BNY Mellon, Virginia make deal on currency trades claim
Bank of New York Mellon Corp agreed to a deal with Virginia over allegations it overcharged the state pensions plans for currency trades, according to public records and sources. The terms of the deal...
View ArticleJPMorgan reaches deal with SEC staff on two mortgage probes
JPMorgan Chase & Co has reached an agreement in principle with the staff of the U.S. Securities and Exchange Commission to resolve two previously disclosed investigations related to mortgage-backed...
View ArticleSingapore in talks with US on FATCA
Singapore said on Friday it is in talks with the U.S. Treasury to reach an intergovernmental agreement on the Foreign Account Tax Compliance Act. "This is in line with Singapore's role as a responsible...
View ArticleSaudi Arabia says unaware of U.S. probe into license granted to Barclays
Saudi Arabia's market regulator said it was not aware of any investigation into a licence it granted British bank Barclays three years ago, after a report that U.S. authorities are probing whether...
View ArticleUK's SFO expecting major developments in Libor probe
Britain's Serious Fraud Office said on Friday it expected significant developments in its investigations into the rigging of Libor interest rates in the near future. The government department said in...
View ArticleEx-Goldman trader accused of $118 million loss denies fraud
A lawyer for a former Goldman Sachs Group Inc trader denied on Friday U.S. civil accusations that his client had defrauded the Wall Street bank of $118 million. The trader, Matthew Marshall Taylor, was...
View ArticleU.S. SEC denies request to delay transparency rule
U.S. securities regulators denied a request to delay new rules that will require oil, gas and mining companies to disclose payments to foreign governments, after business groups also sued to force...
View ArticleKnight says U.S. SEC issued formal order of investigation
Regulators are formally investigating the Aug. 1 software glitch at Knight Capital Group that cost the trading firm over $460 million and forced it to take on new investors to stay afloat, according to...
View ArticleFederal prosecutors in New York charge two hedge-fund managers with...
Manhattan federal prosecutors on Friday separately charged two investment advisers with defrauding and stealing from investors in the hedge funds they managed. Berton Hochfeld, manager of Hochfeld...
View ArticleMoneyGram admits anti-laundering lapses, agrees to $100 million forfeiture in...
Dallas-based wire-transfer giant MoneyGram International Inc has agreed to forfeit $100 million to the Justice Department in a case that reflects federal prosecutors' new appetite for aggressively...
View ArticleDelay seen in implementing U.S. bank capital rules
U.S. banking regulators do not expect proposed rules requiring financial institutions to hold more capital to take effect on Jan. 1, as regulators work through a flood of industry comments on the...
View ArticleU.S. broker-dealers scrutinized for anti-laundering compliance in Venezuelan...
Securities industry regulators are beginning to ask U.S. broker-dealers tough questions about how they are mitigating money laundering and sanctions risks associated with their involvement in a...
View ArticleChina won't postpone Basel III implementation -report
China will not postpone implementation of tougher global bank capital rules despite a delay in compliance by U.S. banks, the official Shanghai Securities News reported on Tuesday, citing unidentified...
View ArticleU.S. regulator calls for do-over on cross-border swaps plan
A top U.S. futures regulator is calling on his colleagues to scrap plans to release informal guidance that would expand the reach of new over-the-counter derivatives rules globally, saying the draft...
View ArticleLongtime head of financial planning group NAPFA to step down, champion of...
The longtime head of the National Association of Personal Financial Advisors (NAPFA) will step down in August of next year, the organization announced Monday. Ellen Turf, NAPFA's chief executive, is...
View ArticleHSBC settles with investor over Madoff loss
Banking group HSBC has settled a case brought by a fund over losses it suffered during the collapse of fraudster Bernie Madoff's financial empire, potentially paving the way for more claims against...
View ArticleGoldman, Deutsche Bank fail to end U.S. mortgage lawsuits
A U.S. judge rejected bids by Goldman Sachs Group Inc and Deutsche Bank AG to dismiss a federal regulator's lawsuits accusing them of misleading Fannie Mae and Freddie Mac into buying billions of...
View ArticleU.S. clearing house looks to intervene in CME compliance row
The Depository Trust and Clearing Corp (DTCC), a U.S. clearing house, sought to intervene Monday in a lawsuit by the CME Group that would allow the exchange operator to avoid making changes to comply...
View ArticleAnti-laundering officers and regulatory official call for U.S. guidance on...
Anti-money laundering officers and a top official with a federal banking regulator on Monday called on the U.S. Treasury and Justice departments to clarify for banks whether they can provide services...
View ArticleU.S. Treasury to lead review of anti-money laundering rules
The Obama administration will review a sprawling net of anti-money laundering rules and seek to correct "gaps, redundancies or inefficiencies," in the U.S. system now more than 40 years old, the...
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