UK court identifies Barclays staff named in rate probe
A number of current and past executives at Barclays are on a list of individuals named in documents relating to the regulatory investigation into the Libor rate-rigging scandal, court documents...
View Article"Substituted compliance" is a potential loophole in swaps rules, advocacy...
Consumer advocacy groups are urging the U.S. futures regulator to be wary of banks using a legal principle called substituted compliance as a loophole to avoid its swaps rules. In December, the...
View ArticleFlorida broker tipped friend for cash and jet ski dock -U.S.
A former Morgan Stanley financial adviser was arrested on Friday on charges of illegally tipping a friend to an $11 billion pharmaceutical deal in exchange for $35,000 and a jet ski dock, federal...
View ArticleBATS says glitch affected far fewer trades than originally thought
A systems error at U.S. stock market operator BATS Global Markets that led to a number of trades not being executed at the best possible price over a four-year period, was not as wide-spread as...
View ArticleU.S. regulators in UK support mutual recognition of finance-industry...
Two senior American regulators have voiced their support for exploring the possibility of establishing mutual recognition between the U.S. and UK of their respective regimes for authorizing – and...
View ArticleCanada battles with UK over RBS Libor documents
Britain cannot be relied on to force Royal Bank of Scotland Group Plc to give Canadian authorities documents on alleged interest rate rigging, because the British government is RBS's majority...
View ArticleSouth Dakota bank to pay $10 million for lapses that included potential...
A federal banking regulator on Friday issued a $10 million penalty to South Dakota-based TCF National Bank for anti-money laundering lapses that allegedly included failures to make timely reports of...
View ArticleBank fined under False Claims Act over loan underwriting practices
PNC Bank N.A. has agreed to pay $7.1 million over failing to engage in prudent underwriting practices in connection with the issuance of loans guaranteed by the Small Business Administration, the...
View ArticleTribunal upholds FSA decision to fine Swift Trade for market abuse
The Upper Tribunal (Tax and Chancery Chamber) has directed the Financial Services Authority to fine Swift Trade £8 million for layering, the abusive placing of large orders which there is no intention...
View ArticleEIOPA tests new capital rules after life insurers protest
The European Union's insurance regulator has launched a new study of proposed capital and risk management rules which insurers fear will make some of their staple products unviable. The European...
View ArticleFSB's Carney urges investor caution on valuing risks
Investors must not be complacent in valuing assets after efforts by central banks to pump money into struggling economies, a global financial risk watchdog said on Monday. After a meeting in Zurich,...
View ArticleChanging regulation dominates agendas of leading insurers' CEOs, says S&P
Changing regulation, along with low interest rates, dominates the agendas of leading insurers' CEOs globally, according to Standard & Poor's. In a special report, the rating agency says that...
View ArticleU.S. Treasury allowed excessive pay at TARP firms –watchdog
The U.S. Treasury Department in 2012 failed to curb executive pay at companies rescued with taxpayer funds, the second straight year that it did not live up to its own rules, an internal watchdog said...
View ArticleFERC supports $470 million market manipulation fine on Barclays
The U.S. Federal Energy Regulatory Commission (FERC) correctly found that traders for Barclays Plc manipulated the California power market from late 2006 to 2008 and should pay a record $470 million...
View ArticleIRS can seek UBS records for taxpayers hiding income at Wegelin
A federal judge on Monday authorized the Internal Revenue Service to seek records from UBS AG of U.S. taxpayers suspected of hiding their income in accounts with Swiss bank Wegelin. Wegelin, the...
View ArticleU.S. bank stress test results to be released March 7
U.S. regulators will release on March 7 the results of tests to determine how big banks would weather a financial shock, and they will put out evaluations of the largest banks' capital plans the...
View ArticleGlobal AML body happy to wait for full compliance with 40 recommendations,...
The Financial Action Task Force (FATF) has said that it does not necessarily expect countries to be fully compliant with its newly-introduced 40 recommendations when country evaluations start later...
View ArticleUK regulator closes Lehman case against auditor E&Y
Britain's accounting regulator declined to take any action against Ernst & Young (E&Y) over its auditing of Lehman Brothers before the U.S. investment bank failed in 2008 and triggered a near...
View ArticleUse of tax havens by U.S. global companies on the rise - report
U.S.-based global companies are increasingly shifting profits into tax havens like Bermuda and Switzerland, a government report said, a finding likely to fuel debate over the taxes corporations pay and...
View ArticleU.S. bank regulator OCC names acting head of large bank supervision
The U.S. Office of Comptroller of the Currency named Martin Pfinsfraff as acting head of large-bank supervision, to succeed Michael Brosnan, who was taking a new assignment as examiner-in-charge of...
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