Risk-based regime to form backbone of new European money laundering...
A shift towards a more risk-based approach to anti-money laundering forms one of the central planks of the European Commission's new Fourth Money Laundering Directive (4MLD), which is due to be...
View ArticleEU lawmaker panel rejects key derivatives rules
A panel of European Union lawmakers on Monday narrowly rejected a set of new derivatives rules, potentially leading to months of uncertainty for users of regulations instigated during the 2007-09...
View ArticleCFTC to hold public meeting on proposal to protect futures customer accounts
The Commodity Futures Trading Commission is to meet on Tuesday to gather public feedback on its plans to offer better protections to customers who hold money in futures brokerage accounts. The agency...
View ArticleU.S. municipal securities regulator seeks comment on new rulebook for muni...
The Municipal Securities Rulemaking Board has published an electronic version of its printed 2013 Rule Book describing rules for municipal securities dealers and municipal advisors effective as of...
View ArticleInsider-trading informant to forfeit $40,000, avoids prison
Karl Motey, a technology consultant who has been praised by the government for his help in insider-trading investigations, avoided prison time at his sentencing on Monday. U.S. District Judge Jed...
View ArticleFINRA seeks comment on revised proposed rules on markups, commissions and fees
The Financial Industry Regulatory Authority has issued Regulatory Notice 13-07 seeking comment on proposed rules governing markups, markdowns, commissions and fees. FINRA in February 2011 solicited...
View ArticleForeigners' accounts in U.S. banks eyed in tax crackdown
The Obama administration may soon ask Congress for the power to require more disclosure by U.S. banks of information about foreign clients' accounts to those clients' home governments, as part of a...
View ArticleCommodities broker, compliance officer barred for lying to NFA about...
A Ft. Lauderdale, Florida federal judge has fined an introducing broker and its compliance officer and enjoined them from trading commodities for making false statements to the National Futures...
View ArticleU.S. launches civil action against S&P over pre-crisis ratings
The U.S government has launched a civil lawsuit against Standard & Poor's and parent The McGraw-Hill Companies Inc over mortgage bond ratings, the first federal enforcement action against a credit...
View ArticleBarclays commissioned internal report on Libor rigging from Clifford Chance
Barclays commissioned law firm Clifford Chance to produce a report to its board into the culpability of individual employees in relation to rigging the London Interbank Offered Rate, it has emerged....
View ArticleCanadian Securities Administrators reappoint Bill Rice as chair
The Canadian Securities Administrators (CSA) have renewed the term of CSA Chair Bill Rice until March 31, 2015. Rice is also the president and chief executive of the Alberta Securities Commission. "I...
View ArticleOntario Securities Commission fines, permanently bans three for investment fraud
The Ontario Securities Commission has reprimanded and penalised Pasqualino Novielli, Brian Patrick Moloney, Zaida Pimentel and Goldpoint Resources Corporation for a $1.69 million fraud against 110...
View ArticleCalifornians washed customs fraud proceeds through Western Union and Citi,...
Three Californians were arrested Tuesday on conspiracy, mail fraud, money laundering and structuring charges for their alleged roles in a conspiracy to cheat the U.S. government out of customs duties...
View ArticleU.S. blacklists alleged Mexican drug gang laundryman and related money...
The U.S. Treasury Department on Tuesday blacklisted a Mexican national who allegedly launders money for the Los Zetas drug cartel and five money services businesses linked to him in the U.S. and Mexico...
View ArticleHSBC's global spread left it open to crime, CEO says
HSBC's was forced into its biggest restructuring in almost 150 years because the bank's complex structure and wide geographical spread had made it attractive to criminals, its chief executive said....
View ArticleSecuritization led to riskier corporate lending, not just on mortgages, NY...
It wasn't just residential real estate – corporate loan underwriting standards also fell during the securitization boom that preceded the credit crisis, a Federal Reserve Bank of New York official said...
View ArticleBig banks want more detail from U.S. clearers on risk controls
U.S. securities clearing-houses should reveal to their members details on how they plan to protect against defaults and how they invest members' margins, large U.S. banks said on Tuesday, among other...
View ArticleRBS fined £87.5 million in UK for LIBOR failings
The Financial Services Authority has fined Royal Bank of Scotland £87.5 million, net of a 30 percent early settlement discount, for its part in widespread attempted rigging of the London Interbank...
View ArticleCanada to toughen laws against bribery abroad
Canada will toughen its laws to be better able to combat corruption by Canadian businesses at home and abroad, the government said on Tuesday following the recent bribery conviction of a Calgary oil...
View ArticleU.S. Justice Department details RBS Japan guilty plea, parent company...
RBS Securities Japan Ltd. agreed to plead guilty in a connection with charges of manipulation of Libor benchmark interest rates and the RBS parent company admitted to fault in a deferred prosecution...
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