Exclusive:U.S. Justice Department starts probe into Wall Street metals...
The U.S. Department of Justice has started a preliminary probe into the metals warehousing industry following complaints that storage firms owned by Wall Street banks and major traders have inflated...
View ArticleNew York regulator expands probe into reinsurers' Iran ties
New York's top financial regulator has expanded a probe into whether reinsurance companies have written policies on international trade with Iran, which could potentially violate new U.S. sanctions. In...
View ArticleFINRA sanctions compliance officer over disclosures, supervision
Supervisory and compliance professionals at broker-dealers that raise funds through private offerings, especially for affiliated entities, should scrupulously comply with the offering's disclosures and...
View ArticleU.S. Justice Department expected on Thursday to charge SAC Capital in...
U.S. federal prosecutors are preparing to announce criminal charges on Thursday against the hedge fund of billionaire trader Steven A. Cohen even as they continue seeking ways to build a criminal case...
View ArticleFSB to hold October workshop on common data template for systemic banks
The Financial Stability Board plans to hold a "data gaps workshop" in New York October 2-3 with all global systemically important banks (G-SIBs) and relevant industry bodies. At the workshop the FSB...
View ArticleCanadian securities regulators enter supervisory pacts with EU and EEA...
The securities commissions of Ontario, Quebec, Alberta, and British Columbia today on Thursday announced that they have entered into supervisory Memorandums of Understanding (MOUs) with financial...
View ArticleCanadian securities regulators will not implement proposed rule for venture...
The Canadian Securities Administrators (CSA) on Thursday announced that they will not pursue the implementation of proposed National Instrument 51-103 Ongoing Governance and Disclosure Requirements for...
View ArticleU.S. indicts hackers in global cyber fraud case, biggest in history
Federal prosecutors said on Thursday they have charged five men responsible for a hacking and credit card fraud spree that cost companies more $300 million and two of the suspects are in custody, in...
View ArticleU.S. charges hedge fund giant SAC Capital with insider trading crimes
U.S. prosecutors indicted billionaire Steven A. Cohen’s hedge fund for insider trading, a rare move that could end the career of one of Wall Street's most successful investors and trigger a fundamental...
View ArticleThe Risk Report: White-collar criminals have 'moral justification', say...
A study into white-collar criminals who each stole at least $90,000 from their employers found they considered themselves to have high morals and believed they would eventually repay the money, says...
View ArticleCollateral squeeze could increase risks, says study
A collateral shortage could prompt a race-to-the-bottom for the quality of assets that financial institutions are willing to accept, suggest the results of a recent collateral management study....
View ArticleSEC to consider municipal advisers in 'near term'-commissioner
The U.S. Securities and Exchange Commission will likely unveil and vote on a long-awaited definition of municipal advisers soon, but the timing depends on two new commissioners joining the federal...
View ArticleVeteran IRS tax analyst helped drug traffickers launder ill-gotten gains,...
A veteran Internal Revenue Service tax analyst on Thursday was indicted on money laundering charges for allegedly conspiring to engage in financial transactions involving the proceeds of marijuana...
View ArticleFutures regulator NFA sanctions chief compliance officer over supervisory and...
The National Futures Association on Wednesday sanctioned James E. Green, the chief compliance officer of FX Direct Dealer LLC, a retail forex – or foreign currency exchange – dealer for failing to...
View ArticleProsecutors seek money laundering penalties against SAC Capital and related...
In addition to bringing insider-trading charges against the hedge fund SAC Capital Advisors LP, federal prosecutors in Manhattan on Thursday also filed a civil complaint that seeks an unspecified...
View ArticleGlobal banks shiver as UBS swallows $885 million U.S. fine over mortgage deals
UBS will pay $885 million in a settlement with a U.S. regulators over allegations the Swiss bank misrepresented mortgage-backed bonds during the housing bubble, paving the way for billions more to be...
View ArticleGMAC Mortgage to pay $230 million as part of foreclosure review
The Federal Reserve said on Friday that GMAC Mortgage will make $230 million in cash payments to borrowers, in a move that will end an independent, case-by-case review of potentially flawed...
View ArticleSAC Capital pleads not guilty; reinsurance unit eyed
Billionaire investor Steven A. Cohen's hedge fund pleaded not guilty on Friday to insider trading charges in federal court, as questions also surfaced about the future of SAC Capital's Bermuda-based...
View ArticleElectronic calendar entries at heart of SEC insider trading case against head...
The Securities and Exchange Commission on Friday charged Stephen B. Gray, formerly chief executive of an investor relations firm, with insider trading, saying his electronic calendar contained...
View ArticleLibor, Platts probe deter metal traders from revealing prices
Traders at commodity heavyweights JPMorgan, Mitsubishi Corp and Trafigura are declining to give price assessments to reporting agencies for key metals like copper and aluminium in the wake of the Libor...
View Article