Obama's bank comments not a signal of new rules, White House says
President Barack Obama's recent comments on the need for more bank regulation were intended to underscore the need to keep close watch over market risks rather than to signal a new policy initiative, a...
View ArticleFATF updates list of deficient AML states and releases virtual currency guide
The Financial Action Task Force (FATF) has updated its list of countries with strategic compliance deficiencies and has also published a report on the AML risks of virtual currencies and confirmed that...
View ArticleSEC sanctions adviser, suspends owner over fibs in seeking fund contract...
The Securities and Exchange Commission has sanctioned an investment adviser and its owner for repeatedly misrepresenting the firm's algorithmic trading capabilities in seeking contract approval from...
View ArticleTop banks face wait for detail of new buffer to protect against bailouts
Details of a new buffer of bonds to shield taxpayers from having to rescue a big bank won't become clear for at least a year or more, a global banking regulator said on Monday. Lenders like Goldman...
View ArticleNYSE, asset managers call for lowering "access" fees
The New York Stock Exchange and two prominent asset managers will call for reforms on Tuesday to lower the cap on fees exchanges can charge brokers to enter the market, according to prepared testimony...
View ArticleCanada shows 'early warning signs' of potential banking crisis, international...
Canada's financial system is showing "early warning indicators" that could signal a potential banking crisis, according to the international organisation that coordinates central banks. A recent report...
View ArticleU.S. in settlement talks with Commerzbank and Deutsche over blacklist dealings
U.S. authorities have begun settlement talks with Germany's Commerzbank and Deutsche Bank over their dealings with countries blacklisted by the United States, extending a crackdown on European banks at...
View ArticleEx-JPMorgan trader to challenge UK regulator over London Whale decision
A former JPMorgan trader charged in the United States over his alleged role in the $6.2 billion "London Whale" trading scandal has won the right to a legal challenge of the British regulator's decision...
View ArticleFACTBOX: Fines on European banks for U.S. sanctions breaches
U.S. authorities have imposed penalties on at least 10 European banks and financial firms for violating U.S. sanctions in regard to countries including Iran, Sudan and Cuba. Following is a summary of...
View ArticleG20 must focus on "too big to fail" problem, says host nation
Australia will use its G20 summit in Brisbane in November to push for the completion of the post-crisis global regulatory reform agenda, including the need to solve the issue of financial institutions...
View ArticleFSB to back London forex fix, recommend detailed changes -sources
The world's top financial regulator is set to issue a consultation paper to banks making detailed proposals for changes to the way foreign exchange "fixings" are conducted, banking sources said on...
View ArticleEx-Carter's executives, NY fund manager get prison for insider trading
Two former executives at Carter's Inc and a New York hedge fund manager received prison sentences on Tuesday for engaging in an insider trading conspiracy involving the children's clothing company's...
View ArticleMore provinces join push for Canada securities regulator
Two more provinces, Saskatchewan and New Brunswick, signed up on Wednesday for a plan to create a national securities regulator in Canada, joining Ontario, British Columbia and the federal government...
View ArticleU.S. exchange head urges reforms to rein in equity-market fragmentation
The head of the biggest U.S. stock exchange urged regulators to bring more order to fragmented U.S. equity markets. Jeff Sprecher, founder and chief executive of Intercontinental Exchange, Inc., the...
View ArticleFINRA launches exams into Wall Street order-routing practices
Wall Street's self-regulator FINRA said on Tuesday it is conducting examinations of 10 firms to ensure they are in compliance with regulations requiring that investors receive the best execution for...
View ArticleRengan Rajaratnam cleared; U.S. insider-trading win streak snapped
Rengan Rajaratnam, the younger brother of convicted Galleon Group founder Raj Rajaratnam, was cleared on Tuesday of conspiring to engage in insider trading while at the hedge fund, ending a five-year...
View ArticleCitigroup may pay $7 billion to resolve U.S. mortgage probes, source says
Citigroup Inc is close to paying about $7 billion to resolve a U.S. probe into whether it defrauded investors on billions of dollars worth of mortgage securities in the run-up to the financial crisis,...
View ArticleEXCLUSIVE: New U.S. anti-money laundering tactic follows trail from criminal...
U.S. prosecutors are employing a new tactic to punish banks that shirk their legal duties to fight money laundering: asking suspects in a wide range of criminal cases to help them follow the money back...
View ArticleState Street settles for $70 million shareholder, employee suits on forex, MBSs
State Street Corp has reached $70 million in settlements to end three lawsuits claiming it inflated its share price by overcharging clients on foreign exchange services and falsely representing that...
View ArticleInvestors penalize banks for inadequate risk disclosure: study
Investors assign a risk premium to bank equity and debt in response to the limited transparency of bank financial statements. A recent study by the CFA Institute, a global investment industry...
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