U.S. lawmakers seek fix to help investors file claims against brokers
A bipartisan group of U.S. House and Senate members is seeking to make it easier for investment fraud victims to seek compensation, after investors in Allen Stanford's Ponzi scheme were deemed...
View ArticleSEC sustains FINRA sanctions over alleged manipulation scheme
The Securities and Exchange Commission has sustained the Financial Industry Regulatory Authority in suspending former Deutsche Bank Securities broker Edward S. Brokaw for engaging in a manipulative...
View ArticleU.S. consumer bureau issues first fine of payday lender
Payday lender Cash America International will refund consumers $14 million and pay a $5 million fine to settle civil allegations that it improperly pursued some customers' debt and overcharged military...
View ArticleVolcker rule under fire, U.S. Fed says could delay compliance
U.S. regulators are considering whether to give banks more time to comply with the Volcker rule, which bans them from gambling with their own money, Federal Reserve Vice-Chair Janet Yellen said in a...
View ArticleQuote of the Day: Andrew Ceresney, Securities and Exchange Commission...
"Despite the hard work of the SEC and our sister agencies, far too many companies and individuals still believe that paying a bribe is the best way to win business. … So there is still work to be done...
View ArticleU.S. regulators say credit raters can manage some conflicts
Credit-rating agencies that also offer consulting and risk-management services are taking proper steps to mitigate potential conflicts of interest and should not face additional regulations, the...
View ArticleU.S. SEC charges ex-Marvell worker in Galleon insider-trade scheme
A former Marvell Technology Group Ltd employee will pay $60,000 to settle civil charges that he offered insider tips to a hedge fund manager with ties to Galleon Group, U.S. regulators said Thursday....
View ArticleAnti-laundering officers should be alert for luxury-car export schemes,...
Federal authorities across the United States have begun seeing a relatively new scheme that involves the "illegal" export of luxury vehicles to China and other countries and they want anti-money...
View ArticleBurdens of regulatory reform may prompt U.S. largest banks to reconsider...
Could the issue of “too big to fail” be something of the past – one that no longer requires government intervention? At a conference on Thursday sponsored by the Clearing House, an industry body,...
View ArticleBrazil’s corporate bribery law is a step forward but faces tough scrutiny –...
Brazil’s Clean Companies Act plugs a major hole in its corporate anti-bribery arsenal but how regulators apply the complex legislation will prove an important test of its effectiveness, a top global...
View ArticleQUOTE OF THE DAY: Gary Lynch, General Counsel of Bank of America Merrill Lynch
“The regulatory fervor is increasing, and I don’t see any reason that it’s going to abate.” -- Gary Lynch, General Counsel of Bank of America Merrill Lynch. For full story, please click here.
View ArticleFormer Credit Suisse trader Serageldin gets 30 months in jail
A former Credit Suisse Group AG trader was sentenced to 30 months in prison on Friday for his role in a scheme to artificially inflate subprime mortgage bond prices. Kareem Serageldin, the bank's...
View ArticleU.S. SEC to seek comment on "target date" fund reforms
U.S. securities regulators will seek public comment on a proposal requiring "target date" funds to give certain illustrations to help investors understand investment risks and how their portfolio...
View ArticleFed Governor Tarullo calls for margin requirements to tackle risks in shadow...
A senior Federal Reserve official has called for financial institutions that rely on short term funding to be required to hold more capital. Like minimum margin requirements for derivatives, Federal...
View ArticleNew U.S. guidance says bankers should review account history before making...
U.S. regulators will expect bankers to review their customers' recent account history before making deposit advances into the accounts, and will expect bank compliance staff to review deposit-advance...
View ArticleU.S. SEC committee votes in favor of fiduciary standard for brokers
A key advisory committee to the U.S. Securities and Exchange Commission unanimously approved a recommendation on Friday that the agency develop tough new ethical rules for securities brokers. The SEC's...
View ArticleNew SEC members differ on enforcement : restraint vs. crackdown
The two newest members of the U.S. Securities and Exchange Commission have offered opposing views about how their agency should exert its enforcement power, with one urging restraint and the other...
View ArticleLargest U.S. banks see themselves in "regulatory spiral" with no clear end
Although five years have passed since the height of the financial crisis, top lawyers at some of the largest U.S. banks see themselves pitted in an escalating, and at times adversarial, battle with...
View ArticleQUOTE OF THE DAY: Glenn Hubbard, former chairman White House Council of...
“I think they have been chasing after the dogs that do not bark, such as the proprietary desks of banks, rather than the ones that do, such as the government sponsored enterprises.” -- Glenn Hubbard,...
View ArticleCitigroup can't block Abu Dhabi arbitration over $7.5 billion stake
A U.S. judge has rejected Citigroup Inc's effort to block the Abu Dhabi Investment Authority from seeking a second arbitration over the sovereign wealth fund's $7.5 billion investment in late 2007 to...
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