SEC sanctions analysts for improperly trying to block cancer drug's approval
The Securities and Exchange Commission has sanctioned two former analysts at separate hedge fund for publishing potentially market-moving information about a cancer therapy that falsified their...
View ArticleSEC committee recommends fiduciary rules for broker dealers
Proposed fiduciary standards for broker dealers would impose enforceable, principles-based obligations to act in the best interest of customers. The recommendations by the Investor Advisory Committee...
View ArticleScandal-hit Spain plummets 10 places in global corruption index
Spain has slumped 10 places to a rank of 40 in a global index of perceived official corruption after a spate of scandals in its ruling centre-right ruling party and the royal family, watchdog...
View ArticleEU Commission to fine banks 1.7 billion euros for benchmark rigging
A group of leading European and American banks will be fined a record 1.7 billion euros (£1.4billion) by the European Commission for the rigging of interest-rate benchmarks, a source familiar with the...
View ArticleGlobal regulators expected to ease banking leverage rule - source
Global banking regulators are expected to ease a new capital rule due in 2018 to rein in risky balance sheets after U.S. complaints, two regulatory and banking sources said on Tuesday. It marks the...
View ArticleQuote of the Day: Michael Steinberg, SAC Capital Advisors portfolio manager
"Tell your boy to KEEP QUIET." -- SAC Capital Advisors portfolio manager Michael Steinberg in email presented at his insider trading trial. For full story, please click here.
View ArticleNY regulator subpoenas lead-generator websites in bid to curb payday lending
New York State's financial regulator, Benjamin Lawsky, sent subpoenas to 16 lead generator websites that sell sensitive consumer data to payday lenders, the latest development in a broader crackdown on...
View ArticleU.S. regulator to keep an eye on largest student loan servicers
The U.S. consumer financial watchdog will soon start supervising the seven largest student loan servicers to ensure they treat borrowers fairly and comply with federal consumer laws, the agency said on...
View ArticleU.S. Chamber of Commerce seeks changes to financial risk council
The U.S. Chamber of Commerce on Monday called for changes to the U.S. financial risk council that could slow the process by which it designates large financial firms as "systemic," subjecting them to...
View ArticleWells Fargo: U.S. targeting exec as defendant may be retaliation
Wells Fargo & Co said Monday that a U.S. government request to add one of its executives as a defendant in a fraud case may be in retaliation for the bank's decision to cut off settlement talks. In...
View ArticleSAC portfolio manager kept Cohen in dark about insider info - witness
SAC Capital Advisors portfolio manager Michael Steinberg deliberately avoided telling his boss Steven A. Cohen that he was trading on Dell Inc with inside information, a former analyst at the hedge...
View ArticleU.S. Fed approves capital plans of Goldman and JPMorgan
The U.S. Federal Reserve on Monday said it approved new capital plans by Goldman Sachs and JPMorgan Chase, after initially ordering the banks to fix flaws in their capital planning processes. The plans...
View ArticleSEC offers guidance on the 'venture capital exemption' to adviser registration
Advisers to venture capital funds may be exempt from registration under the Investment Advisers Act of 1940 if they meet certain criteria, the staff of the Securities and Exchange Commission Division...
View ArticleQuote of the Day: E. Gerald Corrigan, Goldman Sachs
“If you haven’t got the risk monitoring right you’ve got a problem.” -- E. Gerald Corrigan, managing director in Goldman Sachs executive office and co-chair of Goldman's firm-wide risk management...
View ArticleCanadian securities regulator alleges that B.C. mining analyst engaged in...
The British Columbia Securities Commission (BCBS) has accused a mining cost analyst of engaging in insider trading. The notice of hearing alleges that Robert Launder sold shares of Baja Mining Corp....
View ArticleAccounting body says loan rule for banks ready in January
An accounting rule forcing banks to set aside capital far earlier for troubled loans will be completed next month and start in 2017, a global standard setter said on Tuesday. Leaders of 20 major...
View ArticleBasel regulators expected to ease banking leverage rule - source
Global banking regulators are expected to ease a new capital rule due in 2018 to rein in risky balance sheets, following U.S. complaints, two regulatory and banking sources said on Tuesday. It marks...
View ArticleRogue trader should pay $118 million to Goldman Sachs, U.S. prosecutors say
A former Goldman Sachs Group Inc trader who pleaded guilty to fraudulently building an unauthorized $8.3 billion futures trade should repay $118 million to his former employer to cover its losses and...
View ArticleWal-Mart pays lawyer fees for dozens of execs in bribery probe
Wal-Mart Stores Inc is paying for lawyers to represent more than 30 of its executives involved in a foreign corruption investigation, according to people familiar with the matter, an unusually high...
View ArticleCanadian bank regulator issues draft guideline on intraday liquidity monitoring
The Office of the Superintendent of Financial Institutions (OSFI), Canada's federal banking regulator, has issued a draft Liquidity Adequacy Requirements Guideline, which reflects the intraday...
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