Three ex-Rabobank traders charged with manipulating Yen Libor
Three former traders at Dutch lender Rabobank were criminally charged on Monday with manipulating the Yen Libor benchmark interest rate, the U.S. Department of Justice said. Two former Japanese Yen...
View ArticleUS House Democrats request probe into Target card breach
Democratic members of the Financial Services Committee of the U.S. House of Representatives have called on the panel to investigate the hacking of credit and debit card data belonging to millions of...
View ArticleCanada watchdog to monitor how banks set benchmark rate
Canada's banking watchdog will take on the role of supervising the country's equivalent of the Libor benchmark lending rate, applying lessons learned from a global scandal over Libor manipulation. The...
View ArticleU.S. Fed set to push ahead on new commodity trade rules
The U.S. Federal Reserve is set to take its first formal step toward limiting the role of Wall Street banks in physical commodities markets this week by issuing a notice to seek public comment on the...
View ArticleIndustry groups ask regulators to reconsider Volcker rule ban on...
Groups representing the financial industry have written to regulators asking them to clarify a provision in the Volcker rule that bans banks from owning a class of securities known as collateralized...
View ArticleU.S. judge tosses bankers' suit over FATCA-related rules to fight tax-dodging
In a win for the Obama administration's fight against offshore tax evasion, a U.S. federal judge on Monday dismissed a lawsuit challenging new rules forcing U.S. banks to tell the Internal Revenue...
View ArticleEXCLUSIVE: FBI suspects front running of Fannie, Freddie in swaps market
Wall Street traders may be manipulating a key derivatives market and front running Fannie Mae and Freddie Mac, hurting the US-owned mortgage giants in the process, according to an FBI intelligence...
View ArticleCanada banks to follow Basel leverage guideline - regulator
Canada's bank regulator will force the country's lenders to adopt a global leverage standard put in place by the Basel Committee on Banking Supervision, but will not follow the lead of the United...
View ArticleDispute over foreign bank assets sent to New York's highest court
In a case with wide implications for the global banking industry, New York's highest state court has been asked to decide if banks operating in the state can be forced to turn over to litigants assets...
View ArticleNasdaq pushes to speed up talks over market fixes
Nasdaq OMX Group is prepared to walk away from running the data processor that was at the center of a three-hour trading halt in August, in a sign of its frustration with the pace of talks over...
View ArticleSEC prevails over absent Wells broker on Burger King trades
A former Wells Fargo & Co broker in Miami has been ordered to pay $5.63 million for trading Burger King securities ahead of a 2010 buyout of the fast-food chain based on inside information he...
View ArticleChicago futures broker fined over recordkeeping violations
New World Holdings, LLC, a Chicago-based introducing broker, will pay $50,000 for failing to maintain business records, the Commodity Futures Trading Commission said Tuesday. In addition to imposing a...
View ArticleWall Street regulators face budget crunch under new spending deal
Two of Wall Street's top regulators are due to receive much smaller increases in their budgets than they requested, potentially hobbling their ability to police the markets for wrongdoing. The $1.1...
View ArticleU.S. Treasury to let industry work out Bitcoin policies without formal...
The U.S. Treasury Department has no plans to issue guidance to clarify the legal and money laundering risks banks face if they choose to offer services to businesses linked to the digital currency...
View ArticleBanks get reprieve on investments they can own under the Volcker rule
U.S. regulators have agreed to amend the Volcker rule's ban on owning certain types of private investment funds, in the face of challenges from the financial industry including a lawsuit. The five...
View ArticleDeutsche, Citi feel the heat of widening FX investigation
Global investigations into alleged currency market manipulation intensified on Wednesday as U.S. regulators descended on Citigroup's London offices and Deutsche Bank suspended several traders in New...
View ArticleBig banks fall short in gathering risk data, global supervisors' group says
Some of the world's biggest banks are falling short in collecting data on the risks they face doing business with one another and with other large institutions, according to a bank regulators' report...
View ArticleHong Kong trader convicted for hiding U.S. FINRA sanction from regulator
A former trader in Hong Kong has been convicted in court for attempting to hide from the territory's securities regulator that he had been sanctioned by a U.S. regulator. The Eastern Magistrates’ Court...
View ArticleEx-fugitive gets more than 15 years in U.S. prison for forex fraud
A man who fled the United States with millions of dollars he stole from investors in a foreign currency investment fraud was sentenced on Wednesday to more than 15 years in prison. Aleksander Efrosman,...
View ArticleU.S. Senate hearing urges quicker commodity limits on banks after Fed...
U.S. lawmakers at a Senate hearing on Wednesday pushed financial regulators to speed up efforts to limit Wall Street's role in physical commodities markets, pressing for a pivotal policy shift after a...
View Article