Basel Committee head calls for balance of simplicity, risk sensitivity in...
Banking regulators need to balance the simplicity of letting firms to rely on their own models for meeting capital requirements, against the increased sensitivity of firmly-enforced standards set by...
View ArticleFormer MoneyGram compliance chief facing potential record fine regarded as...
In the late 1990s former MoneyGram International Inc executive Thomas Haider was a compliance leader pushing the money transfer industry to do more to fight financial crime, convincing his and other...
View ArticleNeed to monitor, not stifle shadow banks, IMF says
Regulators should keep a close watch over the shadow banking system to protect its useful functions without any undue risks to the financial system, the International Monetary Fund said on Wednesday....
View ArticleUK's Jonathan Hill must undergo second audition for European Commission...
A closed-door meeting of members of the European parliament (MEPs) decided that Jonathan Hill, the British European commissioner, must attend a second confirmation hearing before they decide on his...
View ArticleBroker to pay $1.56 million over U.S. regulator's wheat futures manipulation...
A futures broker has agreed to pay a $1.56 million penalty to settle claims that he manipulated wheat futures prices with fictitious sales in 2009, according to a court filing. Eric Moncada, who worked...
View ArticleLoan fraud inquiry focuses on used-car dealers and their bankers -report
U.S. federal and state authorities are investigating used-car dealerships to examine if they are inflating borrowers' income or falsifying employment information on loan applications to ensure that...
View ArticleU.S. securities audit trail to cost about $255 million over 5 years
The creation of a mammoth database that was ordered up in the wake of the Flash Crash will cost $255.6 million over five years to operate, according to the average cost estimate of six entities vying...
View ArticleSEC to extend comment period on tick-size plan for small firms
The Securities and Exchange Commission is to extend a pilot program that would allow the stocks of small companies to be traded in wider increments. Stephen Luparello, director of the SEC's division of...
View ArticleU.S. bond market facing liquidity "cliff" but Pimco ETF outflows not too...
The U.S. bond market may be teetering on the brink of a "liquidity cliff" and appears to be an asset "bubble" that could burst once interest rates start to rise again, a top U.S. securities regulator...
View ArticleU.S. and Canadian banks struggle with laundering risks from foreign...
Some U.S. banks are still failing to properly address the money laundering risks associated with services provided to foreign affiliates, despite the lessons that should have been learned from...
View ArticleSpeed trader charged in first U.S. criminal 'spoofing' case
High-frequency trader Michael Coscia was charged with manipulating commodity futures prices in the first U.S. federal criminal prosecution of the practice of "spoofing," the Justice Department said on...
View ArticleU.S. SEC to take deeper look at Wall Street arbitration reform plan
The U.S. Securities and Exchange Commission is taking the unusual step of extending its review of a plan to restrict industry veterans from serving as arbitrators in many legal disputes between...
View ArticleAnti-disruptive trading rule will look like old specialist rules, says senior...
A rule the Securities and Exchange Commission is crafting to prevent aggressive trading by high frequency traders will look like rules the New York Stock Exchange once used to govern specialists in the...
View ArticleJPMorgan hack exposed data of 83 million, among biggest breaches in history
Names, addresses, phone numbers and email addresses of the holders of some 83 million households and small business accounts were exposed when computer systems at JPMorgan Chase & Co were recently...
View ArticleU.S. Treasury orders more reporting of cash transactions in Los Angeles;...
The U.S. Treasury Department's anti-money laundering unit on Thursday issued an order that will require thousands of businesses in L.A.'s Fashion District to report smaller cash transactions as part of...
View ArticleN.Y. Fed's Dudley urges ethical culture in banking, defends examiner...
An ethical push is needed to correct the shame felt by some bankers over their institutions' behavior, New York Federal Reserve Bank president William Dudley said as he launched a spirited defense of...
View ArticleBanks seek flexibility in last major post-financial crisis regulation
The world's largest banks are pushing regulators for more flexibility in the last major set of rules to come out of the global financial crisis: requirements that would double the capital cushion banks...
View ArticleEx-Jefferies trader may win reversal of fraud conviction
A federal appeals court signaled that former Jefferies Group Inc managing director Jesse Litvak has a good chance to overturn his conviction for defrauding mortgage bond investors after the 2008...
View ArticleON THE MOVE: FINRA enforcement official Gordy to join law firm
A top enforcement official is leaving Wall Street's industry-funded watchdog to join a private law firm, a spokesman for the firm said on Friday. Emily Gordy, the Financial Industry Regulatory...
View ArticleU.S. SEC to decide if investors share in $600 mln SAC settlement
The U.S. Securities and Exchange Commission will decide next week whether investors in two drug stocks at the center of the largest-ever insider trading case are entitled to compensation. If the SEC...
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