Globlal regulatory body's chief urges more individual accountability for...
Global regulators need to go after individuals found guilty circumventing the law in financial services, and when appropriate, sanctions should include jail time, David Wright, secretary general of the...
View ArticleEx-MoneyGram compliance chief suspended from current job as U.S. fine looms;...
As former MoneyGram International Inc chief compliance officer Thomas Haider last week prepared to defend himself against a possible multi-million dollar fine over his role in the money transfer firm's...
View ArticleUPDATE - EXCLUSIVE: U.S. money laundering crackdown set back by hiring freeze...
A U.S. crackdown on money laundering has been dealt a setback after the Treasury Department froze all recruitment by its anti-money laundering arm and forced the agency to rescind 11 job offers in the...
View ArticleWall Street watchdog FINRA revamps plan for broker disclosure link
Wall Street's industry-funded watchdog is asking for public input on a retooled plan designed to make it easier for investors to research the backgrounds of brokerage firms and brokers. The Financial...
View ArticleReuters Summit: Regulators lack data to probe shadow banking sector
Shining a light on the murky $70 trillion world of "shadow banking" is proving tricky for regulators handicapped by too little data and under pressure to boost economic growth, and this means risks may...
View ArticleSwiss minister to meet U.S. attorney general on tax probes as pressure builds...
Switzerland's finance minister was set to meet Eric Holder, the U.S. attorney general, in Washington on Friday to discuss a tax-evasion probe into Swiss banks by U.S. authorities, a Swiss ministry...
View ArticleTaiwan to file suit against short-seller Glaucus Research
Taiwan's financial regulator said on Monday it will file a suit against California-based Glaucus Research Group over "maliciously spreading rumors" against Asia Plastic, its first such move against a...
View ArticleSEC probes hedge funds' bets on Herbalife
The U.S. Securities and Exchange Commission (SEC) is probing whether a number of hedge funds may have acted improperly when they made bets on nutrition and weight loss company Herbalife Ltd HLF.N last...
View ArticleNon-U.S. banks get transition period on FATCA tax law
The U.S. Treasury Department said on Friday that the Internal Revenue Service (IRS) this year and next will take into account "good faith efforts" by foreign banks to comply with a new U.S. anti-tax...
View ArticleSEC approves FINRA rule to limit wash sales, no effective date set yet
The Securities and Exchange Commission has approved a change to a Financial Industry Regulatory Authority rule to limit self-trading, or inadvertent wash sales, FINRA announced on Friday. An effective...
View ArticleEXCLUSIVE: Global anti-money laundering group moves meeting from Moscow
An international organization that sets standards for how countries combat money laundering said it has decided not to hold a planned meeting in Moscow next month due to the continuing Ukraine crisis....
View ArticleToronto consultant settles U.S. SEC charges over Chinese mergers
A Toronto consultant has agreed to pay $6.22 million (C$6.81 million) to settle U.S. regulatory charges that he helped bring two Chinese companies into U.S. markets through so-called reverse mergers so...
View ArticleU.S., Singapore reach FATCA agreement on tax evasion
Singapore has reached a tax information-sharing agreement with the United States under a new law meant to combat offshore tax dodging by Americans, a U.S. Treasury Department spokeswoman said on...
View ArticleEXCLUSIVE: Payday lender subpoenaed in U.S. criminal probe
A U.S. grand jury has subpoenaed a company that a federal regulator has said is at the center of a deceptive payday lending scheme, a source familiar with the matter said. AMG Services Inc was...
View ArticleAdviser, CCO played a "shell game" with client funds, SEC says
A Columbus, Ohio federal judge has issued a temporary restraining order and imposed a freeze to protect the assets of the clients of a local investment adviser, the Securities and Exchange Commission...
View ArticleCredit Suisse in talks on $1.6 billion resolution of U.S. tax probe;...
Credit Suisse Group AG is in talks with the U.S. Justice Department to pay as much as $1.6 billion to resolve an investigation into the bank's role in helping Americans evade U.S. taxes, a person...
View ArticleU.S. attorney general says banks may face criminal cases soon
The U.S. Justice Department is pursuing criminal investigations of financial institutions that could result in action in the coming weeks and months, U.S. Attorney General Eric Holder said in a video,...
View ArticleSenator Grassley seeks action on FinCEN hiring probe
Senator Chuck Grassley is taking steps to make sure federal authorities are probing hiring practices of the Treasury Department's anti-money laundering arm, FinCEN, after the division was caught...
View ArticleSwitzerland, Singapore join clampdown on bank secrecy
Switzerland and Singapore joined on Tuesday the growing ranks of countries agreeing to share tax information in a major breakthrough against bank secrecy, the OECD said. Under the pledge signed by a...
View ArticleU.S. SEC expands probe into top banks' hiring in Asia -WSJ
A U.S. regulator has expanded its probe into major banks' hiring practices in Asia and sent letters to at least five U.S. and European banks in early March seeking more information, the Wall Street...
View Article