Swaps body seeks independent administrator for ISDAFIX rate
The International Swaps and Derivatives Association (ISDA) has started looking for an independent administrator for the ISDAFIX benchmark interest rate that is being investigated over alleged rigging....
View ArticleU.S. looks at Swiss insurers in offshore probe
U.S. prosecutors are widening their probe of how Swiss banks helped wealthy Americans avoid taxes to look at insurers as well, the Wall Street Journal reported on Monday, citing unnamed sources....
View ArticleSunTrust says may face "substantial penalties" in mortgage probe
SunTrust Banks Inc said it may attract "substantial penalties" from on an ongoing mortgage-related probe and also disclosed a new investigation by the Department of Justice, according to a regulatory...
View Article'Pony' botnet steals bitcoins, digital currencies, security firm says
Cyber criminals have infected hundreds of thousands of computers with a virus called "Pony" to steal bitcoins and other digital currencies, in the most ambitious cyber attack on virtual money uncovered...
View ArticleCME Group fines traders for transactions that worried regulator
CME Group Inc, the largest U.S. futures exchange operator, on Monday announced fines against nine traders and clearing members for violating rules governing a type of transaction that U.S. regulators...
View ArticleWestern Union faces probe for fraud-induced money transfers
Money-transfer company Western Union Co is being probed by the Federal Trade Commission and a U.S. district court over fraud-induced money transfers, the company said in a regulatory filing on Monday....
View ArticleU.S. bank regulator says details worked out on leverage rules, completion 'soon'
A U.S. financial regulator said on Monday that tough new leverage requirements that will limit excessive borrowing by the biggest banks would be finished "soon." "I think we've gotten the details...
View ArticleNew case alleges improprieties at Wall Street regulator FINRA
Allegations of bad behavior at the Boca Raton, Florida, office of Wall Street's industry-funded watchdog are igniting concerns about how the Financial Industry Regulatory Authority (FINRA) manages its...
View ArticleWolfsberg Group sets out AML risks of correspondent banking relationships
A greater regulatory focus on the risks associated with correspondent banking has prompted the Wolfsberg Group, which is made up of the world's biggest banks, to release new anti-money laundering (AML)...
View ArticleSemi-annual Fed report on bank application data soon to be published
The Federal Reserve Board announced that it will soon begin publishing a semi-annual report with aggregate data and other information regarding banking applications. The report will be released in the...
View ArticleUPDATE: Bitcoin exchange Mt. Gox goes dark in blow to virtual currency
Mt. Gox, once the world's biggest bitcoin exchange, abruptly stopped trading on Tuesday and its chief executive said the business was at "a turning point," sparking concerns about the future of the...
View ArticleJPMorgan compliance chief leaves firm after a year in post -report
The compliance chief for JPMorgan Chase has left the bank as it works to overhaul its compliance and risk management amid a series of costly enforcement actions, the Wall Street Journal reported. The...
View ArticleMorgan Stanley, SEC reach $275 million proposed settlement-filing
Morgan Stanley MS.N has reached a $275 million proposed settlement with the U.S. Securities and Exchange Commission that would allow the Wall Street bank to move past a substantial legal overhang from...
View ArticleEmails suggest ex-Jefferies trader's fraud, U.S. agent testifies
Jesse Litvak, a former trader at Jefferies Group Inc, made extra commissions and profits by defrauding big Wall Street firms such as JPMorgan Chase & Co and AllianceBernstein Holding LP on bond...
View ArticleU.S. Senate panel blasts government lawyers on Swiss tax crackdown
The U.S. Justice Department is dragging its feet on prosecuting Swiss banks that helped Americans evade taxes and on collecting billions of dollars likely owed to the U.S. Treasury by tax dodgers, a...
View ArticleFed's Tarullo says need more work on too-big-to-fail banks
Regulators need to do more work to make sure the biggest U.S.-based banks are safe and protect taxpayers from costly bail-outs, Federal Reserve Governor Dan Tarullo said on Tuesday. The Fed's top...
View ArticleU.S. fair housing group files complaint against Deutsche Bank
Foreclosed houses managed by Deutsche Bank in black and Latino neighborhoods had more broken windows, damaged roofs, overgrown lawns and trash in the yard than those it managed in nearby white...
View ArticleFinancial Conduct Authority fines FXCM UK £4 million for making 'unfair profits'
The Financial Conduct Authority has fined Forex Capital Markets Ltd and FXCM Securities Ltd (FXCM UK) £4,000,000 for allowing the U.S.-based FXCM Group to withhold profits worth approximately £6...
View ArticleU.S. Fed's Dudley reinforces U.S. rules for foreign banks
It remains unclear how foreign authorities would react if a too-big-to-fail bank were to collapse into bankruptcy, a top U.S. central banker said in a defense of a controversial U.S. rule that slaps...
View ArticlePrivate equity fund manager bilked investors out of $3 million, SEC says
The Securities and Exchange Commission on Tuesday charged that private equity fund manager Scott A. Brittenham and Clean Energy Capital LLC, his investment advisory firm, misallocated over $3 million...
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