U.S. regulator fines, partially bans poker player from trading
A small hedge fund manager turned professional card player who came to fame for a mammoth gold trade two years ago, was fined and banned from some trading for attempting to manipulate oil markets in...
View ArticleCFTC sanctions commodity fund and manager over 'banging the close'
The Commodity Futures Trading Commission sanctioned a commodity pool operator, SHK Management LLC, and Daniel Shak, its former principal, on Monday over attempted manipulation of crude oil futures...
View ArticleRegulators' emphasis on resolution plans, "too-big-to-fail," may be misplaced
Focusing on too-big-to-fail policies and hard-to-implement resolution plans may lead regulators to miss the next big financial failure, which could come in the areas of shadow banking and short-term...
View ArticleBoards of large banks now face a new problem: What's gone wrong with our...
Whether the recent Libor scandal or unfolding allegations of collusion in the global foreign exchange markets, the question of a breakdown in culture is making its way towards the top of the agenda for...
View ArticleMLROs should maintain 'status quo' on Iranian payments, despite deal, say...
Money laundering reporting officers (MLROs) would be wise to maintain the status quo on Iranian transactions despite the proposed partial lifting of some sanctions against the country following...
View ArticleU.S. expands China hiring probe to Morgan Stanley
The U.S. Justice Department is probing Morgan Stanley for its hiring practices in China, according to a person familiar with the matter. The move comes as U.S. authorities expand their investigation...
View ArticleU.S. watchdog gives foreign banks more time on swap rules
The U.S. swaps regulator issued a temporary reprieve from its rules for foreign banks after closing a loophole that had allowed trading to continue outside regulated platforms in the United States. Led...
View ArticleQuote of the day: Zia Ullah, Pannone
"A few billion dollars in the context of the hundreds and hundreds of billions of dollars of sanctions ... is relatively small. I don't think any major bank will take the risk of opening any channels...
View ArticleEx-SAC analyst takes stand in Steinberg's insider trading trial
The U.S. government's main witness in the insider trading case against Michael Steinberg took the stand Tuesday to testify against his former boss at Steven A. Cohen's SAC Capital Advisors. Jon...
View ArticleU.S. SEC charges Detroit money fund manager with fraud
U.S. regulators filed civil fraud charges on Tuesday against a Detroit-based money market fund manager and the advisory firm where he works, saying they misled the fund's board about credit risks and...
View ArticleLas Vegas Sands Corp non-prosecution agreement an example of how to negotiate...
Blaming low-level employees for anti-money laundering lapses is not going to get financial institutions off the hook when the Justice Department comes calling, the top federal prosecutor in Los Angeles...
View ArticleSEC fines New York financier $1.4 million over microcap violations
The Securities and Exchange Commission has fined a New York-based penny stock financier $1.4 million in connection with a scheme to unlawfully acquire and sell billions of shares of penny stock in...
View ArticleCanadian securities regulators propose new exemption for distributions to...
Canadian securities regulators have proposed a new prospectus exemption that would allow issuers listed on the TSX Venture Exchange (TSX-V) to raise money by distributing securities to their existing...
View ArticleBarclays Capital ordered to pay $2.1 million to New York trader
Barclays Capital Inc has been ordered to pay $2.1 million to a New York-based trader it fired last year in connection with the alleged rigging of the London interbank offered rate, or Libor, according...
View ArticleUBS clamps down on online chat use - memo
Swiss bank UBS is the latest multinational bank to curb the use of electronic chat rooms at its workplace, according to a memo seen by Reuters on Wednesday. Earlier this month Reuters reported that...
View ArticleSAC's Steinberg wanted 'edgy' information, ex-analyst says
A former analyst testified on Wednesday that SAC Capital Advisors portfolio manager Michael Steinberg pushed him to obtain "edgy" information about technology companies after he had made money-losing...
View ArticleEXCLUSIVE: Ex-UBS banker Weil agreed to extradition to the U.S.
Raoul Weil, a former UBS banker charged by U.S. authorities five years ago for allegedly helping rich Americans dodge taxes via secret Swiss bank accounts, has agreed to go to the United States to face...
View ArticleCayman Islands, Costa Rica sign tax pacts with U.S.
The United States has signed agreements with the Cayman Islands and Costa Rica to help those countries' banks comply with an anti-tax evasion law starting next year, the Treasury Department said on...
View ArticleSEC judge ends ex-broker's attempt around regulatory bars
A Securities and Exchange Commission administrative law judge has imposed full industry, or "collateral," bars against Frank Bluestein, a former registered representative at a broker-dealer, over his...
View ArticleBank of America to pay Freddie Mac $404 million to settle mortgage purchase...
Bank of America said it settled all claims with Freddie Mac arising from residential mortgages sold to the government-backed housing agency through the end of 2009. The bank will pay $404 million to...
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