Money market pioneer Bent cleared of SEC fraud charges; son, units found liable
Money market pioneer Bruce Bent was cleared on Monday of civil fraud charges that he misled investors in the early days of the 2008 financial meltdown, in one of the rare trials of a Wall Street leader...
View ArticleNew U.S. review of anti-money laundering rules to include input from banks
Top banks, including Bank of America, will be part of a new government-led review of U.S. money-laundering rules, a top Treasury Department official said on Tuesday. A group co-led by the director of...
View ArticleMellon's Ivy unit in $210 million settlement over advice on Madoff
Ivy Asset Management agreed to pay $210 million to settle lawsuits for advising clients to invest with Ponzi schemer Bernard Madoff, the New York attorney general said on Tuesday. The New York-based...
View ArticleCME gets more time in U.S. compliance spat with regulator
U.S. exchange operator CME Group has been granted more time to report trading data by the Commodity Futures Trading Commission after it sued the regulator in a spat over compliance that has split the...
View ArticleLawyer faces long prison stretch for obstructing SEC probe of suspected...
Los Angeles federal judge Philip Gutierrez on Tuesday found a former partner in two prestigious law firms guilty of obstructing a Securities and Exchange Commission investigation into an alleged Ponzi...
View ArticleNew body must help U.S. markets prep for storms - CFTC's Chilton
A top U.S. regulator called for the creation of a new body that could prevent a repeat of the confusion that reigned in capital markets when Superstorm Sandy caused widespread damage to New York and...
View Article'Fight Club' of corrupt analysts cited at hedge-fund insider trial
Two former hedge fund managers reaped a total of $70.8 million in illegal profits by tapping a "corrupt network" of Wall Street analysts, a U.S. prosecutor said at the start of an insider trading trial...
View ArticleU.S. council of regulators outlines reform options for money-market funds,...
The council of regulators responsible for overseeing the stability of the U.S. financial system proposed potential reforms on Tuesday to the money-market industry as it acted to overcome a stalemate at...
View ArticleUK has seized jurisdiction over U.S. in important insurance case, says lawyer
The UK has seized jurisdiction over the United States in an important insurance case which has cast doubt over whether the two countries will ever agree, an insurance lawyer has said. There have been...
View ArticleU.S. regulators cut JPMorgan's ability to trade power
U.S. federal regulators temporarily banned JPMorgan Chase & Co's energy-trading arm from a segment of the domestic power market, the first time such a penalty has been imposed for making factual...
View ArticleDodd-Frank co-author defends Act, urges Wall Street to reconnect to...
“The election is over, [the] Dodd-Frank Act is not going to be repealed,” said retired U.S. Senator Christopher Dodd, former chairman of the Senate Banking Committee and co-author of the 2010 U.S....
View ArticleU.S. regulators say listening to small banks' Basel concerns
U.S. bank regulators sought to reassure lawmakers on Wednesday that they will incorporate community banks' concerns as regulators finish up new rules requiring financial firms to hold more capital....
View ArticleCanada Libor investigators escalate dispute with RBS
The Canadian agency investigating whether banks manipulated a key global interest rates accused Royal Bank of Scotland Group on Wednesday of failing to cooperate with its probe and of making misleading...
View ArticleU.S. Congress panel blames Corzine for MF Global fall
Poor management decisions by MF Global's former CEO Jon Corzine triggered the brokerage firm's collapse, while lax protections for customer funds contributed to the loss of an estimated $1.6 billion of...
View ArticleSEC reports enforcements in fiscal 2012 nearly match previous year's record...
The Securities and Exchange Commission filed more enforcement actions in the past two years than in any two prior years, and more of the cases involved highly complex products, transactions or...
View ArticleBNY executive exposes schism on U.S. money funds reform
BNY Mellon Corp's investment management chief on Wednesday said he saw "some merit" to stiffer capital requirements and other rules for money funds proposed by U.S. regulators, in comments that exposed...
View ArticleDominican man extradited to Manhattan to face drug and money laundering charges
A Dominican man accused of racketeering for his alleged role in murder, drug trafficking, money laundering and other crimes has been extradited to face charge in Manhattan, federal prosecutors...
View ArticleSenior Taliban leader a drug kingpin, U.S. Treasury Department says
The U.S. Treasury Department on Thursday blacklisted senior Taliban leader Mullah Naim Barich as a narcotics trafficking kingpin. Treasury's action prohibits U.S. persons from conducting financial or...
View ArticleU.S. SEC finds problems in review of credit-raters
Some credit-rating agencies failed to disclose ratings method changes or were lax in following policies on timely downgrades of securities, according to a report issued by U.S. securities regulators on...
View ArticleU.S. Federal Reserve releases scenarios for bank stress tests
The U.S. Federal Reserve released on Thursday the economic scenarios, including a hypothetical sharp slowdown in China, that the biggest banks will use in the next round of stress tests to determine...
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