SEC sanctions trader over insider trading, Rule 105 short-sale violations
The Securities and Exchange Commission on Tuesday sanctioned a trader and two companies he controls over insider trading in the stock of a China-based company and conducting illegal short sales in the...
View ArticleFinancial firms to create entities that deal with U.S., European...
Financial institutions are evaluating how best they can reduce the extra-territorial impact of U.S. and European over-the-counter (OTC) derivatives regulations by allowing only certain of their...
View ArticleEU fines global banks $2.3 billion for benchmark rigging
EU antitrust regulators fined six financial institutions including Deutsche Bank, Royal Bank of Scotland and Citigroup a record total of 1.71 billion euros ($2.3 billion) on Wednesday for rigging...
View ArticleU.S. swaps regulator says more time needed on cross-border rules
U.S. regulators will likely miss a December deadline to finalise a key part of their cross-border rules on swaps trading, a top derivatives regulator said on Wednesday, a delay that will bring more...
View ArticleU.S. regulators plan December 10 Volcker rule vote
Wall Street banks will get the final decision about a controversial ban on betting with their own money next week after years of debate, as three U.S. regulators each announced meetings to vote on the...
View ArticleINTERVIEW: Goldman's Corrigan: risk-management depends on values, culture;...
Values are what determine a firm’s culture, a cornerstone of any institution’s ability to navigate the complex risks that have evolved in the financial industry over the past few decades, said E....
View ArticleLarge Dodd-Frank bounties luring whistleblower tips from U.S., abroad, Hong...
The lure of substantial rewards has prompted an increasing number of people to make whistleblower tips under the Dodd Frank Act (2010), a U.S. lawyer said. For example, on October 1, 2013, the U.S....
View ArticleQUOTE OF THE DAY: U.S. Attorney General Eric Holder
"We have a number of investigations that are coming to a head at the same time. It is my hope that the next round of these cases will be filed soon after the new year." -- U.S. Attorney General Eric...
View ArticleU.S. House passes bill to exempt private-equity advisers from SEC...
The U.S. House of Representatives passed a bill on Wednesday that would largely spare private equity fund advisers from federal regulations enacted after the 2007-2009 financial crisis. The bill would...
View ArticleFifth Third settles SEC charges over financial-crisis accounting
Fifth Third Bancorp, a large U.S. Midwest regional bank, agreed to pay $6.5 million to settle U.S. Securities and Exchange Commission charges that it accounted improperly for troubled commercial real...
View ArticleCanadian insurance regulators launch national database of disciplinary actions
Canadian consumers and insurance industry participants will now have access to the names of persons and firms disciplined within the insurance industry through the Canadian Insurance Regulators...
View ArticleCanadian securities regulators propose limited disclosure relief for private...
Canadian securities regulators have proposed amendments (PDF) that would relieve certain disclosure requirements for foreign securities offered to sophisticated (e.g. institutional) Canadian investors...
View ArticleU.S. business lobby urges stability council to change how it designates...
The trade lobby for the U.S. business community has called on the council responsible for monitoring risks to the financial system to change its approach for deciding which non-bank financial firms are...
View ArticleCFTC must resolve rule implementation failings, says commissioner O'Malia
The U.S. Commodity and Futures Trading Commission (CFTC) should restore "regulatory sanity" by fixing rules that are broken and setting priorities to resolve rule implementation failings, said Scott...
View ArticleExclusive: U.S. plans new bank-fraud cases in early 2014 - Attorney General...
The U.S. Justice Department plans to bring civil mortgage fraud cases against several financial institutions early in 2014, using as a template the case that ended last month in JPMorgan Chase &...
View ArticleU.S. Treasury chief says to press Europe, Asia to make banking, securities safer
The United States said on Tuesday it would press Europe and Asia in the coming year to match U.S. efforts to make banking and securities trading safer, and pledged to keep any new free trade deal from...
View ArticleU.S. CFTC's cross-border swaps rules challenged in suit by global banks
Four international trade associations representing the world's largest banks today filed a lawsuit seeking to block U.S. cross-border derivatives rules. They claim that the Commodity Futures Trading...
View ArticleDeutsche Bank quits commodities under regulatory pressure
Deutsche Bank AG pulled the plug on its global commodities trading business on Thursday, cutting 200 jobs as it becomes the first major bank to exit the once lucrative sector due to toughening...
View ArticleBREAKINGVIEWS: Benefits of being "G-SIFI" seem to outweigh costs
The benefits of being labeled “too big to fail” may just outweigh the costs. Since regulators first published their list of global systemically important financial institutions, or G-SIFIs, the banks...
View ArticleQuote of the Day: Neil Vernon, Gresham Computing.
"There is no edict saying firms shouldn't use spreadsheets, but there is plenty of evidence that the middle office in particular is too spreadsheet-centric. There are plenty of places where the...
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