Canadian regulators propose reduced disclosure requirements for smaller issuers
Smaller public companies in Canada may soon benefit from relaxed disclosure requirements. The Canadian Securities Administrators (CSA), the country's securities standard-setter, recently proposed...
View ArticleU.S. Fed hires official to oversee AIG, Prudential
The U.S. Federal Reserve has hired a former state insurance commissioner to help it oversee non-bank financial firms that a council of regulators identified for tougher scrutiny last year. Thomas...
View ArticleReport sheds light on activity in U.S. dark pool trading
"Dark pools" owned by five big banks account for around half of all trades on alternative trading systems, exchange-like trading platforms that critics blame for making the markets less transparent,...
View ArticleSEC warning on investment newsletters may help brokers avoid stock fraud schemes
In a throwback to the days before Internet-based scams, the U.S. Securities and Exchange Commission issued a warning on Monday over the potential for fraud posed by some investment newsletters. The...
View ArticleExclusive: U.S. lawmakers probe hiring at Treasury's AML unit, will object to...
Two powerful congressmen have opened separate inquiries into whether a Department of the Treasury bureau charged with policing money laundering may have flouted federal hiring rules, including...
View ArticleUPDATE: France says mooted BNP Paribas' $10 billion fine 'unreasonable'
France stepped up its protests to the United States on Tuesday over a possible $10 billion-plus sanctions busting fine for its biggest bank BNP Paribas, saying such a move could hurt transatlantic...
View ArticleRisk, regulation and rehabilitation: global bankers meet to gauge progress
How far banks are along the path to rehabilitation will be thrown into sharp focus this week when politicians, central bankers and bank bosses gather in London - Europe's finance capital and also the...
View ArticleU.S. Senate confirms Massad as CFTC chairman
The U.S. Senate on Tuesday confirmed Timothy Massad as the new chairman of the U.S. Commodity Futures Trading Commission and approved two others as commissioners, filling a leadership gap at the...
View ArticleU.S. SEC says ex-broker bilked investors after losing license
A former stockbroker stole nearly $3 million from clients of an investment advisory firm he set up after being run out of the securities industry for lying to customers, the U.S. Securities and...
View ArticleFrance's Hollande plans to broach BNP fine with Obama
French President Francois Hollande plans to raise concerns about a possible $10 billion-plus U.S. fine on BNP Paribas that he considers disproportionate with U.S. counterpart Barack Obama. The U.S...
View ArticleDark-pool, speed-trading debate at CFTC panel focuses on new rules vs....
The U.S. futures regulator CFTC should force dark pools to disclose information about customers' orders and ban the fees that exchanges pay some brokers to execute their orders, a critic of the dark...
View ArticleGovernments need to share more intelligence with firms to fight financial...
Rooting-out those who abuse the global financial system depends on high-quality intelligence, but governments often withhold just such information from banks and other financial institutions charged...
View ArticleU.S. appeals court voids judge's rejection of SEC-Citigroup accord
A federal appeals court on Wednesday handed the U.S. Securities and Exchange Commission a big victory by voiding a judge's pathbreaking decision to reject the regulator's $285 million fraud settlement...
View ArticleGerman financier, indicted in U.S. for fraud, is freed in Italy
Hedge fund manager Florian Homm, arrested in Italy last year on U.S. fraud charges but still to face trial, has been released because the statutory limit for keeping him in prison expired, his lawyer...
View ArticleBermuda-based trader faces New Jersey trial over ConvergEx fraud
New Jersey federal prosecutors have charged Craig Marshall, a Bermuda resident and former trader for ConvergEx Global Markets Limited, with conspiracy to commit wire fraud, the U.S. Department of...
View ArticleCanadian investment regulator launches transparency, suitability phase of...
The Investment Industry Regulatory Organization of Canada (IIROC) has begun implementing the second and final phase of its Client Relationship Model (CRM II) initiative. Over the next three years, CRM...
View ArticleON THE MOVE: Wells Fargo compliance executive takes on expanded role
Wells Fargo & Co has promoted the compliance head of its brokerage unit to become chief compliance officer of a larger unit that integrates brokerage, wealth management and retirement savings...
View ArticlePair of U.S. senators urges disclosure on bond markups
Municipal and corporate bond dealers would have to tell investors how much they charge to cover their compensation under bipartisan legislation currently in the U.S. Senate to end secret price markups....
View ArticleU.S. bank regulators launch once-a-decade rules checkup
The three main U.S. bank regulators embarked on a once-a-decade check-up of their rules, asking the industry to comment on whether they are outdated or unduly burdensome. The review is required by a...
View ArticleNew York attorney general takes deep dive into 'dark pools'
The New York Attorney General's sweeping investigation into the U.S. stock market will include whether trading centers known as "dark pools" are conducting themselves properly, an official said on...
View Article