HSBC whistleblower presses for new laundering probe-The American Banker
By Chris Cumming HSBC executives probably hoped that paying a record $1.9 billion fine last year would close the books on its money-laundering violations. But a former employee is alleging that the...
View ArticleGlobal regulators outline how they will work together on cross-border...
Global regulators have agreed on several ways to improve the cross-border implementation of derivatives reforms, including removing barriers such as privacy laws that prevent regulators from accessing...
View ArticleRegulators ease derivatives rule to avoid harming economy
Global regulators have eased the impact of new rules designed to make the $630 trillion derivatives market safer as they seek to avoid too-tight controls on the sector that some banks argue could harm...
View ArticleFSB's Carney warns G20 of risk of fragmented banking rules
The world's banking system risks fragmentation that could hurt growth if countries cannot settle their differences over how to handle big banks that run into trouble, a top policymaker said on Monday....
View ArticleESMA advises European Commission on EMIR equivalence of overseas derivatives...
The European Securities and Market Authority has assessed the equivalence with the European Markets Infrastructure Regulation (EMIR) of the relevant U.S., Australian, Hong Kong, Japanese, Singapore and...
View ArticleCitigroup sheds more than $6 billion in PE, hedge fund assets to meet Volcker...
Citigroup Inc has sold more than $6 billion in private equity and hedge fund assets in the past month to comply with new regulations that limit such investments, the Wall Street Journal reported,...
View ArticleSEC charges San Diego adviser with cherry-picking and soft-dollar misuse
San Diego investment adviser J.S. Oliver Capital Management and limited partner Ian O. Mausner engaged in a cherry-picking scheme that awarded more profitable trades to hedge funds in which Mausner and...
View ArticleSEC opinion leaves broker-dealers with quandary over seeking review of FINRA...
A Securities and Exchange Commission opinion may make broker-dealers less sure about seeking a review of regulatory actions by FINRA, the Financial Industry Regulatory Authority. After a firm cures the...
View ArticleU.S. futures regulator fines Macquarie unit over adequacy of funds in secured...
The U.S. Commodity Futures Trading Commission has fined Macquarie Futures USA LLC, a futures commission merchant, or broker, $150,000 for failing to maintain adequate funds in secured accounts as...
View ArticleEuropean Union launches clampdown on shadow banking
Special funds used by big companies to park billions of euros of cash face stricter rules to make them safer, the European Commission said on Wednesday, taking a first step to reform unregulated...
View ArticleU.S. SEC won’t appeal ruling against disclosing payments abroad
U.S. securities regulators said on Tuesday they would not appeal federal court's decision from July to toss out a new rule requiring oil, natural gas and mining companies to disclose the payments they...
View ArticleJPMorgan, ex-Bear Stearns managers win dismissal of Bank of America lawsuit...
JPMorgan Chase & Co and former Bear Stearns Cos managers Ralph Cioffi and Matthew Tannin won the dismissal of a lawsuit in which Bank of America Corp accused them of causing heavy losses by lying...
View ArticlePrepaid-card firm helped reveal tax-fraud twist that relied on purported...
A Miami man has been indicted on fraud, aggravated identity theft and other charges for allegedly using stolen identities to seek $13 million in bogus income-tax returns from the Internal Revenue...
View ArticleU.S. regulators' "living will" template for smaller banks says don't expect...
The Federal Reserve Board and the Federal Deposit Insurance Corporation on Tuesday released an optional model template for "living will" resolution plans that some firms will be submitting for the...
View ArticleExclusive: JPMorgan subject of obstruction probe in energy case
U.S. authorities are conducting a criminal investigation into whether several employees of JPMorgan Chase & Co tried to impede a regulatory investigation into alleged manipulation of power markets,...
View ArticleInsider tip recipient faces prison for obstructing SEC probe
A San Francisco federal jury on Tuesday convicted a Detroit area man of obstructing a Securities and Exchange Commission investigation into an alleged insider trading scheme in which he illegally...
View ArticleNasdaq system at center of massive outage has hiccup
Nasdaq OMX Group said the system at the center of the Nasdaq exchange's three-hour trading halt on Aug. 22 had a six minute outage on Wednesday for a small number of stock symbols, but the issue had...
View ArticleU.S. judge puts SAC Capital civil lawsuit on hold pending criminal case
A U.S. judge put on hold a civil forfeiture lawsuit against Steven A. Cohen's SAC Capital Advisors hedge fund on Wednesday while a criminal insider-trading case moves forward. On the same day, the firm...
View ArticleHedge funds struggling with compliance and due diligence demands, conference...
Following the 2008 global financial crisis and Madoff scandal in the U.S., hedge fund due diligence is proving much more time consuming for fund managers, a conference in Hong Kong has heard. Other...
View ArticleColumn: "Banging the close" in commodity futures markets — part one
This article considers two recent cases of market manipulation involving commodity futures contracts in the UK and the U.S. and will contrast both the differences between the two legal regimes and...
View Article
