollar safeguard may signal a tougher era of accountability across global finance.

The UK’s Competition and Markets Authority (CMA) is investigating the proposed $3.7 billion merger between Getty Images and Shutterstock, two of the world’s largest stock photo agencies. Regulators fear the deal could limit competition, reduce consumer choice, and slow innovation in the creative sector. As the CMA examines whether the merger would give the new company too much control over the digital media market, the case highlights growing scrutiny of big tech and creative industries and signals that the era of lenient oversight for large media consolidations may be ending.