Fannie Mae settles suit over statements to shareholders for $170 million
Fannie Mae has reached a $170 million settlement of a lawsuit accusing it of misleading shareholders about its finances, risk management and mortgage exposure before it was seized by the U.S....
View ArticleUBS bulks up legal reserves by $1.9 billion, discusses foreign exchange...
UBS booked 1.8 billion Swiss francs ($1.9 billion) in legal provisions for the third quarter, bulking up reserves as it discusses a settlement with U.S. prosecutors to a criminal investigation over...
View ArticleThe Fair and Effective Market Review: UK government and regulators' deep-dive...
Britain's regulatory authorities have launched a three-month consultation on ways to strengthen confidence in the wholesale fixed-income, currencies and commodity (FICC) markets. The Prudential...
View ArticleU.S. commodities regulator CFTC to meet on derivatives rules tweaks
The U.S. Commodity Futures Trading Commission said on Monday it will discuss tweaking some rules on trading derivatives to help streamline activities for smaller market participants. The agency will...
View ArticleBank of America's Merrill fined over short-sale rule violations
Wall Street's self-funded regulator said on Monday it fined Bank of America Corp's Merrill Lynch unit a total of $6 million over violations of certain short-selling rules designed to prevent market...
View ArticleU.S. firm to pay $5 million to resolve SEC charges over bribery in Africa,...
Layne Christensen Co, a water management and drilling company, agreed to pay nearly $5.13 million to resolve U.S. Securities and Exchange Commission charges that it bribed officials in several African...
View ArticleGlobal anti-laundering body FATF warns of ISIL financing risk
The Financial Action Task Force (FATF) has expressed concern about the financing generated by and provided to the militant group ISIL and has called for the effective implementation of its standards to...
View ArticleU.S. officials urge more government-business cooperation on cybersecurity
U.S. officials on Tuesday urged corporate America to work with the government to fend off cyber threats and said intelligence and law enforcement authorities are working to get useful information to...
View ArticleU.S. SEC probes CMS employees in insider-trading case -report
The U.S. Securities and Exchange Commission is investigating whether employees at the Centers for Medicare and Medicaid Services (CMS) leaked information to traders, the Wall Street Journal reported,...
View ArticleU.S. insurer MetLife to contest systemic importance tag next week
MetLife will plead against being branded a super-risky financial firm at a meeting next week with regulators, a company spokesman said, as the U.S. insurer tries to escape oversight by the Federal...
View ArticleU.S. consumer watchdog finds 'illegal' acts in mortgage, student loans
Companies that service U.S. student loans and mortgages tricked customers into paying higher fees or engaged in other acts that violate U.S. consumer laws, the U.S. Consumer Financial Protection Bureau...
View ArticleFed amends risk standards for systemically important clearinghouses
The Federal Reserve has issued a final rule to amend risk-management standards for utilities that pose a risk to the financial system. It means the Fed will merge risk-management standards for...
View ArticleBicoastal drug ring used 'funnel accounts' to zip money across U.S.,...
An investigation into suspicious cash transactions led to an indictment against eight people who earlier this month were charged with conspiring to distribute marijuana and structure cash transactions,...
View ArticleEXCLUSIVE: U.S. SEC probing private-equity performance figures
The U.S. Securities and Exchange Commission is examining how private equity firms report a key metric of their past performance when they market new funds to investors, as the regulator boosts its...
View ArticleFifty-one countries sign OECD pact to tackle tax cheats
Finance ministers and tax chiefs from 51 countries signed an agreement on Wednesday to automatically swap tax information, which Germany's finance minister said heralded the end of tax evasion via...
View ArticleBarclays sets aside $800 million for FX fines as settlements near
Barclays Plc set aside 500 million pounds ($800 million) in the third quarter to cover potential fines for rigging currency markets, taking the shine off a rise in reported profits. The British bank on...
View ArticleU.S. Senate hearing planned on tapes of Fed-Goldman meetings
An influential U.S. senator aims to hold a public hearing after secretly recorded conversations between regulators at the Federal Reserve Bank of New York and officials at Goldman Sachs raised...
View ArticleTwenty-nine charged in Chicago with 'cracking cards' bank fraud scheme
Twenty-nine people in the Chicago area face state or federal charges for involvement with a bank fraud scheme known as "cracking cards," which found participants through rap music and social media and...
View ArticleCanadian national securities clearinghouse to get new emergency powers after...
Regulators may give Canada's national securities depository, clearing, and settlement agency new powers to intervene during emergencies. The rule amendments, proposed by the Ontario Securities...
View ArticleSouth Texas electronics company forfeits $1.3 million for failing to report...
An electronics business in the southwest border town of McAllen, Texas on Wednesday was ordered to forfeit more than $1.3 million for failing to report large cash transactions to the Internal Revenue...
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