U.S. regulators missed chance to reform money market funds - former BofA...
She didn’t get the job, but if Sallie Krawcheck were running the Securities and Exchange Commission she knows where her priorities would lie. The former head of Bank of America Corp’s global wealth and...
View ArticleNew York to sue HSBC over foreclosure abuses
The state of New York plans to sue HSBC Holdings Plc for ignoring a law designed to protect struggling homeowners from being thrown into foreclosure without getting a chance to renegotiate their...
View ArticleSEC sounds alert on sales to non-accredited investors in unregistered...
With interest growing in raising capital through private placements under the JOBS – Jumpstart Our Business Startups – Act, the Securities and Exchange Commission has warned companies against using...
View ArticleUBS unit to pay $5.3 million to settle SEC charge over short sales
A UBS AG hedge fund agreed to pay a fine of $5.3 million to settle a charge that one of its units bought stocks in public offerings that an affiliated unit was shorting, the U.S. securities regulator...
View ArticleU.S. regulators propose scrutiny of AIG, Prudential, GE Capital as...
U.S. regulators on Monday proposed designating American International Group Inc, Prudential Financial Inc and GE Capital for heightened regulatory oversight, in a long-anticipated move aimed at...
View ArticlePlatts, rivals ask for exemption from benchmark regulations
Leading commodity price reporting agencies have called on global regulators to exempt them from new rules aimed at preventing financial benchmark manipulations, arguing that it would reduce liquidity...
View ArticleHSBC sued by New York over foreclosure abuses
New York state sued HSBC Holdings Plc for ignoring a law designed to protect struggling homeowners from being thrown into foreclosure without getting a chance to renegotiate their mortgages. The...
View ArticlePEPwatch: Former Atlanta school official faces corruption and laundering...
A former public school official in Atlanta has been indicted on conspiracy, fraud, corruption and money laundering charges for allegedly accepting bribes in exchange for an IT contract worth nearly...
View ArticleBlocked treaties a concern ahead of FATCA tax-evasion law - U.S. Treasury
A lone Republican lawmaker blocking Senate votes on several tax treaties is a concern, but won't stop a new anti-tax evasion law from taking effect in 2014, a U.S. Treasury Department official said on...
View ArticleEx-Goldman VP Tourre loses bid to narrow fraud case in victory for SEC over...
Former Goldman Sachs Group Inc Vice President Fabrice Tourre lost a bid to limit a U.S. Securities and Exchange Commission civil fraud case against him over a transaction that led to a $550 million...
View ArticleFINRA sanctions Wells Fargo, Merrill over mutual fund suitability, sales...
The Financial Industry Regulatory Authority on Monday sanctioned Wells Fargo Advisors, LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated over unsuitable sales of floating-rate bank loan...
View ArticleSUMMIT: FINRA to warn investors on alternative securities
Wall Street's industry-funded watchdog will soon publish the latest in a series of warnings to investors, this time about the risks of alternative securities, its chief said on Tuesday. Low interest...
View ArticleFinancial industry anxious for clarity on swap-facility rules; business...
The financial industry is scrambling to understand the Commodity Futures Trading Commission's final rules for firms trading derivatives on an electronic platform. Representatives say several aspects of...
View ArticleCFTC sues Bancorp over Peregrine's customer funds; bank blames CFTC for...
The Commodity Futures Trading Commission on Tuesday sued U.S. Bank National Association for unlawfully using and holding customer segregated funds that were misused by Russell R. Wasendorf Sr. before...
View ArticleIFRS adoption still prudent despite pushback from some regulators, conference...
The adoption of international financial reporting standards remains a goal worth striving for, despite resistance from some financial authorities, said industry officials at an accounting event in Hong...
View ArticleBrussels proposal seeks to hand Libor supervision to European body, says FT
The European Commission is going to suggest stripping London of its control over the scandal-hit Libor lending rate and hand over supervision to the Paris-based European Securities and Markets...
View ArticleGlobal $200 million credit card hacking ring busted; 11 arrested
Eleven people in the United States, the UK and Vietnam have been arrested and accused of running a $200 million worldwide credit card fraud ring, U.S. and UK law enforcement officials said on...
View ArticleU.S. renews Iran sanctions waivers for China, India, others
The U.S. State Department on Wednesday renewed six-month waivers on Iran sanctions for China, India and seven other economies in exchange for their agreeing to reduce purchases of oil from Iran. "The...
View ArticleDemocratic U.S. lawmaker introduces bill that would force big banks to hold...
A senior Democratic lawmaker has introduced legislation that would force big banks to hold more capital to insure against the possibility of the government bailing them out in the event that they fail....
View ArticleU.S. Treasury Department targets Central American gang Mara Salvatrucha
The U.S. Treasury Department on Wednesday blacklisted six members of the Salvadoran gang Mara Salvatrucha as part of its effort to target the leadership of global criminal organizations. The sanctions...
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