U.S. Senate duo dials back anti-big bank proposal
Legislation to force U.S. banks to drastically raise their capital buffers - a proposal that has been criticized as a veiled attempt to break up the biggest banks - was presented in a slightly weakened...
View ArticleU.S. can sue BNY Mellon over currency trades under 1989 FIRREA law, judge rules
A federal judge said on Wednesday the U.S. government can proceed with a lawsuit accusing Bank of New York Mellon Corp of overcharging clients for trading currencies, a case brought under a rarely-used...
View ArticleSupervisors seek new market surveillance tools to detect manipulation
Advanced surveillance processes are needed to find abuse or manipulation, given faster trading speeds and new market technology, the main body of national market regulators reported. Monitoring by...
View ArticleEXCLUSIVE: FBI looks to financial services industry for data on alleged...
The Federal Bureau of Investigation has turned to U.S. banks, broker-dealers and other financial institutions for help in its financial investigation of the the Boston Marathon bombing suspects,...
View ArticleFINRA withdraws plan requiring broker disclosure link
The Financial Industry Regulatory Authority (FINRA) has withdrawn a proposal designed to make it easier for investors to research the backgrounds of brokerage firms and brokers, but said it would...
View ArticleACCELUS SUMMIT:EX-US SEC chief Pitt warns imposing regulations abroad, urges...
The United States should recognize it can no longer impose its regulatory solutions on the rest of the world, former U.S. Securities and Exchange Commission head Harvey Pitt said on Thursday. “The time...
View ArticleHKMA does not regulate company secretarial firms, says AML head
The anti-money laundering (AML) head of Hong Kong's banking regulator said on Thursday that firms providing company secretarial and trust services – which are widely regarded as a risk factor for AML...
View ArticleJapan regulator probes US asset manager over missing funds -source
Japan's securities watchdog is investigating a U.S.-based investment company on suspicion that it falsified performance reports and could not account for the bulk of its $1.4 billion in disclosed...
View ArticleMan used JOBS Act to lure investors into fraud scheme, SEC says
The Securities and Exchange Commission on Thursday filed charges against a man accused of luring investors into a fraudulent investment scheme by promising big returns under a provision of the 2012...
View ArticleU.S. Treasury Department fines Toyota Motor Credit for alleged sanctions...
The U.S. Treasury Department has fined the Toyota Motor Credit Corporation for allegedly failing to block and report dozens of loan payment transactions involving a woman blacklisted for her purported...
View ArticleFormer Wells Fargo banker accused of stealing and laundering customer funds
A former Wells Fargo banker faces charges of fraud, identity theft, money laundering and other crimes for allegedly stealing hundreds of thousands of dollars from customer accounts, according to an...
View ArticleCyber attacks, runs on shadow-bank system are a major threat to financial...
Cyber attacks can seriously damage financial services firms in a wide variety of ways and comprise one of the major threats they face, U.S. regulators in charge of monitoring risks to the financial...
View ArticleU.S. bank regulators propose supervisory guidance on deposit advance products
The Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) have separately issued supervisory guidance to their respective institutions that do or intend...
View ArticleACCELUS SUMMIT: FATCA compliance is a manageable challenge, but deadlines loom
A U.S. law to improve tax compliance by U.S. taxpayers with foreign financial assets is creating confusion for foreign financial institutions that must cooperate with the Internal Revenue Service to...
View ArticleACCELUS SUMMIT: Pitt's tips: 13 pointers for compliance pros from former SEC...
Distilling decades of experience as a top government regulator and financial industry consultant into 10 tips for compliance professionals proved too taxing for former Securities and Exchange...
View ArticleUPDATE: German, UK banks slam U.S. plans to toughen capital rules
German and British banking lobby groups on Monday slammed plans by U.S. regulators to toughen rules on foreign banks, saying they risk fragmenting banking supervision and causing major disruption to...
View ArticleMexican derivatives to face new regulation, central bank head says
Mexican authorities are developing new derivatives rules in line with international standards, which aim to boost transparency and limit risk in the opaque market, Mexico's central bank governor said...
View ArticleU.S. IRS may be missing offshore tax evasion - government watchdog
The U.S. Internal Revenue Service may be missing potential tax dodgers who report their foreign accounts but who avoid paying penalties by not reporting previous years' returns, a government watchdog...
View ArticleU.S. SEC turning to technology to spot accounting abuses
The top U.S. securities regulator will ramp up its use of technology to analyze public securities filings for potential accounting abuses, one of its enforcement heads said on Friday. George Canellos,...
View ArticleRegulator modifies enforcement order against Florida bank to address...
A federal bank regulator on Friday made public a March enforcement action requiring South Florida-based TransCapital Bank to correct weaknesses in its Bank Secrecy Act compliance program. This action...
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