Swiss bank Pictet breaks with history to publish results after U.S. tax...
Swiss private bank Pictet opened its books to public scrutiny for the first time on Tuesday, after being dragged into the spotlight by a change in its 209-year-old structure and a U.S. tax...
View ArticleSchwab loses $15 million arbitration case against Morgan Stanley over broker...
Charles Schwab Corp. has lost a $15 million arbitration case against Morgan Stanley MS.N, which it accused of improperly recruiting brokers from a Schwab San Francisco branch who left with confidential...
View ArticleHong Kong trader banned for hiding FINRA sanction
Hong Kong's securities regulator has banned a former licensed trader from the industry for nine months, after he was convicted earlier this year of misleading the Securities and Futures Commission...
View ArticleU.S. charges investor relations executive with insider trading in client firms
U.S. prosecutors on Tuesday charged an executive of a New York investor relations firm with insider trading, accusing him of using nonpublic information to earn more than $538,000 in illicit profits....
View ArticleFinal U.S. liquidity rules to exclude muni bonds - source says
U.S. banks will not be able to include municipal bonds in mandatory buffers of easy-to-sell assets under rules nearing final approval, a person familiar with the process said on Tuesday. The U.S....
View ArticleSEC and FINRA move forward with test of wider tick-sizes for small cap stocks
The Securities and Exchange Commission and the Financial Industry Regulatory Authority are moving ahead with a program that would allow the stocks of small companies to be traded in wider increments....
View ArticleU.S. SEC meeting to consider delayed overhaul of asset-backed securities
The U.S. Securities and Exchange Commission will hold a public meeting on its overhaul of the securitization market on Wednesday to consider rules likely to require greater disclosure of the quality of...
View ArticleCFTC slaps Merrill Lynch with $1.2 million fine over supervision failures
Merrill Lynch must pay $1.2 million to the Commodity Futures Trading Commission to settle charges it overcharged some clients when it processed their exchange and clearing fees. The CFTC, which has...
View ArticleIMF's Lagarde put under investigation in French fraud case
IMF chief Christine Lagarde has been put under formal investigation by French magistrates for negligence in a political fraud affair dating from 2008 when she was finance minister. Lagarde, who this...
View ArticlePwC must face $1 billion lawsuit over MF Global advice
A federal judge on Wednesday ordered PricewaterhouseCoopers to face a $1 billion lawsuit claiming that its bad accounting advice was a substantial cause of the October 2011 bankruptcy of MF Global...
View ArticleBanks' pressure stalls opening of U.S. derivatives trading platform
The first interdealer trading platform aimed at opening up credit derivatives markets to new competition has hit roadblocks due to resistance from some banks that dominate such trading, according to...
View ArticleManhattan U.S. prosecutors seek properties said bought with human trafficking...
Federal prosecutors in Manhattan have filed a lawsuit that seeks the forfeiture of seven seized properties in Dutchess County, New York allegedly purchased with funds generated by a human trafficking...
View ArticleU.S. CFTC says fines South Africa's FirstRand for prearranged trades bank...
The Commodity Futures Trading Commission on Wednesday sanctioned FirstRand Bank, Ltd., a South African financial services company, for executing unlawful prearranged, noncompetitive futures trades on...
View ArticleU.S. bank regulators to adopt liquidity, margin rules
U.S. regulators will next week vote to adopt two major rules to reduce risks to banks, the Federal Reserve said, including a plan for them to hold enough easy-to-sell assets to survive a future...
View ArticleJPMorgan, FBI investigating possible cyber attacks
JPMorgan Chase & Co is investigating a possible cyber attack and working with law enforcement to determine the scope, company spokeswoman Trish Wexler said on Thursday The bank is taking additional...
View ArticleSEC adopts disclosure rules for asset-backed securities, controls for credit...
The Securities and Exchange Commission has adopted rules that would force issuers of asset-backed securities to disclose more information about the risky nature of the loans inside the securities....
View ArticleEXCLUSIVE: Decision by some banks to serve pot industry worries peers,...
State-sanctioned marijuana businesses have finally begun landing bank accounts, a development that worries compliance departments at banks that continue to shun such business due to legal risks. Their...
View ArticleDates and deadlines: weekly update
This week has seen the Financial Conduct Authority impose fines on the Royal Bank of Scotland and its subsidiary NatWest for serious failings in their advised mortgage sales business and Deutsche Bank...
View ArticleU.S. Treasury unit fines defunct money transfer arm of Portuguese bank over...
A unit of the U.S. Treasury Department has fined a defunct, New Jersey money transfer firm $125,000 for operating with serious anti-money laundering weaknesses from the mid-2000s until it ceased...
View ArticleHSBC, Nomura lose bid to avoid U.S. agency's mortgage lawsuits
A U.S. regulator can proceed with lawsuits accusing HSBC Holdings Plc HSBA.L and Nomura Holdings Inc 8604.T of misleading Fannie Mae and Freddie Mac into buying mortgage-backed securities that later...
View Article