U.S. derivatives regulator CFTC probes commodity swaps trades
The top U.S. derivatives regulator is probing the legality of a large number of trades in energy and metals markets, asking the largest banks for data going back to 2010, the Financial Times reported...
View ArticleFINRA sanctions National Bank of Canada brokerage unit over outsourcing...
The Financial Industry Regulatory Authority has sanctioned National Bank of Canada Financial, Inc., an indirect broker-dealer subsidiary of the National Bank of Canada, for improperly outsourcing its...
View ArticleCYBERSECURITY SUMMIT: FBI says more cooperation with banks key to probe of...
The FBI last month gave temporary security clearances to scores of U.S. bank executives to brief them on the investigation into the cyber attacks that have repeatedly disrupted online banking websites...
View ArticleEU probes oil majors on price manipulation
European authorities have raided offices of oil majors Shell, BP and Statoil in an investigation of suspected manipulation of oil prices, one of the biggest cross-border actions since the Libor rigging...
View ArticleSingapore steps up international cooperation on tax evasion
Singapore, the world's fourth-biggest offshore financial centre, said on Tuesday it will adopt new measures to make it easier to share information on potential tax evaders with other countries,...
View ArticleEurope pushes Switzerland to end bank secrecy
European Union finance ministers gave the green light on Tuesday to start talks with Switzerland and Liechtenstein about surrendering bank data, as Europe stepped up its fight against tax evasion. The...
View ArticleU.S. Sen. Warren wants bank settlements to be justified
An outspoken freshman U.S. senator with a record of taking on Wall Street wants financial regulators and federal prosecutors to provide an economic justification for allowing big banks to settle...
View ArticleDuo of senators plead with SEC to take action on credit raters
A bipartisan pair of U.S. senators urged federal securities regulators to move quickly on fundamental changes to how credit-rating agencies are compensated, a step they said will reduce the type of...
View ArticleU.S. Justice Dept. cracks down on Medicare fraud and related money laundering...
Dozens of people in cities across the country have been charged with conspiracy, health care fraud, money laundering and other charges for their alleged roles in unrelated schemes that attempted to...
View ArticleCFTC brings first action over new retail forex dealer net capital rules
The Commodity Futures Trading Commission on Tuesday sanctioned MB Trading Futures Inc., a CFTC-registered retail foreign exchange dealer ("RFED") and futures commission merchant ("FCM"), for failing to...
View ArticleCYBERSECURITY SUMMIT: Board directors must stay vigilant, spend money to...
Corporate directors must be constantly evaluating the risks to their firms of computer intrusions and disruption, and be willing to spend money on protecting their systems from growing threats, the...
View ArticleRegulators set September deadline for derivatives deal
Financial regulators have given themselves until September to try to resolve differences over how to supervise derivatives markets in the wake of the financial crisis, a U.S. watchdog said on...
View ArticleJPMorgan presses Bloomberg on reporters' access to data
JPMorgan Chase & Co, one of the biggest customers of Bloomberg LP, said on Wednesday it has sent a formal legal request asking the financial data and news company to provide details of what bank...
View ArticleSEC taps Boston lawyer to run unit overseeing company disclosures
U.S. Securities and Exchange Commission Chair Mary Jo White has chosen a Boston-based lawyer to direct the agency's Corporation Finance division, in the latest major personnel change since she took the...
View ArticleU.S. FDIC's Gruenberg joins call for higher bank capital
Limits on how much banks can borrow may need to be tougher, a top U.S. banking official said on Wednesday, the latest in a growing group of regulators to call for big banks to set aside more equity to...
View ArticleCyprus banks more vulnerable to money laundering than previously thought...
Cyprus's banking system, which is being restructured under an international bailout, is more vulnerable to money laundering than previously thought, a report commissioned as a condition of the rescue...
View ArticleNo bank is 'too big to jail,' U.S. Attorney General Holder warns
Corruption, cyber threats and transnational organized crime – and the money laundering that greases the wheels of illicit commerce – are high on the list of law enforcement priorities, U.S. Attorney...
View ArticleCanadian bank regulator to implement new regulatory reporting system
Canada's banking regulator, the Office of the Superintendent of Financial Institutions (OSFI) will implement its new regulatory reporting framework in September 2013. In a letter to banks, the OSFI...
View ArticleWells Fargo ordered to pay $203 million in overdraft case
A federal judge has again ordered Wells Fargo & Co to pay $203 million to settle class action litigation accusing it of imposing excessive overdraft fees on checking account customers, reviving an...
View ArticleGoldman ordered by arbitrator to pay investor $2.5 million in private-equity...
Goldman Sachs & Co must pay more than $2.5 million to an investor who alleged the firm recommended an unsuitable investment in a private equity fund, a securities arbitration panel has ruled. The...
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