Lawyers raise questions over U.S. CFTC's cross-border swaps guidance
Regulatory guidance issued last month by the Commodity Futures Trading Commission for cross-border swaps trading leaves questions unanswered, but for firms in the business, it is time to start...
View ArticleU.S. SEC judge rules Stanford executives are liable for fraud
In a victory for federal regulators, an administrative judge has found three former executives who worked for Allen Stanford's now-defunct brokerage liable for fraud and said they should banned from...
View ArticleU.S. CFTC's Chilton to Fed: Cut banks' ties to commodities
The U.S. Federal Reserve should reverse its policy of allowing investment banks to own metals warehouses and commodity infrastructure assets, a top U.S. derivatives regulator said on Monday. Banks...
View ArticleU.S. regulator seeks $29 million from BP over natural gas trading
U.S. federal energy regulators on Monday ordered BP Plc to respond to allegations of natural gas market manipulation in Texas, threatening the energy company with fines near $29 million. The move...
View ArticleNew York scrutinizes online lenders - WSJ
New York's top financial regulator has sent cease-and-desist orders to online lenders barring them from offering short term, high-rate loans in the state, the Wall Street Journal reported. "The...
View ArticleObama to back mortgage finance reform to speed housing recovery
President Barack Obama will propose overhauling the U.S. mortgage finance system in a speech on Tuesday, weighing in on a tangled and polarizing problem that was central to the devastating financial...
View ArticleNo admit, no deny no guarantee of lesser sanctions, lawyer says
The Securities and Exchange Commission has sustained the Financial Industry Regulatory Authority in fining a broker-dealer and its chief compliance officer – and suspending the CCO – for failing to...
View ArticleHSBC boosts global compliance and AML staff by 1,600, with more to follow
HSBC has increased its global compliance and anti-money laundering workforce by 1,600 persons over the past six months, according to figures released this week. The huge increase follows its much...
View ArticleUBS to pay $49.8 million to settle SEC fraud charges over CDO
UBS AG agreed to pay $49.8 million to settle U.S. Securities and Exchange Commission charges it misled investors about a risky mortgage bond transaction that soured during the financial crisis, the...
View ArticleU.S. accuses Bank of America of mortgage-backed securities fraud
The U.S. government on Tuesday filed two civil lawsuits against Bank of America that accuse the bank of investor fraud in its sale of $850 million of residential mortgage-backed securities. The...
View ArticleSEC not to move against hedge fund Magnetar over mortgages -WSJ
The U.S. securities regulator has decided not to file civil charges against hedge fund firm Magnetar Capital LLC over its role in helping create mortgage securities that lost value during the financial...
View ArticleSEC says ex-Marine bilked vets in Chicago hedge fund fraud
A former Marine masqueraded as a successful hedge fund trader to defraud current and former military personnel, causing the U.S. Securities and Exchange Commission to obtain an emergency asset freeze...
View ArticleEbix says money laundering allegations are false
Ebix Inc. said allegations that it was involved in money laundering were false, after its shares tumbled on a Bloomberg report that federal investigators were reviewing the insurance software maker's...
View ArticleNew take on retro scam may keep compliance officers busy, FINRA warns
Compliance and customer service professionals at brokerages that market or sell certificates of deposit should prepare for inquiries from non-customers as well as customers of their firms if warnings...
View ArticleInterstate marijuana ring laundered proceeds via Bank of America, prosecutors...
An Arizona man and a Missouri man have been indicted for allegedly conspiring to distribute marijuana and launder the proceeds through a business account at Bank of America, federal prosecutors in St....
View ArticleGlencore, JPM sued in U.S. as warehousing legal battle ramps up
Glencore Xstrata and JPMorgan Chase & Co. face a U.S. lawsuit, along with the London Metal Exchange, alleging they artificially inflated aluminum prices, in the second legal challenge related to...
View ArticleU.S. judge says SEC can pursue Bitcoin-related lawsuit
U.S. regulators got the green light from a federal judge to proceed with their lawsuit against a Texas man accused of running a Ponzi scheme using Bitcoin, the virtual online money system. Trendon...
View ArticleExtraterritorial regulation requires firms to 'stay ahead of curve', says...
The growth of extraterritorial financial regulation has forced financial institutions in Asia to take pre-emptive action to stay ahead of their compliance obligations, according to a report released...
View ArticleJustice Department targets banks serving online payday lenders – WSJ
The U.S. government has issued subpoenas to banks and other companies that handle payments for an array of questionable financial ventures, including online payday lenders, the Wall Street Journal...
View ArticleJPMorgan faces criminal and civil probes over mortgages
JPMorgan Chase & Co., the biggest U.S. bank by assets, said on Wednesday that it faces a criminal probe by the U.S. Department of Justice over sales of mortgage-backed securities (MBSs) and that...
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