Swiss banks agree to US tax deal, more expected to follow
The first Swiss banks have signalled their readiness to work with U.S. officials in a crackdown on wealthy Americans evading taxes and many more are expected to follow in the coming weeks, in the...
View ArticleQuote of the Day: SEC Commissioner Daniel Gallagher
"I think you would be hard-pressed to find any rational regulatory policy that would underlie a $13 billion penalty against shareholders." -- Securities and Exchange Commission member Daniel Gallagher....
View ArticleFINRA fines Oppenheimer for overpricing muni bond deals
A U.S. financial industry regulator said on Monday it has fined brokerage firm Oppenheimer & Co and its head municipal securities trader for overcharging municipal bond customers. The Financial...
View ArticleOdd-lot trading data starts being publicly disseminated in transparency bid
Small trades of less than 100 shares began being reported to the "consolidated tape" on Monday, almost four years after regulators asked whether the increased use of "odd lots" was a sign of traders...
View ArticleGroups urge Congress to let SEC to charge fees for adviser exams
A coalition of groups representing investment advisers and state regulators has asked Congress to support a bill that would let the U.S. Securities and Exchange Commission to charge investment advisers...
View ArticleU.S. Republican SEC member blasts $13 billion JPMorgan settlement
A Republican member of the U.S. Securities and Exchange Commission blasted other government regulators on Monday for requiring JPMorgan Chase & Co to pay $13 billion to resolve allegations of...
View ArticleUpdate: Final Volcker rule to hold chief executives accountable,...
The final version of the Volcker rule to ban banks from gambling with their own money is "significantly different" from the originally proposed version and its implementation will be delayed until...
View ArticleFDIC’s adds more flesh to “Single Point of Entry” resoluition plans, but...
The Federal Deposit Insurance Corporation, under mounting pressure from the industry for greater clarity, announced on Tuesday additional details on its “Single Point of Entry” resolution plans for...
View ArticleU.S. regulators seek to curb Wall Street trades with Volcker rule; burden...
U.S. banks will no longer be able to make big trading bets with their own money after regulators on Tuesday finalized the Volcker rule and shut down what was a hugely profitable business for Wall...
View ArticleTwo more Swiss banks join U.S. tax deal
Three more Swiss banks said they would work with U.S. officials in a crackdown on wealthy Americans evading taxes through hidden offshore accounts, a trickle that could rise to about one third of the...
View ArticleQuote of the Day: Gary Gensler, chairman of the U.S. Commodity Futures...
"As a foundation, the final Volcker Rule requires banking entities to have a robust compliance program, including defined limits on market making, underwriting and hedging activities as well as...
View ArticleColumn: Justice Department's draft complaint vs JPMorgan sought as questions...
If JPMorgan Chase and the Justice Department thought that all the zeroes at the end of the bank’s multibillion-dollar settlement for mortgage securitization failures would foreclose questions about the...
View ArticleU.S. Volcker Rule places major new demands on compliance
The Volcker Rule final version adopted on Tuesday by U.S. regulators imposes significant compliance demands on banks, with stricter prohibitions on proprietary trading than the initial proposal two...
View ArticleRoyal Bank of Scotland to pay $100 million for U.S. sanctions busting...
Royal Bank of Scotland Group Plc has entered into an enforcement action and agreed to pay $100 million to settle allegations it violated U.S. sanctions against Iran, Sudan, Myanmar and Cuba by removing...
View ArticleFinancial firms see steep increase in IT security incidents during 2013, says...
Cyber attacks on financial services firms worldwide has risen by 170 percent in the last year, a survey has found, highlighting the need for compliance and risk management professionals to ensure their...
View ArticleQuote of the Day: Raymond Baker, President, Global Financial Integrity
"The illicit underworld is thriving - siphoning more and more money from developing countries each year." -- Raymond Baker, President, Global Financial Integrity. For full story, please click here.
View ArticleExclusive: As Fed looms, Morgan Stanley sets sale of U.S. oil-terminal business
Morgan Stanley has launched a formal effort to sell its controlling stake in U.S. oil terminal and transport business TransMontaigne, four sources said on Wednesday, following other Wall Street...
View ArticleFutures traders shun mandatory guards against 'wash trades'
Mandatory safeguards to prevent automated traders from illegally acting as buyer and seller in the same transactions would be harmful to the trading industry by exposing firms to unnecessary risk, a...
View ArticleU.S. authorities near deal with JPMorgan over Madoff; $2 billion penalty,...
JPMorgan Chase & Co is working with criminal and regulatory authorities on settlements over the bank's relationship with convicted Ponzi schemer Bernard Madoff, ones that would involve $2 billion...
View ArticleBritish hedge fund GLG settles SEC charges over inflated assets, fees
British hedge fund adviser GLG Partners LP and a former holding company agreed to pay about $9 million to settle U.S. regulatory charges that internal control failures had caused them to inflate a...
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