FBI's probe over Universal Manila casino focuses on $25 million fee company...
The FBI and Philippine investigators probing potential bribery related to Universal Entertainment Corp's bid to build a casino in Manila have zeroed in on a $25 million payment the Japanese company now...
View ArticleEU survey names debt derivative as riskiest financial product
Beware the credit default swap on certain government bonds. Credit insurance on some sovereign debt is the riskiest financial product out there, posing the greatest threat to investors who buy them and...
View ArticleU.S. court rules FERC cannot fine Amaranth trader Brian Hunter
A federal court on Friday ruled that the chief regulator for electric power does not have the authority to sanction a trader whose bets helped bring down a billion-dollar hedge fund, invalidating a $30...
View ArticleRatings agencies under fire from EU watchdog
The European Union's markets watchdog has criticised the world's top three ratings agencies over a lack of transparency over how they evaluate banks and has demanded more robust internal reviews of...
View ArticleFederal judge rules unconstitutional surveillance "security letters" to...
A federal judge has ruled unconstitutional national security provisions that permit federal investigators to access customer information from companies without court approval. The provisions "suffer...
View ArticleU.S. regulators probing high-speed traders for 'wash trades'
U.S. futures regulators are looking into whether high-speed traders indulged in "wash trading," a strategy in which they improperly buy and sell futures contracts without taking a position in the...
View ArticleEx-JPMorgan investment chief tries to dodge blame for 'whale' losses
Ina Drew, the former JPMorgan Chase & Co executive who earned millions while in charge of the unit that made the disastrous "London whale" trades, refused on Friday to accept responsibility for the...
View ArticleCohen's SAC to pay $616 million in SEC insider trade settlement
Hedge fund titan Steven A. Cohen's firm is paying $615.7 million to settle charges that it improperly traded in two stocks, in what is the largest-ever insider trading settlement, U.S. securities...
View ArticleSEC's new social media guidance for fund companies limits reporting requirements
Securities and Exchange Commission Division of Investment Management staff on Friday offered examples of when fund companies must file social media content with the SEC if filing is not required under...
View ArticleSAC's "historic" insider-trading settlement a compliance lesson for fund...
Settlements on Friday that require several affiliates of the SAC. fund group to pay the Securities and Exchange Commission unprecedented monetary sanctions for insider-trading violations also offer...
View ArticleCitigroup agrees to pay $730 million to settle with investors over disclosures
Citigroup Inc has agreed to pay $730 million to settle a class-action lawsuit on behalf of investors who said they were misled by the company's disclosures. Purchasers of the bank's debt and preferred...
View ArticleCME Group launches interest rate swap clearing in London
CME Group Inc has launched a clearing service for interest rate swaps in London, just one week after U.S. regulators began to phase in long anticipated mandates for rate swap clearing on CME's home...
View ArticleBig banks on track to meet Basel capital rules ahead of time
The world's top banks have made big strides towards meeting tougher capital rules several years before full compliance is required, global regulators said on Tuesday. The new rules known as Basel III...
View ArticleGoldman mortgage appeal rejected by U.S. Supreme Court
Goldman Sachs Group Inc suffered a defeat on Monday as the U.S. Supreme Court let stand a decision forcing it to defend against claims it misled investors about mortgage securities that lost value...
View ArticleGrand jury indicts former Calpers CEO for fraud scheme
A former chief executive of Calpers, the largest U.S. public pension fund, was indicted on federal conspiracy charges in connection with a scheme to commit fraud, the U.S. Department of Justice said on...
View ArticleSEC sanctions a second Portuguese bank for acting as unregistered broker
The Securities and Exchange Commission on Monday sanctioned Banco Comercial Português, S.A. ("BCP"), the second Portuguese commercial bank to face similar sanctions for acting as an unregistered...
View ArticleArgentine agency says it found fraudulent transactions by HSBC
Argentina's tax agency said on Monday it has uncovered 392 million pesos ($77 million) in fraudulent transactions by HSBC Holdings Plc and said it has asked the judicial system to probe the European...
View ArticleGovernment scrutiny of Cohen's SAC is not over after $616 million settlement,...
Steven A. Cohen's SAC Capital Advisors cautioned investors on Monday that last week's settlement with U.S. financial regulators over insider trading charges, does not end the government's scrutiny of...
View ArticleSoftware blocking of "wash sales" needed for high-frequency traders, CFTC...
High frequency traders should be required to use technology that blocks them from making "wash sale" fictitious trades, and their trading should be subject to closer review, Commodity Futures Trading...
View Article"Omnibus" securities accounts create sanctions-busting risk, says U.S official
U.S. efforts to prevent Iran and other countries from evading international sanctions risk being undermined through the use of opaque institutional accounts held by securities brokerages, a U.S....
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