Top U.S. regulators warn on expanding president's powers
Top U.S. financial regulators have told two senators a bill they are sponsoring would give the president undue influence on supervisory authorities and hurt the agencies' ability to do their job. Six...
View ArticleSEC's Schapiro says agency needs self-funding to fulfill its responsibilities
The Securities and Exchange Commission inherited new responsibilities under the 2010 Dodd-Frank law, but it needs to be self-funded to perform its new duties effectively, the agency's chairman said on...
View ArticleFeds charge two Chicago industry insiders with commodities fraud
Chicago federal prosecutors last week brought unrelated commodities fraud charges against two industry insiders, according to Acting United States Attorney Gary S. Shapiro. In one case, a grand jury...
View ArticleRajaratnam friend agrees to settle SEC insider trading case
A former chief financial officer at Xilinx Inc on Friday became the latest executive to settle civil charges of being part of now-imprisoned hedge fund tycoon Raj Rajaratnam's insider trading network....
View ArticleCiti fined $2 million over Facebook IPO, fires two analysts
Citigroup fired top Internet analyst Mark Mahaney and paid a $2 million fine to a Massachusetts regulator to settle charges that the bank improperly disclosed research on Facebook's IPO and information...
View ArticleBlackRock, others talk money market compromise with U.S. regulators
Officials from BlackRock Inc, Fidelity Investments and other mutual fund operators were meeting Friday with U.S. regulators to discuss a potential compromise for reform of the $2.5 trillion money...
View ArticlePrivate-sector task force reports to FSB on enhancing Pillar Three risk...
A private-sector task force reporting to the Financial Stability Board (FSB) has put forward recommendations for improving banks' risk disclosure practices, along with seven "fundamental principles"...
View ArticleSEC sanctions fund adviser over misleading advertising
The Securities and Exchange Commission sanctioned an investment adviser to high-yield bond funds, BTS Asset Management, Inc., on Monday over advertising misleadingly implying that the funds had never...
View ArticleUS court upholds FINRA arbitrators' ruling in Merrill case
A U.S. federal court has upheld a $520,000 arbitration ruling against Merrill Lynch that led to the firing - and rehiring - of three securities arbitrators. The U.S. District Court for the Northern...
View ArticleLegal fears muffle warnings on cybersecurity threats
The agenda at a secretive conference on protecting critical infrastructure from computer attack was curtailed at the last minute last week, underscoring the legal challenges of sharing such...
View ArticleU.S. securities regulators taking deeper look at Nasdaq's Facebook plan
U.S. securities regulators are taking a closer look at Nasdaq OMX's NDAQ.O $62 million plan to compensate brokers who suffered losses from the exchange operator's botched handling of Facebook's FB.O...
View ArticleGlobal regulators probe how banks tot up risk
Global banking regulators are investigating why banks use such a wide variety of ways to assess risk amid fears the current method for calculating capital safety cushions is not safe and is being...
View ArticleFannie, Freddie give relief to borrowers hit by Hurricane Sandy
Fannie Mae and Freddie Mac on Tuesday extended their disaster-relief policies to borrowers whose homes were damaged by Hurricane Sandy. The aid applies to property owners living in towns and cities...
View ArticleTexas men admit laundering drug money for Zetas drug cartel
Two Laredo, Texas men have pleaded guilty to money laundering charges, admitting they were involved in the transportation of drug money belonging to the Mexican drug trafficking outfit known as the...
View ArticleSEC sanctions investment adviser, affiliated broker over best execution...
The Securities and Exchange Commission has sanctioned an investment adviser, its affiliated broker-dealer and a registered representative for failing to provide clients with best execution by, among...
View ArticleCanadian Securities Administrators consider fiduciary duty for retail...
The Canadian Securities Administrators (CSA) are considering whether to legislate best-interest standards for retail investment dealers and advisers. The standard would create a legal requirement that...
View ArticleBarclays hit by fresh U.S. investigations
Barclays already rocked by an interest rate rigging scandal, unveiled new U.S. regulatory investigations into the bank's financial probity on Wednesday and said its profit was hit by charges for...
View ArticleChina to open mutual fund custody business to foreign banks
China plans to allow foreign banks to act as custodians in its $380 billion mutual fund industry for the first time, the latest move amid a raft of government reforms that seek to develop the country's...
View ArticleEven 'simple' derivatives should be excluded from ring-fenced banks, Martin...
Martin Taylor, a member of the Independent Commission on Banking that published its final report in September 2011, has told members of parliament that ring-fenced retail banks should not sell even...
View ArticleMuni underwriters to face more disclosure on bond ballot campaign donations
Municipal securities dealers and municipal finance professionals may soon be required to make more disclosures on their donations to bond ballot campaigns, the Municipal Securities Rulemaking Board...
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