EX-BDO partner gets 3 months in prison for tax shelter scheme
A former partner at accounting firm BDO Seidman was sentenced to three months in prison Tuesday after admitting to participating in a massive tax shelter scheme that defrauded the U.S. government....
View ArticleU.S. CFTC says agrees in principle to settle Arcadia oil-manipulation case
The U.S. Commodity Futures Trading Commission has reached an agreement in principle to settle its oil manipulation case against Arcadia Petroleum and Parnon Energy, taking a step closer to ending a...
View ArticleU.S. SEC official urges broader cyber-attack disclosure
Public companies that are victims of cyber attacks should consider disclosing additional information beyond what's required to help protect customers whose private data could be at risk, a top U.S....
View ArticleCFTC ‘tired’ of exemptions for cross-border conflicts
Derivatives clearing firms caught in the crossfire between U.S. and European regulations should move their businesses to avoid jurisdictional conflicts rather than ask for regulatory relief, an...
View ArticleU.S. swaps regulator CFTC names ex-prosecutor as enforcement head
The U.S. derivatives regulator on Tuesday named a former federal prosecutor and experienced trial lawyer as its new enforcement head, a rapid hire only days after the agency's new chairman started his...
View ArticleU.S. regulators struggling to retain talented staff as private sector...
The notion of a revolving door between regulators and the banks they supervise has led critics in the past to argue that financial institutions have benefited from former employees in key positions who...
View ArticleTransatlantic tussle over cross-border clearing of U.S. futures goes public...
A senior staff member of the Commodity Futures Trading Commission has said a transatlantic legal conflict could be solved by moving the clearing of U.S. futures contracts currently done in London to...
View ArticleIOSCO seeks to reduce reliance on credit rating agencies in consultation paper
In an effort to translate the principles for reducing reliance on credit rating agencies set forth by the Financial Stability Board (FSB) in 2010 into policy action, the International Organization of...
View ArticleDollar operations threat to BNP is a global danger -French central bank's Noyer
The threat that French bank BNP Paribas could be suspended from clearing clients' dollar transactions could be disruptive to the international financial system, the head of the French central bank said...
View ArticleCross-border OTC trading: regulators show mutual bewilderment across the...
A senior staff member of the Commodity Futures Trading Commission has described himself as "baffled" by "negative comment" about the CFTC's "positive steps" towards cross-border regulation of...
View ArticleOECD recommends Canada tighten mortgage insurance further
The Organization for Economic Co-operation and Development endorsed the Bank of Canada's accommodative monetary policy on Wednesday but recommended that Canadian authorities tighten mortgage insurance...
View ArticleRoutine exam goes bad for sticky-fingered investment firm owner, SEC says
A routine examination of a Chicago-area investment adviser became an enforcement action after examiners found that the firm's owner had defrauded some clients in a real estate investment offering, the...
View ArticleU.S. consumer watchdog launches mobile banking inquiry
The U.S. Consumer Financial Protection Bureau on Wednesday launched an inquiry into banking over mobile phones, looking for comments on both the risks and the upsides of the rapidly spreading...
View ArticleLimits on arbitrators with Wall St. ties to go to the SEC
Wall Street's self-regulator will ask the U.S. Securities and Exchange Commission next week to review a plan that would restrict industry veterans from acting as arbitrators in many disputes between...
View ArticleBanks are not getting much use out of U.S. stress tests - survey
The U.S. Federal Reserve wants banks to get something out of their annual stress tests beyond just ticking the box of regulatory compliance, but few banks actually do, according to a survey to be...
View ArticleGoldman, Bain to pay $121 million in LBO collusion settlement
Goldman Sachs Group Inc will pay $67 million and Bain Capital Partners LLC will pay $54 million to settle their portions of a lawsuit accusing several big private equity firms of conspiring not to...
View ArticleSEC advises investors to background-check financial pros; firms should do due...
The Securities and Exchange Commission on Wednesday urged investors to do background checks on their financial professionals, which makes it a good time for broker-dealers and investment advisers to...
View ArticleU.S. SEC to file some insider-trading cases as administrative proceedings,...
The U.S. Securities and Exchange Commission expects to start filing some insider-trading cases in an in-house court rather than federal court, dismissing concerns by defense lawyers that this shift...
View ArticleSEC faces challenges before fast-trading reforms can go on the books
The Securities and Exchange Commission has rolled out its intentions to regulate high-frequency trading, making stricter regulation in some form a strong possibility, but the agency faces more work and...
View ArticleAccused Spanish drug lord convicted in Miami for drug money laundering
The head of a transatlantic cocaine smuggling ring dubbed “Los Miami” has been convicted of laundering more than $26 million in the United States through multimillion-dollar waterfront condos and...
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