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Congress Financial Reform

  • DUBAI, May 11- JPMorgan will increase the number of bankers it has in Saudi Arabia to around 80 by the end of the year to capitalise on the increase in equity market activity and mergers and acquisitions in the kingdom, a senior executive said. Saudi Arabia has unveiled about $200 billion of privatisation of state-owned companies over the next few years, selling...

  • WASHINGTON, May 10- Fannie Mae and Freddie Mac may have to retain billions of dollars in profits rather than turn them over to the U.S. Having Fannie and Freddie tap taxpayers for more financial support "could stifle liquidity in the mortgage-backed securities market and could increase the cost of mortgage credit for borrowers," Watt said in prepared testimony...

  • *China's HNA now Deutsche Bank's largest shareholder. FRANKFURT, May 9- China is welcome to invest in German financial firms, Germany's top market watchdog said after Chinese conglomerate HNA Group raised its stake in Deutsche Bank. An acquisition spree by HNA reflects a broader Chinese push into financial services as Beijing encourages its corporate sector...

  • SHANGHAI, May 9- China's securities watchdog has launched a nation-wide inspection on brokerages' asset management business, sources said on Tuesday, the latest move in China's regulatory crackdown of risky investments and shadow banking. Brokerages, along with trust firms and fund houses, have been used by banks as a channel to guide deposits into risky...

  • May 8- In regulation and in business, our decades-long obsession with rules-based systems is a failure. Wrong conduct led to more than $140 billion of fines, so far, paid out by banks for the mis-selling of U.S. mortgages and nearly $40 billion in payouts by UK banks over rip-offs like Payment Protection Insurance. Warren Buffett, a Wells Fargo shareholder, gets the...

  • France needs to have sound public finances: EU’s Moscovici

    European Commissioner for Economic and Financial Affairs, Taxation and Customs Pierre Moscovici weighs in on whether he believes reforms in France will take place under Macron.

  • *Hearing adjourned until June 2. The Ontario Securities Commission has accused Home Capital of hiding fraudulent mortgage broker activity from shareholders for months and the allegations have already contributed to Canada's largest non-bank lender suffering a share-price nosedive and run on deposits, prompting it to secure C $2 billion emergency...

  • *Hearing adjourned until June 2. The Ontario Securities Commission has accused Home Capital of hiding fraudulent mortgage broker activity from shareholders for months and the allegations have already contributed to Canada's largest non-bank lender suffering a share-price nosedive and run on deposits, prompting it to secure C $2 billion emergency...

  • Keith Noreika, a partner at law firm Simpson Thacher& Bartlett LLP, will be first deputy comptroller at the Office of the Comptroller of the Currency and will run the OCC on an interim basis when Comptroller Thomas Curry leaves on May 5, Treasury Secretary Steven Mnuchin said in a statement. That appointment requires Senate confirmation and analysts said they...

  • May 3- Credit Suisse Group AG paid $400 million to settle claims that the Swiss bank sold toxic mortgage securities that contributed to the demise of three federal credit unions, a U.S. regulator said on Wednesday. The National Credit Union Administration said the settlement resolves the 19th of 20 lawsuits it filed in the last six years against banks over their...

  • May 3- Intercontinental Exchange Inc, which owns the New York Stock Exchange, said on Wednesday it has earmarked a $10 million "accrual" related to a regulatory probe into a nearly four-hour trading halt on the NYSE in July 2015, as well as other ongoing investigations. It was not known if the SEC approved the recommendation, or what the amount of any...

  • FRANKFURT, May 2- Chinese conglomerate HNA Group has become Deutsche Bank's biggest direct shareholder, upping its stake in the flagship lender of Europe's top economy to just under 10 percent, according to a U.S. regulatory filing. It comes at a time of heightened uncertainty at the bank, as it grapples with a strategic turnaround, an uncertain global economy and...

  • FEDERAL DEPOSIT INSURANCE CORP ADDS $583 MILLION TO CLAIM AGAINST BANK OF AMERICA CORP- FILING.

  • RIYADH, May 2- Saudi Arabias Ministry of Health has received at least six bids to act as financial adviser for the privatisation of 55 primary healthcare centres in Riyadh, banking sources said. Albilad Capital, NCB Capital, Gulf International Bank Capital, KPMG, PricewaterhouseCoopers and Banque Saudi Fransi all submitted bids by the deadline of April 26 to act...

  • RIYADH, May 2- Saudi Arabias Ministry of Health has received at least six bids to act as financial adviser for the privatization of 55 primary healthcare centers in Riyadh, banking sources said. Albilad Capital, NCB Capital, Gulf International Bank Capital, KPMG, PricewaterhouseCoopers and Banque Saudi Fransi all submitted bids by the deadline of April 26 to act...

  • First NBC was closed by the Louisiana Office of Financial Institutions, which appointed the Federal Deposit Insurance Corporation as the receiver. The regulator said Gulfport, Mississippi- based Whitney Bank would assume all of First NBC's transactional deposits and branches. Whitney Bank will reopen 24 branches of First NBC in Louisiana and five branches...

  • WASHINGTON, April 27- Lawmakers, lobbyists and interest groups are making a final push in their fight over regulations enacted during former President Barack Obama's last months in office, with the financial services industry working hard to kill a rule on retirement plans run by states. Currently, the resolutions only require simple majorities to pass both...

  • WASHINGTON, April 27- Lawmakers, lobbyists and interest groups are making a final push in their fight over regulations enacted during former President Barack Obama's last months in office, with the financial services industry working hard to kill a rule on retirement plans run by states. Currently, the resolutions only require simple majorities to pass both...

  • ISLAMABAD, April 27- Pakistan's financial regulator is escalating investigations against stockbrokers in a campaign to curb insider trading and illegal leveraging in the stock market, its executive director said in an interview. Pakistan's benchmark stocks index was one of the world's best performing last year and has returned more than 900 percent since...

  • ISLAMABAD, April 27- Pakistan's financial regulator is escalating investigations against stockbrokers in a campaign to curb insider trading and illegal leveraging in the stock market, its executive director said in an interview. Pakistan's benchmark stocks index was one of the world's best performing last year and has returned more than 900 percent since...