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  • NEW YORK, Oct 21- Ocwen Financial Corp, one of the largest U.S. companies that collects mortgage payments, may have harmed hundreds of thousands of borrowers by sending them letters about loan modifications and foreclosures that were dated months earlier, New York's financial regulator said on Tuesday. The company, which has been under scrutiny by New York's...

  • WASHINGTON, Oct 21- The U.S. Federal Deposit Insurance Corp unveiled a final rule on Tuesday that requires banks to retain at least 5 percent of the risk on their books when they bundle loans, securitize them and sell them to investors. The rule, expected to be adopted by the FDIC later on Tuesday, aims to prevent a repeat of the 2007-2009 financial crisis, when banks'...

  • Oct 21- Omeros Corp said it suspended enrolment in a mid-stage study testing its experimental Huntington's drug as the company evaluates data from a concurrent trial in rats, sending its shares down 10 percent before the bell. The drug has been well tolerated in all human trials, Omeros said. The U.S. Food and Drug Administration has asked the company to further...

  • BRUSSELS, Oct 21- European Union antitrust regulators are set to fine JPMorgan, UBS and Credit Suisse collectively over $115 million for rigging Swiss franc LIBOR benchmark interest rates, a person familiar with the matter told Reuters. Royal Bank of Scotland alerted the European Commission to the wrongdoing and so would not be penalized for its own role in the...

  • Oct 20- Banks should defer bonus payments for 10 years and tap the bonus pool to pay any regulatory fines, a top Federal Reserve official said on Monday, taking aim at continued lapses across the industry even after the 2007-9 financial crisis. New York Federal Reserve Bank President William Dudley said banks should move toward paying employees in debt...

  • District Judge Shira Scheindlin in New York ordered Wyly and the estate of his late brother Charles to pay damages of $187.7 million plus interest to the SEC, after a jury found them liable for fraud in May. The SEC has since said the total, including interest, should be $299.4 million, which is one of the largest awards ever sought from individual defendants in a U.S....

  • In a complaint filed in Manhattan federal court, Jordan Peixoto said the SEC "intentionally and strategically" singled him out by pursuing an administrative proceeding to force a settlement, rather than sue him in federal court. In a Sept. 30 complaint, the SEC alleged that Peixoto made $47,100 in December 2012 by trading illegally in Herbalife put options, after...

  • Leaking North Dakota oil well contained Monday, 20 Oct 2014 | 5:14 PM ET

    WILLISTON, N.D.— North Dakota oil regulators say a well that leaked oil, gas and brine for more than two days was brought under control over the weekend. Oil and Gas Division spokeswoman Alison Ritter says the out-of-control XTO Energy Inc. well in McKenzie County was under control by 6:30 p.m. Saturday. The North Dakota Department of Health says the incident...

  • DETROIT, Oct 20- Toyota Motor Corp recalled 247,000 cars, SUVs and pickup trucks in the United States on Monday because of potentially defective front passenger air bag inflators from Japan's Takata Corp that can rupture and spray metal shrapnel, according to U.S. safety regulators. That raised the number of vehicles affected by regional recalls launched in...

  • NEW YORK, Oct 20- A Toronto man accused by the U.S. Securities and Exchange Commission of insider trading related to Herbalife Ltd on Monday sued the federal regulator agency to stop it from pursuing its case. In a complaint filed in Manhattan federal court, Jordan Peixoto said the SEC's administrative proceeding against him deprives him of protections he would...

  • Deals of the day- Mergers and acquisitions Monday, 20 Oct 2014 | 4:06 PM ET

    **Platform Specialty Products Corp said it would buy Arysta LifeScience Ltd for about $3.51 billion, Platform's third acquisition this year as the company looks to strengthen its agrichemicals business. **The top two lawmakers on the Senate's antitrust panel have urged regulators to scrutinize food distributor Sysco Corp's planned purchase of rival U.S....

  • Judge to rule against Ameren in power line case Monday, 20 Oct 2014 | 3:28 PM ET

    JEFFERSON CITY, Mo.— A judge said Monday that he will rule against a subsidiary of Ameren Corp. in a legal fight over whether it needs state regulators' permission to build a high-voltage power line across northern Missouri. Cole County Circuit Judge Dan Green said he's inclined to reject Ameren's request for a declaration that the Missouri Public Service...

  • District Judge Shira Scheindlin in New York ordered Wyly and the estate of his late brother Charles to pay damages of $187.7 million plus interest to the SEC, after a jury found them liable for fraud in May. The SEC has since said the total, including interest, should be $299.4 million, which is one of the largest awards ever sought from individual defendants.

  • WASHINGTON, Oct 20- Wall Street's top trade group is calling for the creation of a new inter-agency working group of regulators and the White House that would be tasked with developing consistent cybersecurity rules for the financial industry. The recommendation by the Securities Industry and Financial Markets Association was one of several unveiled on...

  • Lorillard CEO to get $44M after Reynolds merger Monday, 20 Oct 2014 | 12:21 PM ET

    RICHMOND, Va.— The CEO of Newport cigarette maker Lorillard Inc. is set to receive more than $44 million following the planned $25 billion merger with Reynolds American Inc., regulatory filings show. Murray Kessler is one of several Lorillard executives to receive compensation if they're terminated after the deal closes, according to a filing with the...

  • WASHINGTON, Oct 20- The top two lawmakers on the Senate's antitrust panel have urged regulators to scrutinize food distributor Sysco Corp's planned purchase of rival U.S. Foods for $3.5 billion. Sysco and U.S. Foods are the only companies with the geographic reach to offer nationwide contracts to deliver a wide variety of goods from napkins to eggs to cleaning...

  • *Deregulation not to impact India's diesel exports. NEW DELHI, Oct 20- India's scrapping of diesel price controls opens the door for private sector refiners to return to a domestic retail market from which they have been excluded for years because they could not compete with state firms. Reliance Industries plans to revive its old business cautiously, while...

  • Feds nix wind farm near Erie airport, cite radar Monday, 20 Oct 2014 | 8:22 AM ET

    The FAA had previously approved the wind farm in North East Township. But when that approval expired in May, the FAA revisited the question of radar safety and earlier this month decided it would be a problem, the Erie Times-News reported Monday. "The analysis done by FAA Technical Operations indicates that all of the wind turbines would be in the radar line of...

  • Sprint cuts 452 jobs at its Kansas headquarters Saturday, 18 Oct 2014 | 3:36 PM ET

    OVERLAND PARK, Kan.— Sprint Corp. has cut 452 jobs from its Overland Park headquarters as part of a previously announced cost-cutting effort, the nation's third-biggest cellphone carrier disclosed in a filing with the Kansas Department of Commerce. It doesn't cover any job losses outside the headquarters campus, although they are believed to be happening too,...

  • MEXICO CITY/ DETROIT/ TOKYO, Oct 18- Manufacturing problems with Takata Corp air bags go beyond what the Tokyo- based company has disclosed to U.S. safety regulators about why the devices are at risk of exploding with dangerous force, according to internal company documents reviewed by Reuters. Takata has cooperated with an investigation begun in June by...