NYSE says it would take over Nasdaq stock quote system
NYSE Euronext offered on Wednesday to take over the data processor at the center of the massive Nasdaq trading outage last August after Nasdaq OMX Group Inc indicated it would stop running it. NYSE...
View ArticleRegulators must coordinate Volcker rule efforts to avoid undue burdens, SIFMA...
The multiple U.S. regulators that adopted the "Volcker rule" against risky trading by banks need a "consistent approach" to implementation to avoid placing undue compliance burdens and costs on firms...
View ArticleU.S. bank group drops request for emergency Volcker relief after rule eased
The American Bankers Association on Wednesday dropped its request for emergency relief from a provision of the Volcker rule after financial regulators eased some of the rule's requirements. The ABA,...
View ArticleCost-benefit challenges herald wider economic scrutiny of financial...
Regulatory challenges based on the process of analyzing costs and benefits are only the beginning of wider consideration of the economic consequences of regulation, the financial industry’s leading...
View ArticleU.S. academics devise computer formula for rulemakers to track comments...
Three academics say they have come up with a way for Wall Street regulators to harness powerful computer algorithms to gauge how well public feedback is received and incorporated into the rules they...
View ArticleRegulators bar JP Morgan official, friend over insider-trading
Wall Street's self-funded regulator said Thursday it had barred a vice president at JP Morgan Securities LLC and a former Meyers Associate executive from the securities industry for their roles in an...
View ArticleBanks face big compliance spending to implement new global AML guidelines,...
Banks are facing higher compliance spending in order to implement new global anti-money laundering (AML) guidelines, which one former senior money laundering reporting officer said was as important as...
View ArticleEXCLUSIVE: U.S. SEC may seek more power to enforce Volcker rule
U.S. securities regulators fear they do not have the full range of enforcement powers to police Wall Street's compliance with the controversial Volcker rule, and told Reuters they are considering new...
View ArticleRegulator OCC wants U.S. banks to disclose risk-appetite levels, limits
Big U.S. national banks would have to report their risk appetites and boost oversight by their boards under news rules proposed by a U.S. bank regulator on Thursday to help avoid a repeat of the...
View ArticleHSBC, Citi suspend traders as FX probe deepens
HSBC and Citigroup both suspended foreign exchange traders on Friday as a global probe into possible currency market manipulation intensified. Regulators from the United States arrived in London this...
View ArticleEXCLUSIVE: HSBC still in regulators' crosshairs over money-laundering
U.S. regulators continue to find weaknesses in the way HSBC Holdings tries to prevent money laundering, according to people familiar with the matter, even after the British bank was forced to pay...
View ArticleU.S. regulators tell Rabobank: Fix anti-money laundering programs
U.S. regulators told Dutch bank Rabobank to fix problems with its anti-money laundering programs last month after identifying compliance issues in an order made public on Friday. The Office of the...
View ArticleThe U.S. government's bitcoin bonanza: How, where and when to sell?
U.S. prosecutors in Manhattan are sitting on a multimillion-dollar bitcoin gold mine. And it could get much bigger. Federal authorities hauled in 29,655 units of the digital currency - worth $27...
View ArticleRegulators start work on new bank asset valuation rule
Global regulators are planning the world's first common rule within three years to value hard-to-price assets held by banks after unexpected revisions have unsettled investors, the man overseeing the...
View ArticleCyber risk and agencies seizing bank customer data are high priority at Davos
High on the agenda at Davos this week is cyber risk and the threat it poses to confidential customer data, including the reality of seizures by foreign government agencies, according to Zurich. Cyber...
View ArticleEx-JP Morgan executive queried by FBI in China hiring probe -report; bank...
A former JPMorgan Chase & Co executive who ran the banks operations in Asia was questioned by FBI agents late last year about a bribery probe related to the bank's hiring practices, Bloomberg...
View ArticleCFTC wants more feedback on high speed trading plans
The Commodity Futures Trading Commission wants more feedback from the public over its plans to adopt safeguards for high speed trading. The agency announced on Friday that it was re-opening the public...
View ArticleBrokers may not tout registration as a regulatory seal of approval, SEC says
It is false and misleading for a broker-dealer to tell potential customers that regulatory oversight protects their account or denotes that a specific investment has undergone due diligence, the...
View ArticleScreening and negative news are best tools to uncover PEPs, expert says
Due diligence measures remain a vital part of efforts to detect Politically Exposed Persons' attempts to launder corruption proceeds, even as automated screening processes become must-haves in the...
View ArticleNY attorney general forms new bureau to combat financial crime
New York Attorney General Eric Schneiderman has created a new bureau to prosecute large-scale financial crimes. The newly formed Criminal Enforcement and Financial Crimes Bureau will "ferret out the...
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