U.S. audit watchdog nearing China deal to inspect audit firms
The top U.S. audit watchdog said on Wednesday that the United States and China are close to striking a deal that would allow Washington to inspect the audit work of accounting firms in China. Such a...
View ArticleCanadian police charge two more former SNC Lavalin executives with fraud,...
The Royal Canadian Mounted Police (RCMP), Canada's counterpart to the FBI, has filed criminal charges against two former senior executives from Montreal-based SNC Lavalin, one of the world's largest...
View ArticleCiti to pay $110 million in suit over force-placed insurance
Citigroup Inc has agreed to pay $110 million to thousands of homeowners who were forcibly charged expensive property insurance premiums, a court filing showed, as several U.S. banks and insurers were...
View ArticleU.S., Canada forge FATCA deal in global anti-tax dodger push; U.S. bankers...
Canada and the United States on Wednesday unveiled a tax information-sharing pact, advancing the Obama administration's fight against tax dodgers, although challenges remained to implementing a U.S....
View ArticleGlobal forex probe widens as New York banking regulator steps in, Deutsche...
New York banking regulator Benjamin Lawsky is seeking documents from some of the biggest banks in foreign exchange trading, including Deutsche Bank, Goldman Sachs and Barclays, a source familiar with...
View ArticleRegulators underline large banks’ compliance requirement challenges during...
Preparation by large banks will be critical for large banks for the Volcker rule’s implementation during a conforming period leading to July 21, 2015, regulators told the U.S. Cogress in a House...
View ArticleCanadian jurisdictions delay key implementation milestones for new national...
Ontario, British Columbia, and the Canadian federal government have jointly announced several delays in the implementation of a planned national securities regulator. While stressing that the final...
View ArticleU.S. diversity plan for financial firm hiring depends on will of companies...
A plan by U.S. financial industry regulators to improve hiring opportunities for women and minorities could depend more on the will of companies than the clout of regulation to reach its goal,...
View ArticleBrown Brothers to pay $8 million fine for money laundering violations
Brown Brothers Harriman has agreed to pay a record $8 million civil fine for "substantial" violations involving its program to detect and prevent money laundering, Wall Street's industry-funded...
View ArticleWall Street regulator FINRA revives plan for broker disclosure link
Wall Street's industry-funded watchdog will present a retooled plan to its board next week designed to make it easier for investors to research the backgrounds of brokerage firms and brokers, according...
View ArticleTreatment of collateralized loan obligations under Volcker tops regulators'...
The five regulatory agencies charged with implementation of the Volcker rule came under fire from U.S. legislators on Tuesday over the Volcker rule’s treatment of collateralized loan obligations...
View ArticleSAC's Martoma found guilty of insider trading
Mathew Martoma, a former portfolio manager at billionaire Steven A. Cohen's SAC Capital Advisors hedge fund, was found guilty on Thursday of engaging in what prosecutors called the most lucrative...
View ArticleJPMorgan's Masters joins regulator advisory committee
Blythe Masters, who heads JPMorgan's commodity business, has joined a committee advising the U.S. derivatives regulator, the agency said on Thursday, a move that comes as Masters' bank is shedding part...
View ArticleU.S. charges Swiss asset manager in offshore tax fraud case
U.S. prosecutors on Thursday announced they indicted Peter Amrein, a Swiss asset manager, on charges that he assisted U.S. taxpayers in evading millions in taxes by hiding money in offshore trusts at...
View ArticleDiamonds could be a money launderer's best friend, warns FATF
The diamond industry can act as an important gateway for money laundering and moving the proceeds of crime into the financial system, according to the Financial Action Task Force (FATF). The standard...
View ArticleNew York bank regulator stops Ocwen-Wells Fargo deal to collect payments on...
New York's top bank regulator has indefinitely halted Ocwen Financial Corp's purchase of the right to collect payments on a portfolio of mortgages from Wells Fargo & Co, a person familiar with the...
View ArticleFINRA to provide surveillance services to BATS' exchanges
Exchange operator BATS Global Markets said on Thursday it would outsource part of the surveillance of its four U.S. stock markets to the Financial Industry Regulatory Authority, expanding the...
View ArticleU.S. regulator calls for better data-breach disclosures
A top U.S. financial regulator on Thursday told lawmakers that retailers and other companies that deal with customer payments should have the same obligation as banks to report data breaches. The call...
View ArticleFCStone brokerage boss quits, regulatory stress cited
The head of INTL FCStone Inc's futures brokerage has resigned because the stress from new regulations and difficult market conditions became too intense, the chief executive of the broker's parent...
View ArticleU.S. targets businesses for evading sanctions on Iran
The Obama administration targeted a host of businesses across Europe and the Middle East on Thursday for evading sanctions against Iran, a signal that Washington aims to keep pressure on Tehran over...
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