CFTC asks court not to dismiss suit against U.S. Bancorp unit
U.S. regulators on Thursday asked a federal court not to dismiss their lawsuit against a bank tied to the blow-up of brokerage Peregrine Financial, saying the bank helped bring about millions of...
View ArticleAuthorities in Texas arrest accused drug traffickers and money launderers
A federal grand jury in Laredo, Texas has indicted members of a drug trafficking and money laundering ring that smuggled heroin and methamphetamine from Mexico into the United States, federal...
View ArticleCFPB updates examinations guide for its mortgage rules
The Consumer Financial Protection Bureau has updated the exam procedures for the mortgage rules that it issued in January. The agency said the procedures would offer guidance to banks and mortgage...
View ArticleThe Risk Report: Funds factor in climate change risks
Climate change is having a major impact on investment decisions and even manager selections for investment funds, a global coalition of climate change investor groups has revealed in a recent report....
View ArticleSwiss lawyer pleads guilty in U.S. tax evasion case
A Swiss lawyer accused of helping U.S. clients conceal millions of dollars in offshore accounts pleaded guilty to conspiracy to commit tax fraud in federal court in New York on Friday. Edgar Paltzer,...
View ArticleJPMorgan hit by U.S. bribery probe into Chinese hiring -report
U.S. authorities have opened an investigation into whether JPMorgan Chase & Co hired the children of powerful Chinese officials to help it win business in China, according to the New York Times....
View ArticleCybersecurity should be a compliance issue, says expert
In March this year, a group of Islamic hackers announced that they were launching the latest phase of their denial of service attacks against the largest U.S. banks. The group, which called itself the...
View ArticleObama to meet with financial regulators over Dodd-Frank progress
President Barack Obama will sit down with the leading U.S. financial market regulators on Monday to discuss their progress in implementing the 2010 Wall Street reform law, for which many deadlines have...
View ArticleJPMorgan China probe sends chill through investment banks
A U.S. banking regulator's probe into JPMorgan's hiring practices in China will have rival banks scrambling to review their own records, lawyers say, in a market where ties to political and business...
View ArticleUK compliance officers cannot ignore threat of foreign regulatory scrutiny,...
UK compliance officers cannot afford to close their eyes to the scrutiny of foreign regulators, according to one regulatory lawyer, who added that firms are increasingly hiring international compliance...
View ArticleFederal Reserve publishes final rule establishing annual assessment fees
The Federal Reserve Board issued a final rule establishing annual assessment fees for its supervision and regulation of large financial companies. The Dodd Frank act directs the Fed to collect...
View ArticleHSBC appoints Hazlewood from Standard Chartered as global head of AML
Peter Hazlewood, global head of financial crime risk operations at Standard Chartered, is joining HSBC as global head of anti-money laundering compliance. Hazlewood, who will move to London from...
View ArticleU.S. program to curb wild stock price swings triggered frequently
The roll-out of a new program to limit wild price swings in publicly traded securities triggered dozens of trading halts on Monday as highly illiquid names were phased into the program. About 45...
View ArticleObama asks regulators to speed up Wall Street reforms under Dodd-Frank
President Barack Obama called top U.S. financial regulators to the White House on Monday, instructing them to speed up Wall Street reforms in the face of intense bank lobbying. Roughly five years after...
View ArticleFalcone agrees to industry ban in tougher U.S. SEC settlement after first one...
Hedge fund manager Philip Falcone agreed to a five-year ban from the financial industry and will admit wrongdoing to settle charges by the U.S. Securities and Exchange Commission that he improperly...
View ArticleU.S. tax agency opens FATCA registration for foreign financial institutions
The U.S. Internal Revenue Service on Monday opened a new online registration system for financial institutions that must register with the agency under FATCA, the Foreign Account Tax Compliance Act....
View ArticleWidespread auditing faults found at U.S. broker-dealers in post-Madoff review
Many financial auditors are failing to properly check for accounting fraud risks at U.S. broker-dealers or test controls over customer funds, new inspections mandated by Congress after Bernard Madoff's...
View ArticleU.S. Fed tells big banks to improve capital planning
Big banks must improve the way they determine how much capital they need to withstand any future crisis, the U.S. Federal Reserve said, citing observations from regulators' periodic tests of banks'...
View ArticleJPMorgan hires New York law firm to help in Hong Kong hiring probe: report
JPMorgan Chase & Co has hired New York law firm Paul, Weiss, Rifkind, Wharton & Garrison to investigate its hiring practices in Hong Kong, the Financial Times reported citing people familiar...
View ArticleGlobal regulators tighten capital, underwriting standards on mortgage insurers
Global regulators have toughened up standards for insuring home loans after defaults in U.S. mortgages sparked a global financial crisis and an industry shakeout six years on. Some insurers have filed...
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