New York to sue Bank of America, Wells Fargo over mortgage practices
New York Attorney General Eric Schneiderman said on Monday he plans to sue Bank of America Corp and Wells Fargo and Co for violating the terms of a settlement designed to end mortgage servicing abuses....
View ArticleU.S. judge blocks FINRA auction rate arbitration case against Citigroup
For the second time in a week, a federal judge has blocked a securities arbitration against Citigroup Inc, allowing the bank to avoid fighting a multi-million dollar case before Financial Industry...
View ArticleFriend of ex-KPMG auditor pleads guilty in insider case
The California jeweler who gave a former KPMG auditor cash, an expensive watch and concert tickets in exchange for inside information about public companies agreed on Monday to plead guilty to one...
View ArticleU.S. regulator mulls setting rules for digital currency Bitcoin
The top U.S. derivatives regulator is considering whether the Bitcoin virtual currency should be subject to its rules, a top official at the agency said. Bart Chilton, one of five commissioners at the...
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View ArticleSEC charges Pennsylvania's Harrisburg with fraud over bond disclosures,...
Federal regulators on Monday accused Pennsylvania’s beleaguered capital, Harrisburg, of committing fraud, in a move that officials said is meant to send a warning to local officials about the accuracy...
View ArticleGlobal body IOSCO to offer regulatory 'toolkit' for overseeing retail...
An international financial regulatory group is considering ways to level the playing field among issuers, intermediaries and investors – and to reduce jurisdictional arbitrage – in connection with...
View ArticleIAIS is to start training new supervisors to fill sometimes acute gap
The International Association of Insurance Supervisors will launch a regular induction seminar for new supervisors. The IAIS seeks a vendor to develop and host the web-based programme, possibly from...
View ArticleVatican bank regulator signs information-sharing deal with U.S.
The regulator of the Vatican bank on Tuesday signed an information-sharing pact with the U.S. agency that tracks suspicious financial transactions, part of an effort by the scandal-ridden bank to...
View ArticleBank of China closes account of key North Korean bank
Bank of China Ltd has shut the account of North Korea's main foreign exchange bank, which was hit with U.S. sanctions in March after Washington accused it of helping finance Pyongyang's nuclear weapons...
View ArticleBritish Columbia securities regulator alleges fraud, illegal distributions,...
The British Columbia Securities Commission (BCSC) has accused a B.C. man of committing fraud, illegally distributing securities and making false statements to commission investigators. The notice of...
View ArticleCanadian investment dealer Scotia Capital pays $65,000 for violating cease...
As part of a settlement agreement with the British Columbia Securities Commission (BCSC), Scotia Capital Inc. has paid $65,000 for trading in securities that were subject to cease trade orders (CTOs)...
View ArticleDodd-Frank rules may force community banks to merge or go out of business,...
A paper titled "The Impact of Dodd-Frank on Community Banks," released by the AEI (American Enterprise Institute) advises a two-tiered regulatory system, where the structural differences between...
View ArticleOntario Securities Commission accuses Toronto analyst of insider trading
The Ontario Securities Commission (OSC) has accused a 28-year old investment bank analyst of insider trading. The OSC alleged that between June 2010 and December 2011, Ming Chao Zhao, also known as...
View ArticleU.S. audit watchdog wants more insider business deal scrutiny
Corporate auditors would be required to look more closely at insider business deals, like those used in many Chinese company frauds, under a rule the U.S. audit regulator proposed on Tuesday. The...
View ArticleTraders at New York broker-dealer, Venezuela official charged in U.S. over...
U.S. prosecutors and securities regulators announced charges on Tuesday against several people including two employees of a New York broker-dealer in connection with an alleged kickback scheme...
View ArticleU.S. charges debt-settlement firm in first criminal case for consumer agency,...
Federal authorities announced fraud charges against a debt settlement company on Tuesday, in the first criminal case based on work by the new U.S. Consumer Financial Protection Bureau. A newly unsealed...
View ArticleU.S. senators seek to block Iran from billion-dollar reserves
Legislation introduced by a bipartisan group of U.S. senators on Wednesday would block Iran's access to billions of dollars worth of foreign currency reserves in the latest congressional effort to slow...
View ArticleU.S. can pursue case against Bank of America over mortgages under...
The United States can pursue parts of a civil lawsuit against Bank of America Corp over its sale of toxic mortgages to Fannie Mae and Freddie Mac, a federal judge said in Wednesday in a ruling that...
View ArticleEnron's Skilling reaches deal for shortened sentence
Jeffrey Skilling, the convicted former Enron Corp chief executive, could be freed from prison a decade earlier than originally expected over his role in bringing down the energy trader, in one of the...
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