Banking, market regulators push for changes to Euribor
Pan-European bank and financial market regulators called on Friday for a reduction in banks' influence on the Euribor rate-setting process and more regular checks to ensure the figures weren't...
View ArticleFidelity, Federated, Schwab to post daily fund values
Fidelity Investments, Federated Investors Inc and Charles Schwab Corp on Friday joined a growing list of top U.S. money market fund managers in agreeing to post daily fund asset values, as the industry...
View ArticleCFTC extends comment period on customer protections proposal by 30 days
The Commodity Futures Trading Commission is extending the comment period on its plan to develop stronger protections for customer accounts in futures commission merchants. The comment period is...
View ArticleFCPA-like U.S. Travel Act grounds Swiss fraudsters over bribe-based...
Roland Kaufmann, a Swiss citizen and chief executive of Dubai-based Axius Inc., a purported business incubator, pled guilty Friday to scheming to bribe U.S. broker-dealers to manipulate the price of...
View ArticleJPMorgan weighs actions on internal 'Whale' probes
JPMorgan Chase & Co may release on Wednesday additional results of internal probes into its $6.2 billion "London Whale" trading loss that could lead to a lower bonus for CEO Jamie Dimon, according...
View ArticleU.S. bank regulator OCC names Promontory Financial executive as chief counsel
The U.S. Office of the Comptroller of the Currency has named Amy Friend as chief counsel, the agency said on Monday. Friend, a managing director at Promontory Financial Group and former assistant chief...
View ArticleUK judge backs U.S. extradition of ex-Credit Suisse trader
A British court on Monday approved the extradition of a former Credit Suisse trader to the United States, where he is accused of inflating the prices of subprime mortgage-backed bonds to the tune of...
View ArticleCBOE to drop traders from board following SEC probe - report
CBOE Holdings Inc, the biggest U.S. options exchange, will revamp its board by dropping directors who also run trading firms following a probe into the exchange's regulation of its members, the Wall...
View ArticleU.S. regulator rejects Nasdaq plan to offer algorithmic trading
Nasdaq OMX Group Inc's proposal to offer algorithmic trading services that would compete against similar services offered by broker-dealers has been denied by a U.S. regulator. The exchange operator...
View ArticleJPMorgan ordered to improve controls after 'London Whale' loss,...
U.S. banking regulators have ordered JPMorgan Chase & Co to tighten its risk controls after the bank lost billions of dollars due to bad bets from a trader known as the "London Whale." The Federal...
View ArticleU.S. SEC settlements reach highest level since 2007
U.S. securities regulators reached 714 settlements with defendants in civil cases in the 2012 fiscal year - the highest number since 2007, a report released on Monday showed. The biannual report by...
View ArticleGoldman backs down on bank bonus delay
Goldman Sachs has scrapped plans to delay paying bonuses to its bankers in Britain to exploit an income tax cut for top earners after Bank of England Governor Mervyn King criticised the move. Earlier...
View ArticleEx-compliance exec sues Siemens over alleged Asia bribery scheme
A former compliance officer for Siemens AG in China sued the company on Tuesday, accusing it of firing him after he tried to expose a kickback scheme involving medical equipment sales to hospitals...
View ArticleRBS braced for up to $800 million Libor fines – sources
Royal Bank of Scotland is braced for fines of between 400 million pounds and 500 million pounds ($803 million) for its role in an interest rate rigging scandal, sources familiar with the matter said....
View ArticleMorgan Stanley to defer bonuses for top earners, say sources
Morgan Stanley is taking three years to pay out 2012 bonuses to high-earning employees, three sources familiar with the situation said on Tuesday, a step that will better align incentives with...
View ArticleHong Kong arbitrator awards $77 million to Greenberg's Starr from...
A Hong Kong arbitration panel has ruled that China MediaExpress Holdings Inc was a "fraudulent enterprise" and awarded $77 million to Starr Investments, a firm run by former AIG chief Maurice...
View ArticleCommodity pool chief ordered to pay $340,000 and barred from industry over...
The Commodity Futures Trading Commission won a $340,000 consent order against the president of an unregistered commodity pool operator to settle charges that the firm defrauded its investors. A U.S....
View ArticleEx-compliance executive sues Siemens in U.S. over alleged Asia bribery scheme
A former compliance officer for Siemens AG in China sued the company on Tuesday, accusing it of firing him after he tried to expose a kickback scheme involving medical equipment sales to hospitals...
View Article"Repo-to-maturity" loophole used by MF Global targeted by U.S. accounting body
The group that sets U.S. accounting standards proposed tightening an accounting rule that brokerage MF Global used to obscure its exposure to risky European sovereign debt ahead of its bankruptcy...
View ArticleU.S. risk council extends comment period on money fund proposal
The U.S. Financial Stability Oversight Council said Tuesday it is giving the public more time to comment on a proposed regulatory framework for the $2.6 trillion money market fund industry. The...
View Article
