CFTC to vote on futures block-trade rule to set reporting threshhold
The U.S. Commodity Futures Trading Commission will vote next week on a block trade proposal for the futures market. The proposal, which builds on a block trading rule that the CFTC adopted for the...
View ArticleEx-Dell employee avoids prison for help in insider trading probe
A former Dell Inc supply manager who cooperated with government insider trading investigations, including a probe of a portfolio manager at SAC Capital Advisors, avoided prison on Thursday as a result...
View ArticleEx-Tyco CEO Kozlowski says he stole out of pure greed
Disgraced ex-Tyco International Ltd chief executive Dennis Kozlowski, who was granted parole this week after serving an eight-year prison sentence, said simple greed had led him to steal more than $150...
View ArticleJPMorgan warns 465,000 card users on data loss after cyber attack
JPMorgan Chase & Co is warning some 465,000 holders of prepaid cash cards issued by the bank that their personal information may have been accessed by hackers who attacked its network in July. The...
View ArticleSecurities trade group SIFMA urges hardware revamp after Nasdaq August halt
The system governing the hardware behind the trading halt in Nasdaq stocks in August should be revamped, the securities industry trade group SIFMA urged on Thursday in calling for a step that would...
View ArticleSEC sanctions broker Tommy Belesis and his firm over improper dealings with...
The Securities and Exchange Commission on Thursday sanctioned investment banker Anastasios "Tommy" Belesis and John Thomas Financial, Inc., the broker-dealer he controlled, over breaches by the adviser...
View ArticleU.S. IRS not fully ready for FATCA law against offshore tax evasion -...
The U.S. Internal Revenue Service has spent 19 months and more than $8.6 million getting ready to enforce a new law against offshore tax evasion that takes effect next year, but the agency is still not...
View ArticleU.S. CFTC chief said to win Volcker rule ban for foreign banks -report
U.S. Commodity Futures Trading Commission chief Gary Gensler has convinced regulators to insert new language into the Volcker rule restricting foreign banks from evading the rule, Bloomberg reported on...
View ArticleJPMorgan emails show China family hires made to win deals -report
Internal JPMorgan Chase & Co emails and computer files being examined by U.S. authorities show that the bank favored hiring people from prominent Chinese families in order to win investment banking...
View ArticleQuote of the Day: Marc Mukasey, attorney at Bracewell & Giuliani
"Just because someone committed an act that in the eyes of the jury and maybe the court is a legal violation, it doesn't mean you're a bad person." -- Marc Mukasey, attorney at Bracewell &...
View ArticleU.S. judge weighs penalties after Bank of America fraud verdict
A U.S. judge is considering an alternative that could result in Bank of America Corp BAC.N paying much less than the $863.6 million the government is seeking as a penalty for the sale of defective...
View ArticleSEC's Gallagher seeks public company disclosure reforms
A top U.S. securities regulator on Friday called for reforms to streamline the disclosures that public companies are required to file, saying he is concerned that some company filings may not actually...
View ArticleFederal Reserve issues technical fix to market-risk capital rule to conform...
The Federal Reserve Board issued a final rule that makes technical changes to the Board's market risk capital rule to align it with the Basel III revised capital framework adopted by the Board earlier...
View ArticleRogue trader gets prison, told to repay Goldman $118 million
Former Goldman Sachs Group Inc trader Matthew Taylor was sentenced to serve nine months in prison and pay $118 million in restitution to his former employer after he pleaded guilty to pursuing an...
View ArticleArbitrators could receive pay hike under FINRA plan
Arbitrators who hear legal disputes between investors and their brokerage firms could receive their first pay hike in 14 years under a proposal approved by Wall Street's industry-funded watchdog,...
View ArticleOCC's Curry says wants to revisit bank pay rules in 2014
U.S. Comptroller of the Currency Thomas Curry said on Friday he hopes that early next year regulators will revisit proposed rules barring banks from using pay structures that encourage employees to...
View ArticleNew hedge funds need $300 million in assets just to break even
Traders launching a hedge fund need to raise at least $300 million in assets to pay for rising regulatory costs and to offset lower fees, a survey showed, a far cry from the pre-crisis days when...
View ArticleDeutsche Bank creates new post to tighten controls
Deutsche Bank created a new senior position to govern compliance and risk management throughout the group and named a top McKinsey consultant to fill it, less than a week after EU officials fined...
View ArticleIOSCO warns of chaos in competing derivatives rules
Failure to thrash out a common supervision of the $640 trillion global financial derivatives industry will split markets and bump up costs for end users, a top regulator said on Monday. Banks which...
View ArticleGerman engineering company to pay $32 million over U.S. corruption charges
German engineering company Bilfinger SE will pay $32 million to resolve U.S. criminal charges that it bribed Nigerian officials to obtain contracts on a gas project in the African nation, the Justice...
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