BREAKINGVIEWS: Wall Street watchdogs keep barking up wrong trees with insider...
Wall Street watchdogs keep barking up the wrong trees. Blown trials and an iffy investigation of billionaire Carl Icahn are coming back to bite U.S. financial regulators. Fuzzy insider trading laws are...
View ArticleFINRA fines three brokers, charges a fourth, over trade-data deficiencies
Four broker-dealers were charged with failing to provide so-called "blue sheet" data of complete and accurate information about trades performed by the firms and their customers to the Securities and...
View ArticleU.S SEC chair plots major rules for high-speed traders, dark pools
The top U.S. securities regulator said on Thursday she is developing rules targeting high-speed traders, less transparent trading venues and order-routing practices, a move designed to promote fairness...
View ArticleNew York regulator wants BNP Paribas COO Courcel out
New York's banking regulator has asked one of BNP Paribas's chief operating officers to leave as part of a settlement involving sanctions violations, according to a person familiar with the matter. BNP...
View ArticleUncertainties abound in Asia as FATCA deadline looms, seminar hears
With the U.S. Foreign Account Tax Compliance Act (FATCA) set to go live on July 1, 2014, many financial institutions will not be prepared due to starting the compliance process late or a failure by...
View ArticleBasel chief says no appetite to ditch banks' risk model
The global rules used by banks to assess how much capital they need to hold to limit risk will be simplified not scrapped in the face of criticism from the UK and U.S. over how the rules are...
View ArticleMiami men admit using check-cashing store to launder proceeds of tax refund...
Two Miami men have pleaded guilty to money laundering charges for their roles in disguising the origin of dirty money generated by a tax refund fraud scheme, federal prosecutors announced Thursday....
View ArticleBank of America in talks to pay at least $12 billion to settle probes into...
Bank of America Corp. is in talks with the Justice Department and state regulators to pay at least $12 billion to settle civil probes into its alleged handling of shoddy mortgages, the Wall Street...
View ArticleOhio broker who used clients' credit card perks is barred by FINRA
A bank branch-based broker for a unit of JP Morgan JPM.N has been permanently barred from the securities industry for using a customer's credit card reward points for his own personal accounts,...
View ArticleBeware the 'risk of risk management,' warns Deutsche Bank's supervisory board...
Front-line bankers need to rediscover their individual responsibility for managing the risks of the deals they do, and not leave it to "those guys in the back office', according to Deutsche Bank's...
View ArticleColorado governor signs law creating state-run marijuana banking co-ops
Colorado's governor signed into law on Friday a measure to create the nation's first state-run marijuana financial cooperative, potentially giving newly legalized cannabis vendors access to banking...
View ArticleSEC charges Liquidnet, Wedbush in crackdown on violations of market-structure...
U.S. securities regulators filed civil lawsuits on Friday against a "dark pool" trading venue and a major brokerage firm as part of a crackdown on market structure rule violations. In the first case,...
View ArticleTwo ex-BDO vice-chairmen get prison for U.S. tax shelter scheme
Two former vice chairmen of accounting firm BDO Seidman were sentenced to prison on Monday after pleading guilty to engaging in a conspiracy to defraud the United States through the promotion of tax...
View ArticleEx-sTec CEO cleared of insider trading charge in big loss for SEC
A federal jury has found the former chief executive of sTec Inc not liable for trading on inside information, a major loss for the U.S. Securities and Exchange Commission. Manouchehr Moshayedi, 55, a...
View ArticleU.S. Senate panel to probe high-speed trading, broker conflicts
A U.S. Senate investigative panel said on Monday it plans to hold a hearing next week to probe the role that high-speed trading plays in the markets and whether it is harming investor confidence. The...
View ArticleBank directors should have broader fiduciary duties, Fed's Tarullo says
Making bank directors responsible for regulatory goals as part of their fiduciary duties could help make the financial system safer, a top U.S. bank regulator said on Monday. Expanding the fiduciary...
View ArticleFINRA should increase its penalties, make more rules preventive, SEC's Stein...
The Financial Industry Regulatory Authority, the broker-dealer–funded markets monitor, should strengthen its sanction guidelines, especially for second- and third-time offenders, Commissioner Kara M....
View ArticleU.S. wins first guilty plea from individual in Libor probe
A former Rabobank NV trader pleaded guilty on Tuesday for his role in manipulating Libor, becoming the first person to admit guilt in a worldwide probe into alleged manipulation of interest rate...
View ArticleGreater financial regulation is new normal, says ratings agency official
The Dodd-Frank Wall Street Reform and Consumer Protection Act has still only been partially implemented, and regulatory scrutiny of the financial sector was likely to increase in the near term, said a...
View ArticleEx-TheStreet editor settles SEC insider trading case
A former senior editor at TheStreet Inc has agreed to pay $10,225 to resolve claims he participated in an insider trading ring involving a group of high school friends, the U.S. Securities and Exchange...
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