U.S. Senate likely to revisit cyber bill when Congress returns after election
Senate Majority Leader Harry Reid hopes to reintroduce cyber security legislation opposed by business groups once lawmakers return after Tuesday's election, a Senate aide said, adding that a White...
View ArticleG20 body tells derivatives regulators to work faster
Regulators have been told to work faster to iron out cross-border spats over new rules to reduce risks in the $650 trillion derivatives market as progress stalls ahead of a December deadline. The vast...
View ArticleBrokers, advisers need to be quick in returning post-hurricane calls, state...
"It is important for broker-dealers and investment advisers to return calls quickly that might have piled up in the wake of Hurricane Sandy, but those calls do not have to address customers’ questions...
View ArticleCFTC handling of swaps rules a 'train wreck' - commissioner O'Malia
The U.S. Commodity Futures Trading Commission created major confusion earlier this month when it imposed, and then suspended, a key rule governing energy derivatives, a CFTC policymaker said on...
View ArticleU.S. power watchdog seeks record $470 million from Barclays as agency cracks...
(ADVISORY - Contains language that may offend in paragraph 7) U.S. regulators threatened to fine Barclays roughly $470 million to settle allegations that the bank and four traders manipulated...
View ArticleJPMorgan sues former London Whale boss Iksil
JPMorgan Chase & Co is suing the former boss of Bruno Iksil, the trader known as the London Whale, for the outsized derivatives positions he took that cost the bank $6.2 billion. Javier...
View ArticlePower outage hits Knight Capital, cuts off trading; markets reopen mostly...
A failed backup power generator has forced Knight Capital Group to tell clients to route all stock orders away from the brokerage on Wednesday, as the effects of Sandy, the massive storm that slammed...
View ArticleInsurance salesman admits structuring transactions to aid tax evasion scheme
An independent insurance salesman for insurance company Aflac Inc has pleaded guilty to tax and currency structuring charges, admitting he swindled the Internal Revenue Service and tried to hide his...
View ArticleTop 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 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 ArticleU.S. Senate likely to revisit cyber bill when Congress returns after election
Senate Majority Leader Harry Reid hopes to reintroduce cyber security legislation opposed by business groups once lawmakers return after Tuesday's election, a Senate aide said, adding that a White...
View ArticleCFTC handling of swaps rules a 'train wreck' - commissioner O'Malia
The U.S. Commodity Futures Trading Commission created major confusion earlier this month when it imposed, and then suspended, a key rule governing energy derivatives, a CFTC policymaker said on...
View ArticleMF Global's European administrator lifts hopes for creditors
Creditors of the European arm of collapsed broker MF Global saw their prospects of being repaid given a lift on Thursday, when the unit's administrator issued a new estimate on what it might recover...
View ArticleGlobal accounting body battles to assert its authority
The world's top accounting rulesetter unveiled plans on Thursday aimed at buttressing its authority and independence in the face of calls from European groups for a greater say in how new standards are...
View ArticleFSA may put considerable pressure on insurers after Hurricane Sandy, says lawyer
The Financial Services Authority and the Lloyd's Franchise Board will put considerable pressure on insurers and reinsurers to quantify exposures to Hurricane Sandy promptly and accurately, CMS Cameron...
View ArticleGlobal regulators to fortify bank capital against operational risk after...
Banks will have to hold more capital after recent hefty fines, trading losses, money laundering and rate-rigging showed that operational risks are not being covered properly. Finance ministers from the...
View ArticleGlobal regulators set capital buffers for biggest banks; Citi, Deutsche,...
Citigroup Inc, Deutsche Bank, HSBC and JPMorgan Chase & Co will need to hold the most extra capital of 28 banks considered so large and complex they need an extra buffer to absorb potential losses,...
View ArticleU.S. regulators building national mortgage database
WASHINGTON, Nov 1 (Reuters) - U.S. regulators have begun developing a national database of mortgage loan information in order to better keep track of trends in the housing market. The Consumer...
View ArticleAs mobile banking grows at community banks, specific regulation likely says...
As mobile banking grows at community banks, specific regulation by federal and state overseers is likely, Independent Community Bankers of America Vice President of Payments and Technology Policy Cary...
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