FDIC quietly settles financial crisis cases -report
The Federal Deposit Insurance Corp collected $787 million in settlements to resolve civil claims related to bank failures from 2007 through 2012, according to statistics compiled by the Los Angeles...
View ArticlePEPwatch: Former Detroit mayor convicted on corruption charges
A federal jury on Monday convicted former Detroit mayor Kwame Kilpatrick on corruption charges for running a racketeering conspiracy that involved extortion, bribery and fraud. This conviction, which...
View ArticleIllinois settles SEC charges over pensions
Illinois, which has the worst-funded state pension system in the United States, agreed on Monday to settle federal civil securities fraud charges alleging it repeatedly misled municipal bond investors...
View ArticleOppenheimer to pay $2.8 million to settle valuation case
Oppenheimer & Co will pay more than $2.8 million to settle charges that it misled investors about the performance and policies of a private equity fund, the U.S. Securities and Exchange Commission...
View ArticleCFTC announces beginning of mandatory clearing for credit default swaps and...
Swap dealers, major swap participants, and private funds who entered into certain index credit default swaps and interest rate swaps transactions after March 11 must begin clearing the trades, the...
View ArticleFidelity backs money funds redemption fee during market stress
Fidelity Investments, the largest provider of U.S. money market funds, said on Tuesday it would support imposing a 1 percent redemption fee on large institutional money funds during times of extreme...
View ArticleStanford receivers reach settlement with Antigua in fraud case
U.S. and Antiguan officials liquidating Allen Stanford's offshore bank said they have reached a settlement that would return a substantial portion of $300 million in frozen assets to the victims of...
View ArticleStudy: SEC makes progress on economic analysis of rules
A study commissioned by a frequent critic of the U.S. Securities and Exchange Commission suggests that the agency is making progress in its efforts to analyze the impact its regulations have on...
View ArticleObama to meet CEOs on cyber security as U.S. probes possible hack of First...
President Barack Obama will sit down on Wednesday with corporate leaders to discuss efforts to improve cyber security in private industries amid rising concern about hacking attacks emanating from...
View ArticleCyber attack stops access to JPMorgan Chase site
The consumer banking website of JPMorgan Chase & Co was unavailable to some users on Tuesday as the company tried to deal with a denial-of-service cyber attack that slowed access for some...
View ArticleSEC asked Goldman to disclose more about illiquid assets
Goldman Sachs Group Inc began disclosing more information about the way it values illiquid assets after staff from the U.S. Securities and Exchange Commission pressured the bank to do so, according to...
View ArticleFINRA sanctions broker-dealer for ignoring its AML red flags
The Financial Industry Regulatory Authority on Monday sanctioned R.F. Lafferty & Co., Inc., a one-office family owned broker-dealer, for ignoring the red flags in its anti-money laundering (AML)...
View ArticleSEC nominee White says agency should lead on money-funds reform, vows...
In a sign that she will push the Securities and Exchange Commission to drive reforms for the money market industry, Mary Jo White said it "made sense" for the SEC to regulate money market funds. White...
View ArticleMortgage investment firm sanctioned in British Columbia for failing to meet...
In a settlement agreement (PDF) with the British Columbia Securities Commission, Symmetry 2 Mortgage Investment Corporation has admitted that it failed to meet its regulatory filing obligations and...
View ArticleU.N. removes name from Al-Qaeda and Taliban sanctions list
The United Nations Security Council (UNSC), has announced that the Al-Qaida Sanctions Committee approved the removal of the below named individual from its Consolidated List of individuals and...
View ArticleEffective "too big to fail" remedy requires more work globally, say regulators
Reforms to the world's financial system still fall short of ensuring that big and systemically important banks will not need to be bailed out by governments if they fail, regulators say. Tougher...
View ArticleU.S. SEC stumbles in Deloitte's Chinese audit case
U.S. securities regulators faltered at times in federal court on Wednesday as they sought to convince a judge to force a Chinese unit of audit firm Deloitte to hand over documents in connection with a...
View ArticleU.S. extends waivers on Iran sanctions to 11 countries
The United States extended 180-day waivers on Iran sanctions to Japan and 10 European Union nations in exchange for their cutting purchases of the OPEC nation's crude oil, Secretary of State John Kerry...
View ArticleU.S.-China anti-tax evasion deal seen as crucial, but elusive
The success of a broad U.S. crackdown on offshore tax dodging will be determined in part by China's cooperation, but talks with Chinese officials are making little headway, former U.S. Treasury...
View ArticleJPMorgan execs, but not Dimon, to testify on 'Whale' trade
Current and former top executives of JPMorgan Chase & Co will appear before a U.S. Senate panel on Friday to testify about the multibillion dollar "London Whale" trading loss, but Chief Executive...
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