JPMorgan, government set terms for $4 billion piece of $13 billion deal
JPMorgan Chase & Co and U.S. government officials have agreed on terms of a $4 billion consumer relief package that is to be part of a $13 billion deal to settle the bank's liability to government...
View ArticleImpact analysis: Details of re-proposed CFTC commodity position-limits rules
The CFTC re-proposed rules on position limits for speculative commodities after the original position limits rules were struck down by a federal court last year because they did not comply with...
View ArticleNew CFTC chairman urged to "take a deep breath" and pause on swaps reform –...
The man picked to lead the Commodities Futures Trading Commission, Tim Massad, should take a moment to assess the impact of the recent flurry of new regulations aimed at the global swaps market before...
View ArticleMore U.S. arrests in $45 million global prepaid debit card hacking cases
Five New York men were arrested Monday in connection with an alleged cyberheist scheme that targeted two Middle Eastern banks and caused $45 million in losses to the global financial system in just...
View ArticleNew Libor administrator signals caution over compilation changes
Replacing the quote-based Libor with an index drawing on actual market trades won't happen any time soon, the benchmark's new administrator said on Tuesday. The London Interbank Offered Rate is...
View ArticleFATF sets out criteria for testing worldwide AML effectiveness
The international Financial Action Task Force has published the procedures it will follow as part of its shift towards determining the effectiveness of a country's anti-money laundering systems, as...
View ArticleBasel III and OTC reforms engineered to increase costs, says central banker
Regulators worldwide have intentionally pushed through policy reforms to increase the price of financial services, most notably the cost of financial intermediation, a senior central banker has said....
View ArticleQuote of the Day: U.S. Attorney Preet Bharara
"As an SEC examiner, Steven Gilchrist had a duty to avoid conflicts of interest that might compromise or even appear to compromise his integrity. Instead, as alleged, he violated the SEC’s internal...
View ArticleTrader gets 30 months in prison for $1 billion Apple stock scheme
A former trader was sentenced to 2 1/2 years in prison on Tuesday for an unauthorized purchase of about $1 billion in Apple Inc stock that eventually led to the demise of financial services firm...
View ArticleSEC compliance examiner charged over personal trading, prosecutors say
A veteran Securities and Exchange Commission compliance examiner in the New York regional office was charged with making false statements related to prohibited financial holdings, Manhattan federal...
View ArticleU.S. Treasury to talk with banks and regulators about medical marijuana industry
The U.S. Treasury Department plans to discuss with banks and other regulators how the federal enforcement stance regarding state-authorized marijuana business could affect the banking industry, a...
View ArticleBank groups seek more delay in U.S. FATCA offshore anti-tax evasion law
Four bank lobbying groups have asked the Obama administration for a six-month delay in the start of an anti-tax evasion law set to begin on July 1, 2014, saying that banks and other financial...
View ArticleSEC sanctions hedge fund adviser over valuation, disclosure and cross trade...
The Securities and Exchange Commission on Tuesday sanctioned a hedge fund investment adviser for failing to adopt and implement compliance policies over valuing fund assets, disclosing its valuation...
View ArticleJPMorgan agrees $13 billion settlement with U.S. over bad mortgages
In late September, JPMorgan Chief Executive Jamie Dimon walked into the office of U.S. Attorney General Eric Holder. "We're willing to take our lumps," he said, according to a person briefed on the...
View ArticleSEC looks to loosen rules on foreign broker-dealers in U.S., official says
U.S. securities regulators are looking to loosen rules for foreign-broker dealers acting in the U.S. on a cross-border basis. The change would come in the wake of new policy being adopted to implement...
View ArticleU.S. Treasury nominee says bank capital regulations won't work for insurance...
President Barack Obama's nominee to serve as deputy U.S. Treasury Secretary told lawmakers on Wednesday she believes that large systemically important insurance companies should not face the same...
View ArticleQuote of the Day: CFTC member Bart Chilton
"Given what I've read, Volcker isn't worth doing if the language remains as is. I'd oppose it if there were a vote now." Bart Chilton, a member of the Commodity Futures Trading Commission (CFTC). For...
View ArticleCanadian mortgage brokers warned about syndicated mortgages
The Mutual Fund Dealers Association of Canada (MFDA) has warned its members and approved persons that dealers should not sell syndicated mortgages outside of their dealer firms. In a recent bulletin...
View ArticleOntario Securities Commission publishes harmonised OTC derivative rules
The Ontario Securities Commission (OSC) has published its first set of harmonized derivatives rules, which it says are intended to bring greater transparency to the over-the-counter (OTC) derivatives...
View ArticleCFTC launches new weekly swaps report
The Commodity Futures Trading Commission announced the launch of its weekly swaps report, a report designed to shine light on transactions in the $400 trillion swaps market. The report is the latest...
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