Hong Kong securities regulator publishes FATCA circular for investment...
Hong Kong's capital markets regulator recently issued a circular reminding issuers of the territory's authorised funds, investment-linked assurance schemes, unlisted structured investment products and...
View ArticleBank of England and People's Bank of China to sign MoU on London renminbi...
The Bank of England and the People's Bank of China have agreed to sign a Memorandum of Understanding on renminbi clearing and settlement in London. The MoU will be signed in London on March 31, 2014...
View ArticleEU, U.S. regulators must restore trust in derivatives regulation, departing...
The European Union and the Commodity Futures Trading Commission must work together to “restore trust” in derivatives regulation, a senior official at the European Parliament said on Wednesday. Sharon...
View ArticleBanks sue security firm Trustwave over Target breach - American Banker
Trustmark National Bank and Green Bank N.A. have sued security firm Trustwave for damages suffered from the holiday season data breach at Target Corp, accusing the company of failing to identify...
View ArticleTop Dimon aide Cavanagh leaves JPMorgan for Carlyle in "shadow banking" coup
Private equity firm Carlyle Group LP poached one of Jamie Dimon's closest aides, Michael Cavanagh, from JPMorgan Chase & Co on Tuesday, in a surprise hire that reflects both the increasing...
View ArticleThe JOBS Act at age two – prodigy or enfant terrible?
The financial services industry is still getting used to the two-year old JOBS Act, as funds gingerly begin to explore new general-solicitation freedoms and "crowdfunding" venues sort through the...
View ArticleSEC to let retail money funds maintain stable share prices
U.S. securities regulators are preparing to exempt a majority of money market mutual funds from a central plank of rules intended to curb risks in the $2.6 trillion market, the Wall Street Journal...
View ArticleU.S. banks enjoy 'too-big-to-fail' advantage -Fed study
A landmark study by Federal Reserve economists found that large U.S. banks enjoy a "too-big-to-fail" advantage in financial markets, joining a heated debate that could influence regulators that are...
View ArticleEx-Sentinel CEO found guilty over $500 million fraud
The former chief executive officer of Sentinel Management Group Inc was found guilty on Tuesday of defrauding customers out of more than $500 million before the suburban Chicago firm collapsed in...
View ArticleBitcoins are property, not currency, IRS says regarding taxes
Wading into a murky tax question for the digital age, the U.S. Internal Revenue Service said on Tuesday that bitcoins and other virtual currencies are to be treated, for tax purposes, as property and...
View ArticleEXCLUSIVE: Market operators hinder CFTC as it seeks to monitor swaps
Market operators' failure to cooperate to provide the Commodity Futures Trading Commission with adequate data is preventing the regulator from effectively monitoring the global swaps market, according...
View ArticleEXCLUSIVE: Treasury developing rule to require casinos to probe source of...
In a push to address longstanding regulatory and law enforcement concerns that casinos remain vulnerable to money laundering, the U.S. Treasury Department is developing a new rule to require that they...
View ArticleStandard Chartered FX trader Gardiner resigns - source
A senior currency dealer at Standard Chartered, who was put on leave last year as regulators investigated allegations of global currency market rigging, has resigned from the bank, a source familiar...
View ArticleOperational risk policies found inadequate at large, systemically important...
A recent peer review of sixteen major global banks found that many still lacked adequate controls and monitoring of operational risk, an area that lagged well behind the improvements made in credit and...
View ArticleMt. Gox says working with police in missing bitcoin probe
In the first confirmation of a criminal investigation at Mt. Gox, the failed Tokyo-based bitcoin exchange said on Wednesday it was working with the police "with regard to the disappearance" of bitcoins...
View ArticleU.S. blacklists informal money remitter in Afghanistan for alleged role in...
The U.S. Treasury Department on Wednesday blacklisted Afghan national Pahlawan Rozi for allegedly playing a significant role in international narcotics trafficking. Treasury's Office of Foreign Assets...
View ArticleUBS suspends four more traders in forex probe-report
UBS has suspended four more of its traders in the wake of a global investigation into collusion and manipulation by big dealers in the foreign exchange market, Bloomberg News reported on Wednesday....
View ArticleBank of America to pay $9.3 billion to settle mortgage bond claims
Bank of America agreed to pay $9.3 billion to settle claims that it sold Fannie Mae and Freddie Mac faulty mortgage bonds, helping the bank to end one of the largest legal headaches it still faced from...
View ArticleEXCLUSIVE: Bank of America, ex-CEO settle NY lawsuit in rare financial-crisis...
Kenneth Lewis, who turned Bank of America Corp into the nation's largest bank but also saddled it with enormous losses tied to mortgages, has settled a lawsuit accusing him of deceiving investors about...
View ArticleU.S. Fed bars shareholder payouts from Citi, 4 others
The Federal Reserve on Wednesday rejected Citigroup Inc's plans to buy back $6.4 billion of shares and boost dividends, saying the bank is not sufficiently prepared to handle a potential financial...
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