Congress Financial Reform

  • BEIJING, March 28- China's banking regulator has tightened up its scrutiny of the country's distressed asset managers, in a bid to crack down on improper bad debt transactions with commercial banks, an internal document reviewed by Reuters shows. China's asset management companies are prohibited from signing with banks any private agreements, including...

  • LONDON, March 24- An engineered slowdown in European Union financial rulemaking has turned into outright stalling in parts, holding back reforms to boost growth and leaving banks unclear over future business models. "It's superfluous," said Wim Mijs, chief executive of the European Banking Federation. The Association of Financial Markets in Europe, which...

  • China has enough policy tools to ensure a stable economic performance, Premier Li Keqiang said at a forum in Hainan.

  • WASHINGTON, March 21- A regulator for the U.S. financial services industry on Monday said it was examining liquidity and redemption risks from asset managers and will provide an update on its findings in the next few months. During a conference call of the Financial Stability Oversight Council, officials discussed "potential risks to U.S. financial stability...

  • SHANGHAI, March 21- China's banking regulator has urged lenders not to pay out extraordinary dividends and limit their local government debt exposure, two people with direct knowledge of the matter told Reuters on Monday. China's lenders are facing increasing bad loans and credit risks as a government campaign to reduce capacity weighs on the manufacturing...

  • PORT LOUIS, March 18- The Mauritius central bank said it has issued a banking license to Bank of China, the first Chinese bank licensed to operate on the Indian Ocean island. Zhang Xiaoqing, who is leading a team setting up the Mauritius unit, said Bank of China wanted to provide financial services to African businesses and serve multinationals and others doing...

  • March 17- An online company that sells customer information to businesses making payday loans has agreed to pay a $1 million penalty and stop generating such leads in New York, the state's financial regulator said on Thursday. Blue Global LLC in Scottsdale, Arizona, and its chief executive officer, Chris Kay, agreed to the measures in a settlement with the New York...

  • March 17- An online company that sells leads for payday loans has agreed to pay a $1 million penalty and stop generating leads in New York, the state's financial regulator said on Thursday. Blue Global LLC in Scottsdale, Arizona, and its chief executive officer, Chris Kay, agreed to the measures in a settlement with the New York State Department of Financial...

  • March 17- An online company that sells leads for payday loans has agreed to pay a $1 million penalty and stop generating leads in New York, the state's financial regulator said on Thursday. Blue Global LLC and its chief executive officer, Chris Kay, agreed to the measures in a settlement with the New York State Department of Financial Services, the regulator said.

  • PAYDAY LOAN COMPANY BLUE GLOBAL LLC AND CEO TO PAY $1 MLN PENALTY TO NEW YORK FINANCIAL REGULATOR- NYDFS.

  • *Hedge fund managers in bid to save licenses amid closure threat. HONG KONG/ SHANGHAI, March 17- China's hedge fund industry has been thrown into disarray as managers rush to comply with stringent new rules, introduced overnight, that could see over half the industry shut down by August, fund managers and lawyers told Reuters. "It is very difficult for the regulators...

  • NEW YORK, March 16- A former Goldman Sachs Group Inc employee hired to help the bank root out illegal conduct settled Securities and Exchange Commission insider trading charges by agreeing to give up $468,132 in profit he made by stealing from the Wall Street bank's email system, the SEC said. The SEC on Wednesday said Yue Han, who had worked in Goldman's...

  • *To close London head office. LONDON, March 11- Anglo-South African financial services group Old Mutual will split into its four main businesses, and may list its emerging market and wealth management arms, it said on Friday. Regulatory changes in Europe and South Africa have made the company, which started out in 1845 as a life insurance firm in Cape Town, more...

  • CMA proposes to reform the energy market

    Ellen Fraser, partner for energy retail and utilities at Baringa Partners, discusses the U.K. competition watchdog's proposed reforms.

  • I have little sympathy for Tsipras: Mitsotakis

    Kyriakos Mitsotakis, president of Greece's New Democracy, accuses the current prime minister Alexis Tsipras of ruining the country's reputation.

  • March 10- China's central bank is preparing regulations that would allow commercial lenders to swap non-performing loans of companies for stakes in those firms, two people with direct knowledge of the new policy told Reuters. NPLs surged to a decade-high last year as China's economy grew at its slowest pace in a quarter of a century. "Such a rule change shows...

  • SHANGHAI, March 10- China's central bank is preparing new regulations that would allow commercial banks to directly swap non-performing loans to firms for shares in their companies, two sources with direct knowledge of the new policy told Reuters. They added that the new regulations would be promulgated with special approval from the State Council, China's...

  • The two companies will seek to overcome the kind of regulatory concerns that scuppered Deutsche Boerse's attempt to merge with NYSE Euronext four years ago, a deal blocked because it would have created a near-monopoly on exchange-traded derivatives in Europe. They could argue there is less overlap between certain business lines in any one region, namely...

  • LONDON, March 6- Britain's financial regulators introduce the new Senior Managers Regime on Monday to make top bankers accountable for misconduct at their companies. The reform is in response to public anger that, under the previous system, few senior bankers were punished after taxpayers had to bail out several lenders during the 2007-09 financial crisis.

  • NEW YORK, March 4- A U.S. watchdog agency is preparing to investigate whether the Federal Reserve and other regulators are too soft on the banks they are meant to police, after a written request from Democratic lawmakers that marks the latest sign of distrust between Congress and the central bank. Ranking representatives Maxine Waters of the House Financial...