U.S. House OKs bill to exempt some securities from Volcker rule
The U.S. House of Representatives approved a bill on Tuesday that would scale back the Volcker rule to exempt a type of securities that banks want to keep on their books. The Volcker rule, named for...
View ArticleU.S. regulator says some banks still 'too big to manage'
A top U.S. federal regulator said on Tuesday that it's going to "take a lot of work" before officials can be confident that Wall Street banks are not too complex to manage. Comptroller of the Currency...
View ArticleU.S. Treasury chief defends guidance given banks on marijuana shops
U.S. Treasury Secretary Jack Lew on Tuesday defended the Obama administration's decision to let banks do business with marijuana dealers in states that have legalized the drug, insisting to lawmakers...
View ArticleMarkets are "not rigged," U.S. SEC chair tells Congress
U.S. Securities and Exchange Commission Chair Mary Jo White flatly rejected claims that retail investors are being fleeced by high-frequency traders who can use their speed to jump ahead with buy and...
View ArticleFocus on bad bankers, not just their banks, New York's Lawsky says
Banks don't do bad things – people do – so the people behind the alleged violations should face more regulatory scrutiny and personal accountability, Benjamin Lawsky, Superintendent of the New York...
View ArticleU.S. bank regulator OCC seeks to hold individuals responsible for AML...
Holding individuals responsible for compliance breakdowns is one way the Office of the Comptroller of the Currency wants to get firms to fix deficiencies in their AML compliance programs, Thomas Curry,...
View ArticleU.S. FBI creating unit to trace corrupt foreign assets
The U.S. FBI will create a unit to help trace the assets of corrupt foreign leaders, to complement an existing group of prosecutors focused on the issue, Attorney General Eric Holder said on Tuesday....
View ArticleISDA swaps body appoints ICE to run ISDAFIX
The International Swaps and Derivatives Association said on Wednesday it has selected ICE Benchmark Administration (IBA) to run its ISDAFIX benchmark, which is being investigated over alleged rigging....
View ArticleNew York state joins with Visa, MasterCard to curb payday lending
New York state's main banking regulator said on Wednesday it had teamed up with card payment companies Visa Inc V.N and MasterCard Inc to curb illegal payday loans through debit card transactions. The...
View ArticleFannie Mae, Freddie Mac may need $190 billion in big downturn - regulator
U.S. mortgage financiers Fannie Mae and Freddie Mac may require as much as $190 billion in additional taxpayer aid if the economy suffers a severe downturn, their regulator said on Wednesday. The...
View ArticleSEC charges Utah-based retirement fund with fraud, freezes assets
U.S. securities regulators have charged a Utah-based retirement fund and its CEO with defrauding investors of millions of dollars and froze the fund's assets. The U.S. Securities and Exchange...
View ArticleMore accounting fraud cases coming down the pike, says SEC enforcement chief
The Securities and Exchange Commission's is using its special fraud unit to bring more cases of accounting fraud, the agency's enforcement chief said. "We have increased our focus on accounting fraud...
View ArticleAdviser's fiduciary duty comes before filial ties, SEC shows in enforcement...
The Securities and Exchange Commission on Wednesday sanctioned the owner and chief compliance officer of a Cleveland-area–based investment adviser for covering up his son's theft of advisory funds. The...
View ArticleFed’s bank guidance on collateralized loan instruments reigns despite U.S....
While the U.S. House of Representatives has provided the industry with some glimmer of hope on the treatment of collateralized loan obligations under the Volcker rule, the Federal Reserve’s less...
View ArticleU.S. SEC probing private equity fund fee disclosures
The U.S. Securities and Exchange Commission (SEC) is investigating whether private equity fund advisers are illegally charging fees that are not disclosed to investors, the agency's top enforcement...
View ArticleCampaigners question whether Ukraine has 'capacity' to recoup plundered billions
Campaigners have queried whether the Ukraine has the "capacity" to deal with recouping the billions of dollars alleged to have been stolen from the country by its former president and associates. The...
View ArticleCME seeks to ease high-speed trading concerns
CME Group Inc sought on Thursday to calm investors' concerns about its exposure to possible U.S. regulations targeting high-frequency trading after the world's largest futures market operator reported...
View ArticleEXCLUSIVE: New York law chief eyes exchanges in high-frequency probe
The New York Attorney General's office is seeking information from exchanges and alternative trading platforms about their relationships with high frequency trading firms, as part of its probe into...
View ArticleU.S. sets timeline for trading packaged swaps on platforms
The U.S. Commodity Futures Trading Commission said on Thursday a complex type of swaps known as "package transaction" must be traded on regulated platforms in the coming months, pursuant to a phased...
View ArticleNew York Stock Exchange to pay $4.5 million to settle SEC charges over...
U.S. securities regulators charged the New York Stock Exchange on Thursday with flouting its own rules, marking the second case against the exchange operator as part of a sweeping crackdown in the...
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