Canada seeks voluntary bank agreement to lower credit card costs
The Canadian government wants credit card companies and banks to voluntarily agree to lower transaction fees paid by retailers, and to do so within months, Finance Minister Joe Oliver said on Thursday....
View ArticleArgentina holdout creditor NML serves 18 banks with subpoenas, seeking...
NML Capital Ltd, a creditor suing Argentina in the U.S. courts for full payment on defaulted debt, subpoenaed 18 banks last week in an effort to track down $65 million in what it says is embezzled...
View ArticleMorgan Stanley loses lawsuit to overturn $8 million arbitration ruling
A federal judge upheld an $8 million arbitration ruling against Morgan Stanley in favor of a former energy trader who said he was improperly terminated after refusing to meet with New York law...
View ArticleGoldman Sachs plans debut sukuk issue as Islamic finance goes mainstream
Goldman Sachs is reviving plans to raise at least $500 million with its first issue of Islamic bonds, a sign that Islamic finance is going mainstream as big conventional banks seek to tap Middle...
View ArticleThree big banks must face U.S. swaps price-fixing lawsuit
A Manhattan federal judge said on Thursday that investors may pursue a lawsuit accusing 12 major banks of violating antitrust law by fixing prices and restraining competition in the roughly $21...
View ArticleAn Alaska pension fund sues banks over rate manipulation allegations
Thirteen of the world's biggest banks have been accused by an Alaska pension fund of breaking U.S. antitrust and commodities laws by rigging an interest rate benchmark used to price many financial...
View ArticleEx-compliance officer and Bitcoin entrepreneur admits aiding black-market Web...
High-profile digital currency entrepreneur Charlie Shrem, who served as the anti-money laundering compliance officer of a Bitcoin exchange that enabled customers to purchase illegal drugs on the...
View ArticleU.S. proposes systemic tag for MetLife; insurer considers fight
Insurer MetLife said it is exploring ways to fight the U.S. government's proposal on Thursday to deem it "systemically important" and subject it to stronger regulatory oversight. MetLife is the third...
View ArticleEXCLUSIVE: G20 signals flexibility on big bank failures — sources
Regulators trying to end the problem of "too big to fail" banks are moving closer to a landmark deal that will give large banks more flexibility about how to deal with losses when they go bust and cut...
View ArticleBritain eases rules for foreign branches
Foreign banks can operate as branches in Britain but only if they hold minimal deposits and meet other safeguards under new Bank of England (BoE) rules partly aimed at making it easier for Chinese...
View ArticleEU slaps new sanctions on Russia, may suspend them if ceasefire holds
The European Union slapped new economic sanctions on Russia on Friday, but said they could be suspended if Moscow withdraws its troops from Ukraine and observes a ceasefire. Some provisions will make...
View ArticleAnonymous Analytics slings mud at China's Tianhe, aims at Morgan Stanley
When stock researcher Anonymous Analytics accused China's Tianhe Chemicals last week of doctoring the books ahead of a Hong Kong IPO, it was pitting itself against one of Asia's top private equity...
View ArticleFormer United Commercial Bank executive to plead guilty in bank-failure case
A former bank executive has agreed to plead guilty in a U.S. criminal case resulting from the bank's failure after it received a $300 million federal bailout, according to a court filing on Friday....
View ArticleAIG, philanthropist trade lawsuits over 'life settlements' deal
An American International Group Inc AIG.N unit and a philanthropist traded lawsuits on Friday over a partnership gone sour involving billions of dollars in life insurance policies sold by elderly...
View ArticleSEC appoints ombudsman to deal with investor complaints
The Securities and Exchange Commission has appointed an ombudsman to act as a liaison in resolving problems that retail investors have with the agency or self-regulatory organizations. The SEC said on...
View ArticleSEC sanctions stockbroker over illegal share-distribution scheme
The U.S. Securities and Exchange Commission has sanctioned a 30-year veteran of the securities industry for helping a client perpetrate a stock fraud that netted the client some $5.8 million in illegal...
View ArticleU.S. SEC preparing new rules to boost risk oversight of funds - report
The U.S. Securities and Exchange Commission (SEC) is preparing new rules to boost oversight of mutual funds and hedge funds as part of an effort to gain insight into whether the asset management...
View ArticleU.S. prosecutors at insider-trading trial seek to rebound from streak-ending...
U.S. prosecutors in New York revived their five-year crackdown against insider trading on Monday, taking a former executive at data equipment maker Foundry Networks Inc to trial two months after...
View ArticleCarlyle group to pay $115 million to end LBO collusion lawsuit
Carlyle Group LP agreed to pay $115 million to settle a U.S. lawsuit accusing it of conspiring with rival private equity firms not to outbid each other on takeovers prior to the financial crisis. The...
View ArticleCitigroup expenses rise to meet stress testing
Citigroup Inc's third-quarter expenses are running "slightly higher" than three months ago because of efforts to prove to regulators that its risk and balance sheet management is good enough to allow...
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