INTL FCStone joins chorus of critics against CFTC margin rule
New rules proposed by U.S. regulators will increase costs and inflict long-term damage on commodity futures brokers and their customers, INTL FCStone Inc executives said on Thursday, adding to growing...
View ArticleU.S. swaps regulator to meet on trading rules next week
The top U.S. derivatives regulator will discuss next week keenly awaited rules for swaps trading that have the potential to weaken Wall Street's dominant position in the $650 trillion market. The...
View ArticleJPMorgan sued by California over 'illegal' debt collections
California's attorney general sued JPMorgan Chase & Co on Thursday, accusing the company of falsely signing documents to unlawfully collect credit card debt from thousands of customers. The lawsuit...
View ArticleTarget broker-dealer capital in big-bank resolution process, U.S. Fed...
A senior Federal Reserve official wants broker-dealers to hold more capital, and be more closely watched by prudential regulators. He opposed as arbitrary recent proposals to sharply raise bank capital...
View ArticleFeds sideline billionaire Falcone from fund business
One-time star money manager Philip Falcone will be barred from starting another hedge fund for two years as he winds down his existing fund and returns money to investors, under a preliminary deal with...
View ArticleTexas man conspired with others to launder Zetas cartel cash through U.S....
A federal jury in Austin, Texas on Thursday convicted the brother of two alleged leaders of Mexico's Zetas drug cartel of laundering millions of dollars by purchasing, training, breeding and racing...
View ArticleFor banks in cyber heist, how to get their money back?
Because the sums were large and such attacks are relatively new, the two Middle East banks hit in a $45 million ATM heist face an uncertain path in trying to recover their losses, financial, insurance...
View ArticlePrepaid debit cards: a weak link in bank security
A brazen gang of cyber criminals, who stole $45 million from bank ATMs in 27 countries, exposes an Achilles heel in the global financial industry: prepaid debit cards. Cyber security experts and...
View ArticleShadow banking risks persist, Fed's Bernanke warns
U.S. Federal Reserve Chairman Ben Bernanke said on Friday that the shadow banking system still posed a threat to financial stability, and funding markets might still not be able to cope with a major...
View ArticleFed queries Bloomberg over reporters' access to client data
Bloomberg LP customers, including the U.S. Federal Reserve and the U.S. Treasury, were examining on Saturday whether there could have been leaks of confidential information, even as the media company...
View ArticleSEC warns advisers, funds to comply with governance conditions in exemptive...
Investment advisers and investment companies that receive and rely on exemptive orders should adopt and implement policies and procedures to ensure "ongoing compliance with each representation and...
View ArticleINTERVIEW: SEC commissioner Walter to munis: individual fraud charges possible
Federal securities regulators will not shy away from charging individual city or state officials with fraud if a case calls for it, a commissioner of the U.S. Securities and Exchange, Elisse Walter,...
View ArticleMajor market operators to build cash pool for derivatives trades
Two of the world's biggest market infrastructure companies are joining forces to help banks track down enough cash to underpin their derivatives trades, spurred by new regulation that aims to make safe...
View ArticleLevel Global co-founder gets 6-1/2 years prison insider trading
Hedge Fund Level Global Investors LP co-founder Anthony Chiasson was sentenced on Monday to 6-1/2 years in prison for insider trading. At a court hearing in Manhattan, U.S. District Judge Richard...
View ArticleColorado man who laundered meth proceeds through Wells Fargo 'funnel' account...
A Colorado man on Monday was sentenced to more than 15 years in prison for peddling methamphetamine in Alaska and laundering the proceeds, federal prosecutors in Fairbanks, Alaska said. Mario...
View ArticleU.S. banks push back on change in loan loss accounting
More than a dozen of the biggest U.S. banks have questioned a proposed accounting change meant to boost reserves for risky loans, saying the results would be vastly different from those of a similar...
View ArticleE-mails show lobbyists underpinned Height Securities market-moving report...
The researcher whose report prompted a spike in health stocks last month appears to have relied on lobbyists rather than U.S. government insiders who had direct knowledge of a pending healthcare...
View ArticleSEC chair agrees with calls for U.S. stock market review - official
The head of the Securities and Exchange Commission, Mary Jo White, is on board with calls for a broad review of the framework of the U.S. equity market, which has been roiled by software glitches over...
View ArticleBarclays wins dismissal of U.S. shareholder lawsuit over Libor
Barclays Plc, the first bank to settle with authorities over alleged manipulation of the Libor interest rate, on Monday won the dismissal of a U.S. lawsuit by shareholders who claimed they lost money...
View ArticleBig banks pose more systemic risk than commodity traders, global report finds
A study commissioned by a global banking lobby group has found that banks pose a greater systemic risk than their commodity trading house competitors do and the report has not been made public, its...
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