CFTC fines firm, former trading manager over manipulation, false reporting
The Commodity Futures Trading Commission on Friday fined a Chicago futures brokerage $750,000 for reporting false orders and its former trading manager $200,000 for masterminding a fictitious trading...
View ArticleADVISORY: More stories from today on Compliance Complete home page
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View Article"Revolving door" may have hurt SEC money fund reforms: report
Former U.S. Securities and Exchange Commission staffers who now work in the private sector may have helped derail last year's effort to reform the $2.6 trillion money market fund industry, a report...
View ArticleRegulation and compliance drive cyber risk plans before new EU rules, finds...
Regulatory and compliance concerns are a main influence on organisations' planning for cyber risk, new research has found. A major part of this is in the pending new European Union data protection...
View ArticleInsider trading informant gets year of probation
Former Galleon hedge fund portfolio manager Ali Far was sentenced to a year of probation on Monday, after pleading guilty and cooperating with investigators in the Raj Rajaratnam insider-trading case....
View ArticleInfluential group says regulators should set higher leverage ratios to limit...
Bank regulators should target higher minimum leverage ratios to get an accurate picture of risk in big banks, according to an influential conservative think-tank. In a meeting on Monday, the...
View ArticleExpect no letup in FCPA enforcement, SEC chairman says
The Securities and Exchange Commission is redoubling its efforts against foreign bribery and corruption, Chairman Elisse Walter said at a training conference Monday. Walter spoke to representatives of...
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View ArticleNew York fund manager arrested on Ponzi scheme charges
A New York fund manager was arrested on Monday on charges of orchestrating a Ponzi scheme and stealing around $2 million from three hedge fund investors, U.S. authorities said. Federal prosecutors...
View ArticleU.S. probes ICAP, R.P. Martin over Libor
U.S. authorities are probing British interdealer brokers ICAP PLC and R.P. Martin Holdings Ltd over their role in a global interest rate-rigging scandal, the Wall Street Journal reported, citing people...
View ArticleU.S. DTCC says barriers hinder full derivatives picture
Regulators may not get the full benefit of reforms allowing them to better to spot risks in global derivatives markets unless obstacles to cross-border data sharing are removed, a U.S. industry...
View ArticleU.S. regulators propose clarifying deposit insurance rules
U.S. bank regulators proposed rules on Tuesday clarifying that deposits in foreign branches of U.S. banks are not eligible for U.S. deposit insurance, in an effort to resolve confusion over recent...
View ArticleInflated claims prove costly for ex-Jefferies trader
The Financial Industry Regulatory Authority has suspended Michael Francis Rail, Jr., as an equity trader for two weeks for inflating claims of his firm's trade volume. FINRA's sanctions are in addition...
View ArticleRussia's dirty money flows more than doubled since 2004, says report
The amount of dirty money flowing in and out of Russia has more than doubled over the past eight years, robbing the country of productive capital and driving a massive underground economy, a new report...
View ArticleBREAKINGVIEWS: Shareholder watchdogs should be unmuzzled
Shareholder watchdogs should be unmuzzled. Complaints from aggrieved groups often get bounced from court because of overly strict rules on evidence. The ones that do survive have proven effective at...
View ArticleGroup tells Congress to build on President Obama's cyber-security order
A group representing the computer security interests of the financial services industry has called on Congress to build on President Obama's executive order on cyber security by passing a full...
View ArticleFINRA sanctions Hartford units over misleading fund marketing materials
The Financial Industry Regulatory Authority has sanctioned two Hartford Financial Services Group units over unwarranted, misleading marketing claims to broker-dealers and customers about a fund they...
View ArticleSenate to focus on Volcker and derivatives rules, Banking Committee chair says
Implementing key provisions of the Dodd-Frank Act will be among the Senate Banking Committee's top priorities in 2013, committee chairman Tim Johnson, a South Dakota Democrat, said Tuesday. "While a...
View ArticleUS audit watchdog says may take action against Chinese auditors
The head of the U.S. audit watchdog said on Wednesday his organization may need to resort to enforcement actions against auditors based in China if they fail to hand over documents to U.S. regulators....
View ArticleGlobal market regulators need more time on derivatives rules, IOSCO chief says
New rules on how much collateral is needed to back derivatives trades are unlikely to be finalised before September, leaving markets in limbo as global regulators seek to minimise potential harm to...
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