Top U.S. regulator wants Libor and Euribor scrapped
Two interest rate benchmarks that banks were fined for rigging should be scrapped and replaced by indicators based on market transactions, a top U.S. regulator said on Monday. The changes should also...
View ArticleWhite House lawyer seen as leading pick for top SEC legal post
A White House attorney is a leading candidate to become the top lawyer for the U.S. Securities and Exchange Commission, according to people familiar with the matter. Anne Small, a special assistant and...
View ArticleEU's Barnier warns U.S. over 'radical' new bank rule
A U.S. plan to force foreign banks to hold far more capital could sow discord among supervisors and lead to retaliation from abroad, European Union financial services czar Michel Barnier said on...
View ArticleFINRA names new regulatory operations head
The head of the Financial Industry Regulatory Authority's member sales practice unit will take on a broader role, overseeing several departments, including fraud detection, market intelligence and...
View ArticleTwo former prosecutors named to head U.S. SEC enforcement
The U.S. Securities and Exchange Commission has named two former federal prosecutors as co-heads of enforcement, in one of new agency chief Mary Jo White's first actions on the job. George Canellos and...
View ArticleInvestment adviser must pay Schwab $4.1 million for options error
An Arizona-based investment adviser must pay a unit of Charles Schwab Corp a total of slightly over $4.1 million in damages stemming from an options trading error, according to a securities arbitration...
View ArticleNew rules to wipe out $17 billion in bank trading revenue - report
New regulations will wipe out $17 billion in trading revenue for global investment banks and force some to exit the bond trading business entirely, according to a Deutsche Bank report released on...
View ArticleIsrael securities regulator seeking ways to boost market liquidity
Israel's securities regulator will study ways to boost trading and liquidity in its capital markets, to help companies access funding, it said on Tuesday. Israel Securities Authority (ISA) chairman...
View ArticleSEC's Gallagher says agency looking into bogus AP tweet
The U.S. Securities and Exchange Commission is looking into a "bogus" tweet on the Associated Press Twitter account that sent markets into a tailspin on Tuesday, SEC Commissioner Daniel Gallagher said....
View ArticleSEC sanctions private fund adviser over fraudulent affiliated transactions
The Securities and Exchange Commission has sanctioned an investment adviser and its principal for fraudulently diverting money from one fund they advised to satisfy significant redemption requests by...
View ArticleUS consumer bureau calls payday loans a trap, warns of new rules
The U.S. consumer watchdog said high-cost, short-term loans often trap borrowers in a cycle of debt, warning in a report on Wednesday that new rules could be on the way for payday lenders and banks...
View ArticleNew chairman of U.S. accounting standards body named
An insider known as a calming force was chosen on Tuesday to be the new chief steward of U.S. corporate accounting standards at a challenging time for those who keep corporate America's books. Russell...
View ArticleLawmakers to unveil bill that would force too-big-to-fail banks to hold more...
A bi-partisan bill that would force too-big-to-fail banks to set aside capital for the event that they have to be wound down was set to be unveiled by U.S. lawmakers on Wednesday. The bill, called the...
View ArticleSEC taps White House attorney to be general counsel
The U.S. Securities and Exchange Commission tapped White House attorney Anne Small on Tuesday to become its general counsel, marking the first time a woman has served in that role at the agency. This...
View ArticleCorzine sued by MF Global trustee over firm's collapse
Jon Corzine was sued by the bankruptcy trustee liquidating MF Global Holdings Ltd, who accused the former chief executive of negligently pursuing a high-risk business strategy that culminated in the...
View ArticleU.S. Treasury uses PATRIOT Act powers to target Lebanese exchange houses
The U.S. Treasury Department on Tuesday invoked a seldom-used PATRIOT Act power to cut off from the U.S. financial system two Lebanese exchange houses that allegedly have helped launder millions of...
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View ArticleSEC looks to ease rules for launching ETFs
The Securities and Exchange Commission may revive a proposal that would make it easier and cheaper to launch certain kinds of exchange-traded funds, according to interviews with SEC staff. Amid fast...
View ArticleIsraeli regulators need overhaul to cut red tape -govt panel
Israeli regulators should work together more closely to weed out unnecessary rules, a panel charged by the government with improving business regulation said on Wednesday. The proposals, which are...
View ArticleSchwab website back to normal after second cyber attack
Charles Schwab Corp said it was the target of a cyber attack that prevented access to its website intermittently for about an hour on Wednesday, the second such attack in as many days, but that the...
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