New York Fed threatens new rules to stop repo-market fire sales
The banks and big funds in a key short-term funding market have not even begun to address the risk of destabilizing "fire sales," and the lack of action may force regulators to step in with new rules,...
View ArticleU.S. SEC close to naming ex-FINRA official as trading and markets head
The U.S. Securities and Exchange Commission is close to naming lawyer and former regulator Stephen Luparello as head of its division that oversees exchanges, brokerages, and clearing agencies,...
View ArticleSEC names regulatory veterans to investor advocacy, cross-border and CorpFin...
The U.S. Securities and Exchange Commission has named a senior official representing state financial regulators to lead a new unit aimed at addressing the interests of retail investors. The commission,...
View ArticleU.S. regulator FINRA approves two changes in broker-investor arbitration
The Financial Industry Regulatory Authority's board of governors on Thursday approved two measures that could lead to big changes in its securities arbitration system, where investors and brokerages...
View ArticleGlobal regulators to scrutinize FX benchmarks
Global regulators and central bankers are to include foreign exchange rate benchmarks in the analysis the Financial Stability Board is carrying out of financial benchmarks through its high-level...
View ArticleSerious Fraud Office charges three ex-Barclays bankers over Libor
Britain's fraud agency started criminal proceedings against three former bankers at Britain's Barclays Plc on Monday for the alleged manipulation of Libor interest rates. The Serious Fraud Office (SFO)...
View ArticleSFO and Crown Prosecution Service set out parameters of tough new company...
The Serious Fraud Office (SFO) and the Crown Prosecution Service (CPS) have released a code of practice designed to accompany deferred prosecution agreements (DPAs), which take effect next week. One...
View ArticleForeign banks push back on CFTC's transaction-level requirements
Foreign banks with staff in the United States are questioning how the Commodity Futures Trading Commission applies its rules for regulating cross-border swaps trades. During a meeting of the CFTC's...
View ArticleFirst U.S. bitcoin ATMs to open soon
Robocoin said on Tuesday that later this month it will install the first automated teller machines in the United States that let users buy and sell bitcoin, the latest step into the mainstream for the...
View ArticleU.S. to let banks do business with licensed pot shops, with conditions
The Obama administration on Friday issued new law-enforcement guidelines aimed at encouraging banks to start doing business with state-licensed marijuana suppliers, like those in Colorado, even though...
View ArticleU.S. Fed issues tough final capital rule for foreign banks, extends deadline
The U.S. Federal Reserve on Tuesday adopted the final version of tight new capital rules for foreign banks, giving them a year longer to meet the standard and applying it to fewer banks than in a first...
View ArticleU.S. says ex-Jefferies banker lied to clients, as trial starts on TARP...
A former Jefferies Group Inc investment banker "cheated, misled and defrauded" clients to boost profit in a $2 million scheme that took advantage of a federal program created in response to the 2008...
View ArticleU.S. court boosts SEC's power to recoup insider trading profits
A divided federal appeals court on Tuesday strengthened the U.S. Securities and Exchange Commission's ability to recover insider trading profit from people who do not personally benefit directly from...
View Article"Big data" tools will improve regulatory oversight, FINRA's di Florio says
The Financial Industry Regulatory Authority is developing a suite of "big data" information sources and analytics to improve regulatory oversight of securities firms, Carlo di Florio, FINRA's Chief...
View ArticleRBS suspends FX trader, bringing total to three
Royal Bank of Scotland has suspended a senior currency trader in London, bringing to three the number of traders suspended by the bank since a global investigation into allegations of rigging reference...
View ArticleUK finance ministry updates list of deficient AML states
HM Treasury has updated its list of countries that have strategic anti-money laundering deficiencies following the Financial Action Task Force's recent plenary meeting in Paris. The update mirrors the...
View ArticleRBS agrees to $275 million mortgage-debt settlement
Royal Bank of Scotland Group Plc has agreed to pay $275 million to resolve a U.S. lawsuit accusing it of misleading investors in mortgage-backed securities, lawyers for the plaintiffs said on...
View ArticleHedge fund analyst charged with stealing secret trading algorithms
Authorities in New York have accused a 28-year-old former quantitative analyst of stealing information about the algorithmic trading models used by the $14 billion hedge fund where he worked, according...
View ArticleNasdaq to roll out 'kill switch' to help catch trading errors
Nasdaq OMX Group plans to roll out a "kill switch" that would cut off trading of its member firms when pre-set limits are breached, the exchange operator said in a regulatory filing. Controlling risk...
View ArticleSEC warns compliance chiefs in adviser firms to get educated on their...
As the Securities and Exchange Commission ramps up on its enforcement efforts, the agency is warning chief compliance officers in investment adviser firms to get smart about their obligations. "As a...
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