Morgan Stanley sues high-producing brokers for jump to Stifel, in test of...
Morgan Stanley has asked an Idaho court to prohibit three brokers it says generated over half the revenue at its Coeur d'Alene branch from contacting former colleagues about joining them at a Stifel...
View ArticleBREAKINGVIEWS: Switzerland succumbs to plea bargainer's dilemma
When the prosecutor has a strong case, defence lawyers generally counsel cooperation in return for a less harsh sentence. The Swiss government seems to be proposing a similar plea bargain in its...
View ArticleEU markets overseer accepts pacts with third-country regulators ahead of new...
The European Securities and Markets Authority has approved cooperation arrangements between EU securities regulators that supervise alternative investment funds (AIFs) and 34 of their counterparts in...
View ArticleOECD drive against tax avoidance gets fresh backing
The days when multinational companies could exploit fiscal loopholes to escape tax could soon be numbered, after governments gave the OECD strong backing to design an international clampdown on...
View ArticleCanadian securities regulators adopt 'pre-marketing' and 'marketing'...
The Canadian Securities Administrators (CSA) today published amendments to National Instrument 41-101 General Prospectus Requirements and other rules and related policies. The amendments will increase...
View ArticleCanada to impose new Iran sanctions
Canada has imposed additional sanctions on the Islamic Republic of Iran, further strengthening the country's existing sanctions regime. The federal government this week announced forthcoming amendments...
View ArticleU.S. banks can process payments from Iranians for mobile phones, Internet...
U.S. banks and broker-dealers can now process payments by Iranians purchasing mobile phones, laptops, and other communications equipment and software if the goods are for personal use and no Iranian...
View ArticleCFTC fines broker $1 million for role in fraud that cost Bank of Montreal...
The Commodity Futures Trading Commission has fined an option broker $1 million for his role in a scheme that allowed a former trader at the Bank of Montreal to defraud the bank of $680 million...
View ArticleU.S. SEC taking steps to watch for money market fund outflows
The U.S. Securities and Exchange Commission is taking steps to help spot if money starts flowing to alternative investments as the SEC cracks down on money market funds. The SEC is due to meet next...
View ArticleU.S. consumers lack basic financial knowledge even as they grow more open to...
Most Americans lack essential knowledge to effectively manage their finances even as their willingness to take on financial risk edged higher than it was three years ago in the immediate aftermath of...
View ArticleSwiss banks break ranks as U.S. tax probe bites
The unified front with which Switzerland's banks have defended their culture of secrecy is breaking down as some prepare to hand over data in a U.S. tax evasion probe, leaving others at greater risk of...
View ArticleNew Vatican bank head vows zero tolerance with suspect accounts, hires U.S....
The Vatican bank is checking the account of every client including Holy See employees, its new chief said, in a campaign to root out any money-laundering at an institution prone to scandals for...
View ArticleBIS lays out "simple" plan for how to handle bank failures
Central bank forum the Bank for International Settlements laid out a blueprint on Sunday for how to recapitalise a major lender in the event of a failure, seeking to avoid the sort of chaotic ad hoc...
View ArticleFed's Yellen joins chorus: big banks may need more capital than Basel requires
Tougher borrowing limits may be needed for too-big-to-fail banks, the No. 2 official at the Federal Reserve said on Monday, adding her voice to a growing chorus of U.S. regulators looking to go beyond...
View ArticleCFPB expands complaints database to allow consumers to search by state
The Consumer Financial Protection Bureau is expanding its complaints database to allow consumers to search for complaints on a state-by-state basis. Consumers will now be able to search the state that...
View ArticleNYSE asks U.S. SEC to reinstate volatility curbs
NYSE Euronext asked U.S. regulators on Friday to allow it to reintroduce rules to curb excessive trading volatility after several New York Stock Exchange-listed securities recently experienced sharp...
View ArticleOntario Securities Commission cracks down on errant money managers
The Ontario Securities Commission said its biggest targeted sweep of portfolio managers and exempt market dealers found that many did not abide by rules meant to protect investors. Exempt market...
View ArticleMorgan Stanley head of rates fined, suspended by CME Group over trades in 2008
CME Group Inc confirmed it fined Morgan Stanley's global head of rates on Friday over transactions in Treasury futures five years ago while he was employed by Goldman Sachs & Co. Edward Glenn...
View ArticleSEC crackdown sweeps "ripe for fraud" stocks off the OTC market
The Securities and Exchange Commission on Monday suspended trading in the securities of 61 empty shell companies that are delinquent in their public filings and seemingly no longer in business. The...
View ArticleSwiss must meet U.S. "diktat" over tax - former Deutsche Bank chief Ackermann...
GENEVA, (Reuters) - Switzerland has no choice but to bow to a U.S. ultimatum and sidestep its banking secrecy laws to end an investigation into how Swiss banks helped wealthy Americans to evade taxes,...
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