Congress Financial Reform

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  • 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...

  • 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 collect data 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...

  • WASHINGTON, June 3- Major insurers American International Group Inc and Prudential Financial Inc would be required to hold enough capital to head off risks to the U.S. financial system as part of a regulatory shakeup of the insurance industry proposed by the Federal Reserve on Friday. The U.S. central bank gained regulatory authority over the two systemically...

  • June 2- The National Retail Federation asked the Federal Trade Commission to investigate an organization founded by credit card companies to set data security standards, saying the group's practices raise antitrust concerns. The Payment Card Industry Security Standards Council "fails to meet any of the principles adopted by the federal government for...

  • WASHINGTON/ NEW YORK, June 2- The U.S. government's move on Thursday to restrict payday lenders' ability to profit from high-interest loans marks its first crackdown on an industry accused of preying on desperate consumers but also viewed as a last-ditch source of money. The Consumer Financial Protection Bureau unveiled a proposal that would require lenders...

  • Payday loans

    Regulators are proposing a significant clampdown on payday lenders and other providers of high-interest loans.