U.S. audit watchdog to criticize PwC - memo from firm
The U.S. regulator of corporate auditors will soon release a report criticizing quality controls at PricewaterhouseCoopers, according to an internal PwC memo obtained by Reuters. The report from the...
View ArticleStates probing top U.S. banks over debt collection
The largest U.S. banks face a multi-state investigation into whether they helped debt collectors pursue faulty judgments against credit card customers, according to people familiar with the matter. At...
View ArticleFinancial adviser to NFL players barred by regulator
A Florida broker who is accused of steering more than 30 professional U.S. football players to invest a total of $40 million in a now-bankrupt casino has been barred from the securities industry, an...
View ArticleFidelity faces more complaints about 'float income,' in client suit
Fidelity Investments, the largest U.S. provider of workplace retirement plans, is facing more accusations it improperly uses customer money earned in overnight accounts to pay its own operating...
View ArticleSEC worried that advisers are not complying with custody rule
The Securities and Exchange Commission is worried that investment advisers are not taking the agency's custody responsibilities seriously enough, said Carlo di Florio, director of the SEC's Office of...
View ArticleU.S. SEC proposes rules to tackle trading glitches
U.S. securities regulators proposed new rules on Thursday that would require exchanges, clearing agencies and other kinds of trading platforms to be better prepared to handle major market disruptions...
View ArticleU.S. regulators, under pressure from Congress, look to punish bankers for...
Bank executives who violate anti-money laundering laws may soon face harsher punishment in the United States as regulators consider ways to step up the fight against illicit money flows. New rules are...
View ArticleQantas link to foiled plot to land jumbos in Iran
US investigators foiled a sophisticated plot to funnel three jumbo jets originally owned by Qantas to Iran, in defiance of strict trade sanctions. Qantas sold the passenger jets to a company in the...
View ArticleInsurers ask senior official to clarify IAIS's inappropriate G-SII methodology
The Global Federation of Insurance Associations (GFIA) has asked the International Association of Insurance Supervisors (IAIS) to address industry concerns about its proposed methodology to identify...
View ArticleFugitive hedge fund manager arrested in Italy on U.S. fraud charges
German hedge fund manager Florian Homm, who had been a fugitive for more than five years, was arrested in Italy on U.S. fraud charges, according to a statement from the U.S. Attorney's office in Los...
View ArticleU.S. bank stress tests show more resilience, but test measures prompt questions
A third round of stress tests conducted annually by the Federal Reserve found that the 18 largest US bank holding companies have continued to improve their ability to withstand an extremely adverse...
View ArticleU.S. SEC "sweep" exams to review mutual-fund fees, alternative funds
The top U.S. securities regulator plans to examine how the advisory industry pays mutual fund distributors, as well as broader trends and risks involving alternative funds. U.S. Securities and Exchange...
View ArticleGlobal regulators publish responses to financial benchmark consultation
The International Organization of Securities Commissions (IOSCO) on Monday published more than 50 comment letters it had received on its Consultation Report on Financial Benchmarks, issued January 11....
View ArticleSEC: Goldman cannot ignore proposal to split chairman, CEO roles
Goldman Sachs Group Inc lost its battle to ignore an investor proposal to strip Chief Executive Lloyd Blankfein of his chairman role, according to correspondence posted on the U.S. Securities and...
View ArticleTop Gensler aide leaves U.S. derivatives regulator CFTC
The top U.S. derivatives regulator will lose a key aide who oversaw much of the agency's reform of Wall Street, just as it enters the crucial last phase of implementing the new rules. Commodity Futures...
View ArticleSEC should let private firms conduct compliance audits of advisers, former...
The Securities and Exchange Commission's Office of Compliance Inspections and Examinations should allow private firms conduct compliance audits of firms, so that it can devote its limited resources to...
View ArticleINTERVIEW: Phase-in of EU derivatives rules may drag on into 2014
Implementing new European Union rules to reduce risks in the $640 trillion derivatives business could stretch into next year, because the regulation needs to be phased in gradually, a senior EU...
View ArticleBetting site Intrade halts trading over irregularities
Irish online betting exchange Intrade, which let customers stake cash on everything from the Papal conclave to the date of the next major terror attack, said it had ceased trading after the discovery...
View ArticleCalifornia judge dismisses identity-theft conviction after life agent's...
A Los Angeles Superior Court judge has dismissed the identity-theft conviction of life insurance agent David Kolpakchi after he completed his court-ordered probation, a spokesman for the District...
View ArticleEcuador seeks to end investment protection treaty with U.S.
Ecuador's socialist president Rafael Correa presented a bill on Monday asking lawmakers to annul an investment protection treaty with the United States, which would prevent U.S. companies from filing...
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