FINRA sanctions independent brokers over supervising alternative investments
The Financial Industry Regulatory Authority has sanctioned two affiliated broker-dealers, Berthel Fisher & Company Financial Services, Inc. and Securities Management & Research, Inc., for...
View ArticleCybercrime hits financial firms hardest - survey
Cybercrime is the second most common type of fraud reported by financial firms, more than double the level across other industries, as criminals turn increasingly to technology as their main weapon...
View ArticleAsset freeze, Putin funds among options as U.S., EU weigh sanctions on Russia
Washington is weighing an array of economic weapons to penalize Russia for its armed intervention in Ukraine, from asset freezes to expelling Moscow from the G8 group of states, but may find Europe...
View ArticleU.S. regulators seeking data on banks' attempts to slim down
U.S. regulators are encouraging mega-banks to simplify their operations and they plan to compile data to track the financial firms' progress, an official with the U.S. Office of the Comptroller of the...
View ArticleBanks must accept risk weights need fixing - Basel's Ingves
Changes to how banks add up risks on their books to determine capital levels are inevitable and lenders must acknowledge there is a problem to be fixed, a global banking supervisor said on Tuesday....
View ArticleU.S. justices extend employee whistleblower protections under Sarbanes-Oxley
The U.S. Supreme Court on Tuesday said whistleblower protections of the Sarbanes-Oxley Act apply not just to publicly traded companies but also to subcontractors that do business with them. The...
View ArticleSix banks team up in plan for shared know-your-customer data register
JPMorgan, Citigroup and four more major banks have signed up with an industry group to develop a central register of information on other banks they deal with to help to meet increasing compliance...
View ArticleJapan may tax bitcoin deals, stop banks, brokerages from handling
Japan will this week set out rules on how to handle bitcoins, the first sign that the government is taking action on regulating the virtual currency after the collapse last week of Tokyo-based Mt. Gox,...
View ArticleLehman Europe creditors in line for extra $8 billion payday
Hedge funds, asset managers and other creditors of Lehman Brothers' European arm will next month be fully paid out from money recovered from the carcass of the bank and could get an extra £5 billion...
View ArticleOCC says large banks should strengthen their systems and controls
Big banks must improve their governance and control systems if are serious about limiting threats to their stability, a top official at the Office of the Comptroller of the Currency told bankers. Vance...
View ArticleCanadian bitcoin bank Flexcoin shuts down after theft
Bitcoin bank Flexcoin said on Tuesday it was closing down after it lost bitcoins worth about $600,000 to a hacker attack. Flexcoin said in a message posted on its website that all 896 bitcoins stored...
View ArticleMadoff aides used 'avalanche of lies' to hide fraud -prosecutor
Five former aides of infamous swindler Bernard Madoff used an "avalanche of lies" to help him carry out his decades-long Ponzi scheme, each with a specific role to ensure that investors, auditors and...
View ArticleCompliance chief quits Deutsche Bank after pressure from German regulator
Deutsche Bank's global head of compliance, Andrew Procter, will leave to work for law firm Herbert Smith Freehills after German regulator Bafin put pressure on the bank to make changes in senior...
View ArticleU.S. freezes $458 million hidden by Nigerian ex-leader in Jersey, France
The United States has frozen more than $458 million that former Nigerian leader Sani Abacha and his conspirators obtained through corruption and hid in bank accounts around the world, the U.S. Justice...
View ArticleJapan not consider bitcoin as a currency, banking operations subject -sources
Japan's government plans to clarify how bitcoin transactions should be handled under existing laws, sources familiar with the situation said on Wednesday, following the collapse of Tokyo-based Mt. Gox,...
View ArticleCanadian police investigating after bitcoin bank Flexcoin folds
Canadian police have launched an investigation after online bitcoin bank Flexcoin, which closed its virtual doors this week, said that it had lost about $600,000 worth of the digital currency in a...
View ArticleCanadian securities regulators to amend minimum-amount, accredited-investor...
Canadian securities regulators have proposed changes to two exemptions that allow companies to raise capital without a prospectus. The most significant change would permit only non-individuals to use...
View ArticleTop banks seen meeting capital rules well before deadline
The world's top banks have already added most of the capital they need to meet new solvency rules in full, five years ahead of a 2019 deadline set by regulators, global banking supervisors said on...
View ArticleForce financial institutions to share information about cyber attacks, says...
Congress should pass legislation that requires companies to talk to law enforcement when they have been the victims of a data breach, a top official in the cyber division of the U.S. Secret Service...
View ArticleU.S. bank regulators set guidance for stress testing midsize banks
Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency have issued final guidance describing supervisory expectations for stress tests...
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