Financial Stability Board calls for foreign exchange fix reforms, urges banks...
The Financial Stability Board has urged deep-rooted change to how currency benchmarks are set, encouraging market players to tighten up their governance, practices and controls rather than imposing...
View ArticleUK's FCA makes 'secret' AML risk list public
The UK Financial Conduct Authority (FCA) has made public the list of the 95 countries it perceives as presenting high money laundering risks. The list, which sets out the countries that firms should...
View ArticleU.S. SEC official vows to defend agency from Fed 'assault'
A member of the U.S. Securities and Exchange Commission is vowing to defend the regulator's turf against what he said is growing encroachment by the Federal Reserve and a council of financial...
View ArticleU.S. audit watchdog says Chinese inspections may start this year
The top U.S. auditor regulator said it expects to conduct its first inspection of a mainland Chinese audit firm by the end of the year, under an expected deal to resolve a long-running dispute between...
View ArticleS&P open to paying up to $1 billion to settle DOJ lawsuit
Standard & Poor's Ratings Services decided to settle a pending lawsuit with the U.S. Department of Justice (DOJ) and is open to paying about $1 billion to settle it, the Wall Street Journal...
View ArticleBritish Columbia pair fined $7 million, banned for fraud, illegal distribution
The British Columbia Securities Commission (BCSC) has issued nearly $12.5 million in fines and permanent bans against two BC men and their companies for fraud, illegal securities distribution, and...
View ArticleNew York trader claims sour short bet on volatile Cynk cost him his job
A New York trader claims he lost his job over the dramatic run-up in Cynk Technology Corp stock, which at one point last week had a market value of about $6 billion dollars before trading was halted on...
View ArticleSEC's Piwowar casts doubt on how money fund rules will shape up
A top U.S. securities regulator raised doubts on Tuesday on whether his agency will adopt rules requiring prime money market funds to float the value of their shares, saying deliberations are ongoing...
View ArticleU.S. Treasury unit fines Georgia check-casher in AML crackdown on...
The U.S. Treasury Department's anti-money laundering unit on Tuesday announced it has levied a $45,000 civil penalty against a Georgia check-cashing business that failed to enact a proper Bank Secrecy...
View ArticleNY judge rules broker engaged in fictitious wheat futures sales
A federal judge in New York on Tuesday ruled that a futures broker accused of manipulating wheat futures prices engaged in fictitious sales in 2009. U.S. District Judge Colleen McMahon of Manhattan...
View ArticleEU official puts positive spin on transatlantic regulatory talks, but British...
Building mutual regulatory trust across the Atlantic is slow work, and the results can be destroyed very quickly, a senior EU official has warned, but such trust-building is key to minimizing...
View ArticleFannie, Freddie making risky deals with small lenders -watchdog
U.S. housing finance companies Fannie Mae and Freddie Mac are making riskier deals as they increasingly purchase mortgages from smaller lenders, a federal watchdog said on Thursday. The...
View ArticleFormer New Mexico governor Anaya settles SEC fraud charges
Former New Mexico governor Toney Anaya has settled U.S. Securities and Exchange Commission charges that he concealed from investors prior violations of law by two high-level officials at a water...
View ArticleU.S. Treasury chief Lew: cyberattacks aim to disrupt financial system
The hundreds of cyberattacks against U.S. banks and other institutions in recent years represent a targeted attempt to more broadly disrupt the U.S. financial system, Treasury Secretary Jack Lew said...
View ArticleBank of America pays AIG $650 million to settle mortgage disputes
Bank of America agreed to pay American International Group Inc $650 million to settle long-running legal disputes over defective mortgage-backed securities sold in the run-up to the financial crisis....
View ArticleFINRA sanctions broker, CFO over supervisory violations
The Financial Industry Regulatory Authority has sanctioned a broker-dealer, Source Capital Group, Inc., and Russell Newton, its chief financial officer, for failing to supervise the firm's staff and...
View ArticleU.S. enforcement agency urges financial institutions to share...
As the number of reports of suspicious activity linked to virtual currencies such as Bitcoin continues to grow, financial institutions of all stripes should be sharing information to better assess the...
View ArticleU.S. slaps toughest sanctions yet on Russia, targets Putin allies
President Barack Obama imposed the toughest U.S. sanctions yet on Russia, striking at the heart of Vladimir Putin's powerbase by targeting companies closest to him over what Washington says is Moscow's...
View ArticleEXCLUSIVE: U.S. SEC examiners to take aim at costly mutual funds, bad brokers
A U.S. Securities and Exchange Commission official offered a sneak peek on plans for examining brokerages in 2015, indicating it would likely focus on sales of expensive mutual funds and have a "laser...
View ArticleNew York state proposes regulatory framework for virtual currencies
The New York State Department of Financial Services (DFS) is seeking public comment on a proposed "BitLicense" regulatory framework for New York virtual currency businesses, DFS Superintendent Benjamin...
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