Top U.S. regulators warn banks over 'Shellshock' bug
A group of top U.S. financial regulators urged banks to quickly fix their software to protect it against the "Shellshock" computer bug, saying it could expose them to fraud. Shellshock is a newly...
View ArticleU.S. agencies clarify timing for Volcker Rule CEO attestation
The Federal Reserve and four other agencies charged with oversight of the Volcker rule have provided updated information regarding when large banking entities must submit their initial Chief Executive...
View ArticleCommerzbank said to be investigated in U.S. over money laundering charges -...
Germany's second-largest lender Commerzbank AG is being investigated by the Manhattan U.S. attorney for alleged violations of money-laundering laws, the Wall Street Journal reported. After failing to...
View ArticleEXCLUSIVE: New York targets Commerzbank employees in sanctions accord -sources
New York's financial regulator wants some Commerzbank AG employees to be fired as part of a settlement over allegations the German lender improperly processed transactions with Iran and other countries...
View ArticleBank of America settles SEC charges over capital disclosure errors
Bank of America agreed to pay $7.65 million on Monday to settle civil charges alleging it miscalculated its regulatory capital for years, leading to an overestimate that eventually reached billions of...
View ArticleAvon wins dismissal of lawsuit over China bribery
Avon Products Inc on Monday won the dismissal of a securities fraud lawsuit accusing the cosmetics company of concealing its inability to stop workers from bribing officials in China to win business...
View ArticleU.S. to impose more of precision, "complicated" sanctions despite compliance...
The U.S. government will further expand its use of sanctions as a national security tool, despite the compliance challenges inflicted on banks and possible reductions in financial services availability...
View ArticleFlagstar Bank to pay $37.5 million over servicing violations in settlement...
The U.S. consumer watchdog on Monday said Flagstar Bancorp would pay $37.5 million over allegations that it broke new mortgage servicing rules and hurt struggling borrowers' efforts to stay in their...
View ArticleGlobal regulators agree reforms of currency benchmarks
The one-minute window for setting a widely used currency market benchmark should be extended to 5 minutes to make it harder to manipulate prices, the Group of Twenty's (G20) regulatory task force said...
View ArticleFINRA won't force brokers to insure against U.S. legal action
The industry group that regulates securities brokerages has decided it cannot force firms to carry insurance for payment of awards granted by arbitration panels or courts to customers who have lost...
View ArticleU.S. charges ex-Wells Fargo employees with insider trading
U.S. regulators on Monday charged two former Wells Fargo employees with insider trading, saying a former research analyst tipped a trader about pending rating changes for six healthcare stocks. The...
View ArticleEx-Barclays traders facing UK Libor charges sue bank in New York
Three former Barclays Plc traders facing charges in the United Kingdom over manipulation of Libor benchmark interest sued the bank in New York on Tuesday, accusing it of retaliating against them by...
View ArticleBankers say "derisking" underway amid sanctions crackdown; that's the point,...
A process of "derisking" is underway by financial firms exiting sectors that represent compliance landmines, bankers said on Tuesday, but a top U.S. sanctions enforcer said that is sometimes just the...
View ArticleU.S. judge dismisses Republican challenge to SEC pay-to-play rule
A federal judge in Washington late on Tuesday dismissed a challenge by two state Republican parties of a U.S. Securities and Exchange Commission rule that imposes restrictions on asset managers who...
View ArticleU.S. Fed to study impact of capital rules on big insurers
The U.S. Federal Reserve on Tuesday announced plans to study the potential effects of forcing big insurance companies to meet tough funding restrictions required by the 2010 Dodd-Frank law. The Wall...
View ArticleWall Street overseer FINRA says to spend up to $12 million on new data...
A mammoth data-collection system that Wall Street’s industry-funded watchdog wants to develop to ramp up its oversight of the securities industry would cost an estimated $8 million to $12 million to...
View ArticleJPMorgan to face U.S. class action in $10 billion MBS case
A federal judge on Tuesday said JPMorgan Chase & Co must face a class action lawsuit by investors who claimed the largest U.S. bank misled them about the safety of $10 billion of mortgage-backed...
View ArticleU.S. regulator seeks lifetime ban after poker-player Shak trades again
The U.S. commodities regulator said on Tuesday it is seeking a permanent trading ban and additional fines against Daniel Shak after the trader-turned-professional poker player violated an earlier...
View ArticleU.S. SEC's Piwowar proposes alternative to broker fiduciary rules
Requiring brokers and advisers to provide retail investors with more "concise" disclosures could be a better alternative to adopting uniform fiduciary duty rules for both professions, a top U.S....
View ArticleSEC charges two with insider trading on Ackman's bet on Herbalife
U.S. regulators on Tuesday charged two men with insider trading after they learned that hedge fund manager Bill Ackman was planning to announce a $1 billion bet against Herbalife Ltd based on a view...
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