New SEC member weighs in on money funds with call for tighter rules
Money market funds remain vulnerable to runs by investors, and should be subject to further regulation to reduce such risks, one of the newest members of the U.S. Securities and Exchange Commission...
View ArticleU.S. SEC, Deloitte resolve dispute over Longtop audit work papers
U.S. regulators and Deloitte's Chinese unit have resolved a legal dispute over access to audit work papers related to a fraud investigation into Longtop Financial Technologies, a Chinese company. The...
View ArticleMexico's Banorte fined in U.S. for lax money laundering controls
Wall Street's industry-funded watchdog FINRA on Tuesday fined Mexican bank Grupo Financiero Banorte $475,000 for inadequate money-laundering controls and for failing to register certain foreign workers...
View ArticleJefferies pays $25 million to settle MBS trading probes
Jefferies Group LLC has agreed to pay $25 million to settle U.S. criminal and civil probes into purchases and sales of mortgage-backed securities after the 2008 financial crisis. In a regulatory filing...
View ArticleCanadian prudential regulator proposes tighter pre-notification rules for...
As part of continuing efforts to strengthen corporate governance, Canada's prudential regulator wants to expand existing rules that require institutions to give prior notice of senior management...
View ArticleNew York state to propose regulating virtual currencies; arrested industry...
New York will propose regulating virtual currency firms that operate in the state this year and may require them to obtain a "BitLicense," state banking regulator Benjamin Lawsky said on Tuesday. The...
View ArticleSEC issues risk alert for fund advisers over weaknesses in alternative...
The U.S. Securities and Exchange Commission on Tuesday issued a risk alert risk alert for investment advisers after finding deficiencies in practices for recommending alternative investment vehicles...
View ArticleExclusive: U.S. readies financial sanctions against Ukraine - congressional...
The Obama administration is preparing financial sanctions that could be imposed on Ukrainian officials and protest leaders if violence escalates in the political crisis gripping Ukraine, congressional...
View ArticleCanadian regulators seek change in prospectus-exempt distribution of...
The Canadian Securities Administrators (CSA) has proposed a number of amendments relating to the short-term debt prospectus exemption in National Instrument 45-106 Prospectus and Registration...
View ArticleOne third of bank executives see poor money laundering controls, finds KPMG...
One in three senior bank executives believes their institution has poor anti-money laundering controls at a time when the threat of vast regulatory fines and criminal prosecutions is increasing,...
View ArticleExclusive: Deutsche Bank suspends New York head of emerging-markets forex desk
Deutsche Bank has suspended the head of its emerging markets foreign exchange trading desk in New York in connection with ongoing investigations into the alleged manipulation of the global currency...
View ArticleBankers anxious over anti-money laundering push to go after individuals
A new push by regulators and lawmakers to hold individuals, rather than just institutions, accountable for regulatory violations involving money laundering is spooking members of the U.S. financial...
View ArticleNew York private equity manager, firm charged with $9 million theft
The U.S. Securities and Exchange Commission (SEC) announced on Thursday it has charged a New York private equity manager and his firm with stealing more than $9 million from fund investors. The...
View ArticleU.S. CFTC's top Libor cop to join New York law firm
David Meister, who led the regulatory charge against investment banks for manipulating the Libor benchmark, will return to the law firm Skadden, Arps, Slate, Meagher & Flom LLP, the firm said on...
View ArticleU.S. raises to $2.1 billion penalties sought from Bank of America in fraud case
The U.S. government has raised the amount it is seeking in penalties from Bank of America Corp to $2.1 billion after a jury found the bank was liable for fraud over defective mortgages sold by its...
View ArticleU.S. judge Rakoff takes on SEC again, questions Heinz insider trading pact
A federal judge who has questioned the U.S. Securities and Exchange Commission's practice of settling cases without admissions of wrongdoing is raising concerns about a proposed agreement over insider...
View ArticleSEC examiners to review how asset managers fend off cyber attacks
U.S. regulators said Thursday they plan to scrutinize whether asset managers have policies to prevent and detect cyber attacks and are properly safeguarding against security risks that could arise from...
View ArticleSupervise tweets as you would other ads, SEC warns advisers and CCOs in...
Investment advisers must review their newsletters and social media postings as carefully as any other communication with clients and potential clients to avoid making false or misleading claims, the...
View ArticleFCA fines State Street UK £22.9 million for overcharging transitions...
State Street UK has been fined £22,885,000 by the UK Financial Conduct Authority (FCA). State Street UK's transitions management (TM) business had developed and executed a deliberate strategy to charge...
View ArticleMLROs question whether full compliance is possible as global AML spending...
Money laundering reporting officers (MLROs) have questioned whether it is possible to have a fully compliant global anti-money laundering (AML) programme following a swathe of ever-changing regulatory...
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