Ex-PIMCO executive sues firm, says was fired for reporting misdeeds
A former junk bond portfolio manager at PIMCO, the $2 trillion money management firm, claimed he was fired last year in retaliation for reporting financial misconduct at the firm to U.S. regulators,...
View ArticleU.S. bank regulator OCC warns of fake correspondence in its name
The Office of Comptroller of the Currency warned that fake correspondence regarding funds purportedly under the agency's control and other U.S. government entities is in circulation. The agency stated...
View ArticleCommunity banking recovering from crisis, supervision burdens to ease, FDIC...
The banking industry has largely recovered from the financial crisis, and FDIC initiatives will make its supervision of community banking less costly and burdensome, Federal Deposit Insurance...
View ArticleU.S. regulator sides with big banks on avoiding break-up votes by shareholders
U.S. regulators have agreed with four of the country's biggest banks that they will not have to hold shareholder votes at upcoming annual meetings over whether the institutions are too big. The...
View ArticleU.S. CFTC looking at London gold, silver fix - report
The top U.S. derivatives regulator has started internal discussions on whether the daily setting of gold and silver prices in London is open to manipulation, the Wall Street Journal reported, citing...
View ArticleMassachusetts fines Deutsche Bank $17.5 million over CDO conflicts
Massachusetts on Wednesday fined Deutsche Bank AG $17.5 million, saying it deceived clients in creating and marketing $10 billion worth of collateralized debt obligations. Secretary of the Commonwealth...
View ArticleSEC ends $270 million-plus Prudential Securities market-timing cases with...
The Securities and Exchange Commission on Tuesday closed its files with a judgment for some $763,000 in a case involving the first broker-dealer to enter into a deferred prosecution agreement with the...
View ArticleEXCLUSIVE: U.S. plans to let spy agencies comb through Bank Secrecy Act reports
The Obama administration is drawing up plans to give all U.S. spy agencies full access to a massive database that contains financial data on American citizens and others who bank in the country,...
View ArticleCanadian securities regulators propose framework for shareholder rights plans
The Canadian Securities Administrators (CSA) today published for comment proposed National Instrument 62-105 Security Holder Rights Plans (PDF), which would establish a comprehensive regulatory...
View ArticleCanadian securities regulators adopt amendments to prospectus rules
The Canadian Securities Administrators (CSA) have announced amendments to National Instrument (NI) 41-101 General Prospectus Requirements, NI 44-101 Short Form Prospectus Distributions, NI 44-102 Shelf...
View ArticleU.S. CFTC reviewing how it grants access to nonpublic data
The internal watchdog at the U.S. Commodity Futures Trading Commission is looking into whether the agency has been too lax in granting outside academics access to non-public market data to assist with...
View ArticleGoldman wins $1.4 million FINRA arbitration case filed by debt fund investor
An investor who claimed that Goldman Sachs & Co misrepresented the risks of a distressed debt fund has lost a $1.4 million securities arbitration case against the brokerage and two of its advisers,...
View ArticleCFTC's early talks on London gold, silver price-setting not "same level" as...
The U.S. Commodity Futures Trading Commission has engaged in "a couple" of conversations about whether the daily setting of gold and silver prices in London is open to manipulation, Commissioner Scott...
View ArticleCFPB wants to supervise more student loan servicers
The Consumer Financial Protection Bureau said on Thursday that it is seeking to regulate non-bank student loan servicing companies as more Americans struggle to meet hefty monthly repayments. Once a...
View ArticleFATF sets out guidance on AML risk assessments
The Financial Action Task Force (FATF) has set out new guidance to help countries make appropriate risk assessments for anti-money laundering and terrorist financing purposes. The global standard...
View ArticleSenate report blames senior JPMorgan management in Whale losses, gives Volker...
Senior managers at JPMorgan Chase & Co, including Chief Investment Officer Ina Drew, were told for months about the bad derivatives bets that ended up costing the bank $6.2 billion but did little...
View ArticleJudge rules U.S. SEC can withhold FINRA records
A federal judge ruled on Thursday that U.S. securities regulators do not need to publicly release records of their oversight of the Financial Industry Regulatory Authority, a brokerage industry...
View ArticleGreek businessman acted as front for Iranian oil sales, U.S. Treasury...
The U.S. Treasury Department on Thursday blacklisted a Greek businessman who it said funneled Iranian money through his companies to buy oil tankers and hid the origin of Iranian oil transported on the...
View ArticleFed tells JPMorgan, Goldman to improve capital plans, vetoes two other big...
In a blow to two major Wall Street banks, the Federal Reserve told Goldman Sachs Group Inc and JPMorgan Chase & Co that they must fix flaws in how they determine capital payouts to shareholders,...
View ArticleExpanding compliance role risks expectations-vs-performance gap -U.S. trade...
Expanding duties placed on compliance officers by both supervisors and new rules have raised expectations for the role and expanded it into new sectors such as risk, but the resources to do the job...
View Article