Congress Financial Reform

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  • China slowdown will be gradual: Moody's VP

    Marie Diron, senior VP of Moody's Investors Service, argues that China will continue to slow very gradually as the government is more likely to support the economy rather than reform it.

  • SHANGHAI, Jan 4- China's major stock exchanges tanked on the first trading day of the year, triggering a "circuit-breaker" that suspended equities trade nation-wide for the first time and put months of regulatory work to restore market stability at risk. The selloff saw the CSI300 index of the largest listed companies in Shanghai and Shenzhen lose 7.0 percent...

  • LONDON, Dec 31- A public review of Britain's banking culture has been scrapped just months after it was announced, with the UK regulator saying on Thursday it had opted instead to work with lenders individually to address any concerns. The move will likely add to the public perception that the Financial Conduct Authority is softening its approach after several...

  • LONDON, Dec 31- A public review of Britain's banking culture has been scrapped just months after it was announced, with the UK regulator saying on Thursday it had opted instead to work with lenders individually to address any concerns. The move will likely add to the public perception that the Financial Conduct Authority is softening its approach after several...

  • BEIJING, Dec 29- The deputy governor of China's central bank has been appointed head of the country's foreign exchange regulator, leading business publication Caixin reported on Tuesday. Pan, 52, previously held roles at Agricultural Bank of China Ltd and Industrial& Commercial Bank of China Ltd, the country's largest lender, before taking his position at the...

  • TOKYO, Dec 25- Sumitomo Mitsui Financial Group is seeking to buy into the rapidly growing financial technology sector ahead of the lifting of a ban on such investments next year, the president of Japan's third-largest bank said. Larger rivals Mitsubishi UFJ Financial Group Inc and Mizuho Financial Group Inc have also said they are seeking out similar ventures.

  • A vendor holds Chinese Yuan notes at a market in Beijing.

    The PBOC it would extend the yuan's trading hours on the Shanghai-based FX market from Jan. 4, in a major step forward on reforms.

  • TOKYO, Dec 21- A U.S. regulator has told Mitsubishi UFJ Financial Group Inc to improve the governance of its U.S. operations, including risk management in settlement systems, sources with familiar the matter said. MUFG, Japan's largest bank by assets, made major changes in its U.S. operations in July, combining the bank's U.S. unit and its subsidiary Union Bank as it...

  • WASHINGTON, Dec 18- The top U.S. banking regulators issued a forceful warning about commercial real estate lending on Friday, saying they will keep close watch on the segment next year as a recent swell in looser loan standards threatens banks' financial health. The statement from the Federal Reserve's Board of Governors, Federal Deposit Insurance Corporation...

  • Dec 16- BATS Global Markets Inc filed for an initial public offering with U.S. regulators on Wednesday, in what would be the exchange operator's second attempt at going public. The company told the U. S Securities and Exchange Commission in a preliminary prospectus that Morgan Stanley, Citigroup, BofA Merrill Lynch and J.P. Morgan were among those underwriting...

  • Dec 16- BATS Global Markets Inc filed for an initial public offering with U.S. regulators on Wednesday, in what would be the exchange operator's second attempt at going public. The Kansas City, Missouri- based company told the U. S Securities and Exchange Commission in a preliminary prospectus that Morgan Stanley, Citigroup, BofA Merrill Lynch and J.P. Morgan were...

  • LONDON, Dec 15- The European Banking Authority gave banks in the European Union more flexibility than anticipated in how to manage their exposure to shadow banking, in final guidelines published on Tuesday, and delayed the start date by a year to 2017.. Regulators worry that risks will shift from mainstream lenders to the more opaque "shadow banks" like money...

  • *JPMorgan says has resolved legacy system and control problems. The SFC said in a statement published on Tuesday the bank's Hong Kong broking business had mistakenly routed principal orders into its off-exchange dark pool trading platform, despite advising the SFC the pool only matched client trades. "We have fully co-operated with the SFC and are pleased to...

  • NEW YORK, Dec 10- Morgan Stanley has agreed to pay $225 million to settle claims that it sold toxic mortgage-backed securities to credit unions that later failed, the National Credit Union Administration said on Thursday. Morgan Stanley did not immediately respond to a request for comment on the settlement, which resolved lawsuits in New York and Kansas.

  • NEW YORK, Dec 8- Prosper Marketplace's $28,500 loan to the husband of the couple that killed 14 people in California last week risks drawing regulatory scrutiny of the online lending industry's "fast and easy" business model. Online lenders such as privately held Prosper and market leader Lending Club Corp are part of a small, but fast-growing industry.

  • *Regulation affects work between UAE- US banks- governor. *UAE raised problem with US authorities in November. ABU DHABI, Dec 9- The United Arab Emirates wants authorities in the United States to clarify regulations for U.S. banks doing business with UAE banks because the current system is holding up transactions happening via the U.S. dollar clearing service.

  • Tri-Factor: HSBC on three key China risks in 2016

    John Zhu, greater China economist at HSBC, sets out the 3 key risks investors must look out for in China next year; deflation is one.

  • NEW YORK, Dec 8- Prosper Marketplace's $28,500 loan to the husband of the couple that killed 14 people in California last week risks drawing regulatory scrutiny of the online lending industry's "fast and easy" business model. Online lenders such as privately held Prosper and market leader Lending Club Corp are part of a small, but fast-growing industry.

  • Nov 30- U.S. regulators are investigating whether Wells Fargo& Co has pushed employees too hard to meet sales targets while turning a blind eye to questionable behavior, The Wall Street Journal reported on Monday. Wells Fargo has a reputation for being better than peers like Bank of America Corp and JPMorgan Chase& Co at selling multiple products to its customers,...

  • SHANGHAI, Nov 29- A year after China's financial regulators squared up to the systemic perils of "shadow banking," the threat is shifting to a booming corporate bond market, and risky borrowers' debt is finding its way into products aimed at retail investors. New corporate bond issuance leaped to 914 billion yuan in the third quarter, accounting for 29 percent of all...