Schapiro aims parting SEC salvo at accounting professional
In her last official act before retiring on Friday, Securities and Exchange Commission Chairman Mary Schapiro ordered a former Ernst & Young audit partner to be suspended from appearing or...
View ArticleU.S. SEC has examined Bank of America mortgage repurchases
U.S. securities regulators have made inquiries into the mortgage repurchase practices at Bank of America Corp's BAC.N Countrywide unit, according to a transcript filed in a lawsuit against the bank by...
View ArticleIndyMac CEO settles FDIC financial crisis case
Former IndyMac Chief Executive Michael Perry agreed on Friday to settle a lawsuit filed by the Federal Deposit Insurance Corp that stemmed from the collapse of the bank during the financial crisis, the...
View ArticleU.S. Fed plans to boost oversight of foreign banks
The U.S. Federal Reserve on Friday proposed to tighten the leash on foreign banks to protect taxpayers from having to bail them out, in what banks said could lead to a pullback from U.S. markets. The...
View ArticleUBS faces $1.5 billion day of reckoning over rate rigging
UBS AG will pay around $1.5 billion to settle charges that a group of traders at its Japanese unit rigged Libor interest rates, a source familiar with the matter said on Monday as the Swiss bank...
View ArticleAllianz SE to pay $12.4 million to resolve U.S. SEC bribery charges
German insurer Allianz SE has agreed to pay $12.4 million to resolve charges it violated a U.S. foreign bribery law, the U.S. Securities and Exchange Commission said on Monday. The SEC said Allianz...
View ArticleU.S. SEC names John Ramsay head of trading and markets division
The U.S. Securities and Exchange Commission said on Monday it has named John Ramsay as acting director of the regulator's Division of Trading and Markets. Ramsay, who had served as a deputy director of...
View ArticleWal-Mart affiliate used bribes to open 19 new stores in Mexico - report
Wal-Mart Stores Inc's Mexican affiliate routinely used bribes to open stores in desirable locations, according to a New York Times investigation published Monday, which cites 19 instances of the retail...
View ArticleU.S. agency sues JPMorgan over mortgage securities
The U.S. credit union regulator sued JPMorgan Securities and Bear Stearns & Co on Monday over $3.6 billion in mortgage securities the bank allegedly sold to credit unions that collapsed because of...
View ArticleCFTC no-action letter gives swap dealers relief from complying with reporting...
The Commodity Futures Trading Commission issued a no-action letter that would give swap dealers and major swaps participants more time to report valuation data on their cleared swaps trades. The...
View ArticleMass. fines Morgan Stanley over Facebook research
Morgan Stanley, the lead underwriter for Facebook Inc's initial public offering, will pay a $5 million fine to Massachusetts to settle charges that its bankers improperly influenced its research...
View ArticleCFTC adopts final rule requiring firms to save their oral communications
The Commodity Futures Trading Commission on Monday approved a final rule that would require firms registered with the agency to record the oral communications of their brokers for up to a year. Firms...
View ArticleEurope to miss bank rules deadline after EU talks postponed
Europe will definitely fail to meet the globally-agreed January deadline for the implementation of tougher capital requirements for banks after European Union talks to agree the rules were postponed on...
View ArticleBank of England tells clearing houses to put stability before profit
Clearing houses hoping for a rich pickings from stricter derivatives rules face spot checks to make sure they are investing enough money in risk management, the Bank of England said. World leaders have...
View ArticleU.S. Treasury targets leadership of Congolese militant group
The U.S. Treasury Department on Tuesday blacklisted two senior leaders of the Congolese militant group Mouvement Du 23 Mars, Baudoin Ngaruye and Innocent Kaina, for recruiting and using child soldiers...
View ArticleBasel Committee starts wider overhaul of securitisation, sees more capital...
Global regulators have begun an overhaul of how banks should set aside capital to cover risks from securitised products after some turned toxic and triggered the 2007-09 financial crisis. The Basel...
View ArticleGlobal accounting body signals pause after flurry of rules
The standard setter which writes accounting rules for over 100 countries said it will pause for a while and focus on just a few reforms requested by its users, and bed down rules it has already...
View ArticleFSA share of UBS fine is £160 million for Libor and Euribor failings
The Financial Services Authority (FSA) has fined UBS AG £160 million ($260.3 million) for misconduct relating to the London Interbank Offered Rate (Libor) and the Euro Interbank Offered Rate (Euribor)....
View ArticleU.S. muni board seeks feedback on all regulations in sweeping review
The Municipal Securities Rulemaking Board has begun a sweeping review of its regulations, seeking to revise or retire out-of-date rules, it said on Tuesday. The board is a self-regulatory organization...
View ArticleWal-Mart seen facing sizeable fines in U.S. bribery probe
Wal-Mart Stores may be facing sizeable fines related to allegations of widespread bribery at its Mexican affiliate, after a second report from the New York Times provided more details about the scope...
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