First Bank of Delaware pays stiff $15 million fine for anti-laundering lapses...
The First Bank of Delaware has agreed to pay more than $15 million for violating anti-money laundering rules by serving third-party payment processors with links to fraudulent internet merchants and...
View ArticleEx-UBS trader Adoboli convicted of $2.3 billion fraud
UBS trader Kweku Adoboli was jailed for seven years on Tuesday for the biggest fraud in British history, which cost the Swiss bank $2.3 billion. The 32-year-old had admitted trading far in excess of...
View ArticleHP accuses Autonomy of wrongdoing, takes $8.8 billion charge
Hewlett-Packard Co stunned Wall Street by alleging a massive accounting scandal at its British software unit Autonomy and taking an $8.8 billion writedown, the latest in a string of reversals that...
View ArticleU.S. regulator gives swaps dealers more time to report data
The top U.S. derivatives regulator gave swap dealers more time to report their trades to a data warehouse, giving the industry a common date by which to start the disclosure. The industry had...
View ArticleEx-mortgage document executive pleads guilty in 'robo-signing' case
A former executive at a mortgage records company pleaded guilty on Tuesday to a scheme to file fraudulent documents used in foreclosures, a rare prosecution of a top-level employee following the...
View ArticleOdd lot orders to be added to U.S. stock data feed
U.S. equities exchanges and regulators have agreed to begin reporting stock orders of less than 100 shares, common in high-priced popular names like Apple Inc and Google Inc, on a feed of real-time...
View ArticleCanada's Flaherty sees movement on securities regulator
Canadian Finance Minister Jim Flaherty said on Tuesday he has seen movement in discussions on creating a national securities regulator, and expressed optimism that federal and provincial authorities...
View ArticleSEC bars New York-based adviser for faking amount of client assets
An investment adviser who federal regulators said misrepresented the amount of assets his firm managed in order to remain registered with federal, instead, of state, securities regulators, has been...
View ArticleNew York sues Credit Suisse over mortgage securities
New York Attorney General Eric Schneiderman sued Credit Suisse Group AG on Tuesday and accused it of deceiving investors in mortgage-backed securities, an industry practice that an official inquiry has...
View ArticleU.S. charges ex-SAC manager in $276 million insider scheme
U.S. prosecutors on Tuesday charged a former SAC Capital employee with insider trading in a series of transactions that hedge fund titan Steven A. Cohen had personally signed off on. In what they...
View ArticleCFTC approves CME data warehouse application
A U.S. regulator on Wednesday granted exchange operator CME Group Inc approval to run a new type of data warehouse required under U.S. financial reform rules. The CME, the country's largest operator of...
View ArticleCantor Fitzgerald fined $700,000 for customer-fund violation
Cantor Fitzgerald will pay a $700,000 fine to settle allegations it allowed a shortfall in futures-customer funds just months after the collapse of MF Global left a gaping hole in customers' accounts,...
View ArticleDon't delay new bank rules too long, Asia urges Europe
Asian financial leaders warned Europe on Tuesday to limit any delay in stricter banking rules to months not years amid fears the United States' decision to shelve the controversial new global regime...
View ArticleJudge lets lawsuit proceed on CME price-settlement
A group of grain traders can proceed with a lawsuit to overturn new price-settlement rules at CME Group, a judge in Chicago ruled on Monday. Cook County Circuit Court Judge Lee Preston denied a motion...
View ArticleCFTC moves to shut Irish 'prediction' site to most U.S. punters
The Commodity Futures Trading Commission on Monday charged Dublin, Ireland-based Trade Exchange Network Limited ("TEN") and a subsidiary, Intrade the Prediction Market Limited, with violating a ban on...
View ArticleFed's Lockhart warns of cyber threats to financial system
A top U.S. Federal Reserve official warned on Tuesday of potential risks to financial stability from cyberattacks on the U.S. payments system and from a looming funding gap in public pensions. In a...
View ArticleGlobal regulators to hold New York meet on derivatives rules
Global regulators will meet in New York on Wednesday, hoping to hammer out a deal on how to jointly supervise the $650 trillion derivatives market, a thorny issue they have to solve before the end of...
View ArticleU.S. SEC charges four Indian brokerages with registration violations
Four Indian financial services firms agreed to pay nearly $2 million to settle U.S. Securities and Exchange Commission charges it provided brokerage services to U.S. institutional investors without...
View ArticleOffshore centres no longer the 'Wild West' but red flags remain, conference...
Offshore financial centres are no longer the Wild West "anything goes" jurisdictions they used to be but there are a number of red flags surrounding frauds perpetuated in these countries, a conference...
View ArticleU.S. Senate works on new package of Iran sanctions
New sanctions aimed at reducing global trade with Iran in the energy, shipping and metals sectors may soon be considered by the U.S. Senate as part of an annual defense policy bill, senators and aides...
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