Congress Financial Reform

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  • LONDON, July 5- Two British commercial property funds suspended trading within 24 hours, and the financial regulator pointed on Tuesday to the danger to the sector from a sudden swoon caused by Britain's decision to leave the European Union. Aviva Investors, the fund arm of insurer Aviva, suspended trading in its 1.8 billion pound UK Property Trust on Tuesday.

  • NEW YORK, June 30- New York's banking regulator issued new rules on Thursday requiring that banks operating in the state must pass annual resolutions at the boardroom level or have a senior officer verify that internal anti-money laundering and anti-terrorist finance programs meet federal standards. The regulation, which goes into effect Jan. 1, stem from...

  • NEW YORK, June 29- Investors Cameron and Tyler Winklevoss on Wednesday filed to switch the listing of their proposed bitcoin exchange-traded fund to BATS Global Markets from Nasdaq, according to a filing with the Securities and Exchange Commission. The proposed ETF, the Winklevoss Bitcoin Trust, will list 1 million shares at $65 each, according to the filing.

  • NEW YORK/ WASHINGTON, June 29- Nearly all of the largest U.S. banks are on steady enough footing to increase payouts to shareholders, the U.S. The regulatory thumbs up prompted a slew of announcements from banks who plan to buy back more stock or increase dividends- good news for investors who saw their banks shares hammered by Britain's vote last week to leave the...

  • NEW YORK, June 28- A U.S. congressional watchdog said on Tuesday it has formally added three agencies to its investigation into whether government regulators are too soft on the banks they are meant to police. Representatives Maxine Waters and Al Green for it to look into "regulatory capture." Lawrance Evans, director of the GAO's financial markets and community...

  • FRANKFURT, June 27- Some Deutsche Boerse shareholders are urging the exchanges group to seek more favorable terms in its planned merger with the London Stock Exchange Group after Britain's vote last week to leave the European Union. Some shareholders also said German regulators might not accept the companies' plan to make London the legal base for the...

  • *Paris, Frankfurt most likely to host agency. BRUSSELS, June 26- The EU is preparing to move its European Banking Authority from London following Britain's vote to leave the Union, EU officials said on Sunday, setting up a race led by Paris and Frankfurt to host the regulator. While those who argued for Britain to leave the EU said the financial industry would thrive...

  • *Paris, Frankfurt most likely to host agency. BRUSSELS, June 26- The EU is preparing to move its European Banking Authority from London following Britain's vote to leave the Union, EU officials said on Sunday, setting up a race led by Paris and Frankfurt to host the regulator. While those who argued for Britain to leave the EU said the financial industry would thrive...

  • NEW YORK, June 22- Financial institutions that settled misconduct charges with New York State's financial regulator have committed new improper behavior and "serious compliance failures," the agency's head said on Wednesday. Monitors keeping tabs on the institutions discovered intentional misconduct, including improper foreign exchange trading...

  • NEW YORK, June 22- Monitors who are keeping tabs on financial institutions that settled misconduct charges with New York State's financial regulator have uncovered "serious compliance failures" and new improper behavior, the agency's head said on Wednesday. Monitors have discovered intentional misconduct, including improper foreign exchange trading...

  • WASHINGTON, June 21- Hedge funds, banks and insurance companies have recently jumped into "marketplace lending," drawing the attention of U.S. regulators, who said on Tuesday they are concerned that borrowing by consumers and small businesses through online platforms may pose risks to U.S. financial stability. In its annual review of the U.S. financial system...

  • WASHINGTON, June 21- Hedge funds, banks and insurance companies have recently jumped into "marketplace lending," drawing the attention of U.S. regulators, who said on Tuesday they are concerned that borrowing by consumers and small businesses through online platforms may become a threat to U.S. financial stability. In its annual review of the U.S. financial...

  • We need significant reforms: Russian FinMin

    Russian finance minister Anton Siluanov explains which sectors of the economy need to be reformed, such as the state, health and education sectors.

  • HONG KONG/ SINGAPORE, June 17- A crackdown on money laundering by Asia's main private banking centers is forcing wealth managers to spend more on compliance procedures and may prove too onerous for smaller players, industry executives said. Regulators in Singapore and Hong Kong, Asia's biggest offshore wealth markets, have stepped up scrutiny of their wealth...

  • CHICAGO, June 16- The U.S. Chamber of Commerce wants you to believe it is looking out for the little guy in its fight against new government regulation of the retirement investment advice industry. But that is a facade- as one consumer advocacy group found out when it checked the Chamber's claims of grassroots support for its battle to stop the U.S. Department of...

  • WASHINGTON, June 16- U.S. taxpayers may be paying too much for construction of the new headquarters of Fannie Mae, the housing finance company now in government hands, an independent government watchdog warned on Thursday. The new Fannie Mae building in downtown Washington has seen its per-square-foot costs increase by more than 50 percent in about eighteen...

  • June 15- The New York State on Wednesday confirmed Governor Andrew Cuomo's pick to become the state's top financial regulator. The confirmation vote for Maria Vullo, Cuomo's nominee for superintendent of the New York State Department of Financial Services, was unanimous. Earlier on Wednesday, the New York Senate Finance Committee held a hearing on Vullo's...

  • June 10- Nasdaq Inc said it named Michael Ptasznik as chief financial officer after he resigned from a similar role at TMX Group Inc, the operator of the Toronto Stock Exchange. The appointment of Ptasznik is seen as a coup for Nasdaq, which is looking to expand its footprint in Canada. Nasdaq announced in March that it plans to seek regulatory approval to turn its...

  • BEIJING, June 7- China is to allow foreign payment card companies to operate in the country, potentially giving groups like Visa Inc and MasterCard access to its 55- trillion-yuan card payment market. Rules issued on Tuesday by China's central bank and the China Banking Regulatory Commission include a requirement that applicants hold 1 billion yuan in...

  • SAO PAULO, June 6- Brazil's antitrust watchdog Cade wants the nation's five biggest commercial banks to detail better their plan to set up a credit research company to gather information on borrowers' bill-paying history, on concern the deal could hamper competition. In January, state-controlled Banco do Brasil SA and Caixa Econômica Federal teamed up with...