Hopes for a less aggressively extraterritorial CFTC post-Gensler
The Commodity Futures Trading Commission's acting chairman, Mark Wetjen, has "a very positive attitude" to global regulatory cooperation, a senior U.S. derivatives lawyer told derivatives professionals...
View ArticleBillionaire Russian gas trader says U.S. sanctions an inconvenience, but an...
Gennady Timchenko, the billionaire Russian gas trader hit with U.S. sanctions over his alleged ties with the Kremlin following Russia's annexation of Crimea, said being singled out by Washington was a...
View ArticleMexico prepares first illegal-drug financing blacklist
Mexico is preparing to implement new regulations that will allow the government to identify individuals and businesses linked to drug trafficking and ban financial firms from doing business with them,...
View ArticleDerivatives industry lawyer Scalia challenges CFTC on cross-border rules
Eugene Scalia, the high-profile lawyer the financial industry has hired to challenge the CFTC over its guidance for cross-border derivatives transactions, accused the agency of using "boilerplate...
View ArticleLong-awaited customer due diligence AML rule under review by White House
A proposed rule aimed at requiring banks, broker-dealers and others to do more to determine who is behind accounts belonging to corporations and other legal entities cleared the Treasury Department's...
View ArticleHedge funds pose biggest risks in crises, U.S. Federal Reserve study says
Hedge funds, not banks, may be the most important transmitters of shocks during financial crises, according a study published Monday by the Federal Reserve Bank of San Francisco. The finding suggests...
View ArticlePEPwatch: Austria investigates Ukrainians for money laundering
Vienna prosecutors are investigating several people close to the ousted Ukrainian government on suspicion of money laundering and sanctions violations, Austrian law enforcement officials said. The...
View ArticleFINRA lifts hold on Puerto Rico bond case, expands arbitrator pool
Wall Street watchdog FINRA said on Monday it is lifting the hold it had put on some cases involving investors who lost money in closed-end Puerto Rico bond funds after expanding its pool of arbitrators...
View ArticleBitcoin promoter Schrem indicted in New York for money laundering
Prominent bitcoin entrepreneur Charlie Shrem has been indicted by a federal grand jury in New York on charges of funneling cash to the illicit online marketplace Silk Road. Shrem, known as one of the...
View ArticleCanadian regulator issues new guidelines on mortgage insurance risk
Canada's financial regulator issued draft guidelines on Monday for mortgage insurers to reduce risk in the housing market, a move analysts said could make it slightly harder for home buyers to get a...
View ArticleCanada imposes additional sanctions on Ukranian, Russian entities
The Government of Canada has imposed an asset freeze on designated persons and entities related to Ukraine and Russia, including Russian financial institution Bank Rossiya, a Crimean oil and gas...
View ArticleU.S. appeals court finds conflict-mineral rule violates free speech
A U.S. appeals court on Monday struck down parts of a regulation that forces public companies to disclose if their products contain "conflict minerals" from a war-torn part of Africa, saying it...
View ArticleNew York broker-dealer executives charged in Venezuelan bribery case
Two former executives of a defunct New York broker-dealer were indicted Monday as part of a widening U.S. investigation into foreign bribery involving their employer and Venezuelan state economic...
View ArticleMexico bank regulator, Citigroup report second fraud at Banamex
Citigroup and Mexico's bank regulator on Monday said they uncovered a second fraud at Citi's local unit Banamex, as part of a wider investigation following the discovery in February of fraudulent loans...
View ArticleLloyds' FX chief leaves bank - market sources
Lloyds Bank's global head of foreign exchange spot trading has left the bank, citing personal reasons unrelated to the global investigation into currency market manipulation, sources with direct...
View ArticleRegulators ease rule curbing banks' exposures to customers
Global regulators have eased a new rule limiting how much business a bank can undertake with a single customer, as they try to minimise the risk of fallout from a counterparty going bust without...
View ArticleNew York regulator subpoenas Credit Suisse in tax probe
New York state's top financial regulator has ordered Credit Suisse CSGN.VX to turn in the employment records of its former New York head as part of a widening investigation into potential tax evasion...
View ArticleRisk-based approach welcomed, but cannot prevent money laundering, says IMF
The International Monetary Fund (IMF) has welcomed the Financial Action Task Force's (FATF) shift towards a more risk-based assessment of money laundering, but has acknowledged that this cannot predict...
View ArticleLying to the SEC nets inside trading tippee 18-months sentence
A San Francisco federal judge on Tuesday sentenced Karim Iskander Bayyouk, an insider trading tip recipient who traded on material nonpublic information and also tipped his brother, to 18 months in...
View ArticleS&P fails to split up $5 billion U.S. fraud lawsuit
A federal judge on Tuesday rejected a request by Standard & Poor's to split up the U.S. government's $5 billion lawsuit accusing it of lying about its credit ratings, paving the way for a single...
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