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Financial Reform

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  • U.S. regulator wants better deposit data from big banks Tuesday, 21 Apr 2015 | 10:00 AM ET

    WASHINGTON, April 21- The largest U.S. and foreign banks would need to keep track of deposits better under a plan launched by the Federal Deposit Insurance Corporation on Tuesday, as many lenders have grown and become more complex. It said the FDIC "has often found inconsistent and missing data" in the current records, which the banks need to provide because of an...

  • *Hang Seng Index falls 2.0 percent. SHANGHAI, April 20- China shares dived on Monday in volatile trade as fears of a regulatory crackdown on the world's hottest stock market offset the central bank's most aggressive move yet to bolster the slowing economy. By the close both the CSI300 index of the largest listed companies in Shanghai and Shenzhen, and the Shanghai...

  • SHANGHAI, April 20 (Reuters)- China shares dived on Monday in volatile trade as fears of a regulatory crackdown on the world's hottest stock market offset the central bank's most aggressive move yet to bolster the slowing economy. A cut in banks' reserve requirements announced by the People's Bank of China on Sunday was the largest since the global financial...

  • BEIJING, April 17- China's bank regulator temporarily suspended this week new financial industry cybersecurity rules after feedback from banks, showing the practical challenges of the nation's long-term effort to cut dependence on entrenched foreign technology. China has recently advanced a wave of new policies to tighten cybersecurity roughly 18...

  • WILLISTON, N.D., April 17- Calpers, the largest American public pension fund, and nearly 60 other institutional investors will ask the U.S. Securities and Exchange Commission on Friday to require oil and natural gas companies to publish detailed analysis of the risks posed by climate change to their business models. Calpers and other investors will tell the SEC...

  • China suspends bank-technology rules that sparked worry Thursday, 16 Apr 2015 | 11:40 PM ET

    BEIJING, April 17- China has put on hold bank-technology rules that Washington and others complained amount to unfair regulatory pressure on foreign firms, a government notice seen by Reuters said. Secretary of Commerce Penny Pritzker visits China on a high-profile trade mission to drum up business for U.S. firms. "I think the government concern is reasonable,...

  • Family Endowment Partners LP and its head, Lee Weiss, steered the couple, James and Jane Sutow, to a $9 million investment in Biosyntec Polska, according to an American Arbitration Association ruling on Tuesday. The firm, which also has offices in Pennsylvania and Maryland, manages $335 million in assets, according to a regulatory filing. The Sutows lost a total of...

  • The Shanghai branch of China's central bank has ordered commercial lenders to check for risks in their margin trading business, and submit their margin trading accounts and list connected wealth management products. To caution against risks, China's top securities regulator, Xiao Gang, on Thursday urged stocks investors to be "rational and calm".

  • April 15- Hudson City Bancorp faces a U.S. government investigation into discriminatory lending practices, Bloomberg reported, citing two people familiar with the matter. The U.S. Justice Department and Consumer Financial Protection Bureau are examining whether the bank violated the Fair Housing Act, Bloomberg reported, adding that a preliminary CFPB...

  • April 15- Hudson City Bancorp faces a U.S. government investigation into discriminatory lending practices, Bloomberg reported, citing two people familiar with the matter. The U.S. Justice Department and Consumer Financial Protection Bureau are examining whether the bank violated the Fair Housing Act, Bloomberg reported, adding that a preliminary CFPB...

  • Greek MP discusses default fears   Wednesday, 15 Apr 2015 | 7:30 AM ET
    Greek MP discusses default fears

    Kyriakos Mitsotakis, Greek MP at the New Democracy Party, says he sees "no conceivable option" for Greece to default, as it would be "a completely catastrophic scenario."

  • WASHINGTON— A former CEO and two former top executives at mortgage giant Freddie Mac have settled a government lawsuit. The Securities and Exchange Commission announced the settlement late Tuesday with former Freddie CEO Richard Syron; Patricia Cook, an executive vice president and chief business officer; and Donald Bisenius, a senior vice president.

  • NEW YORK, April 14- Former Freddie Mac Chief Executive Officer Richard Syron and two other executives have agreed to settle a lawsuit by the U.S. Securities and Exchange Commission accusing them of misleading investors ahead of the 2008 financial crisis. Like other regulators, the SEC has been criticized for not holding enough top executives liable for...

  • April 9- First Tennessee Bank, the regional bank for First Horizon National Corp, said it would pay $212.5 million to settle claims of mortgage lending violations related to the business the company sold in 2008.. First Tennessee has reached an agreement with the U.S. Department of Housing and Urban Development and the U.S. Department of Justice to settle claims...

  • April 9- First Tennessee Bank, the regional bank for First Horizon National Corp, said it would pay $212.5 million to settle claims of mortgage lending violations related to the business the company sold in 2008.. First Tennessee has reached an agreement with the U.S. Department of Housing and Urban Development and the U.S. Department of Justice to settle claims...

  • NEW YORK, April 9- A lawyer for Nomura Holdings Inc argued on Thursday that a U.S. regulator relied on "voodoo science" to pursue claims that the bank made false statements in selling $2 billion in mortgage-backed securities to Fannie Mae and Freddie Mac. David Tulchin, Nomura's lawyer, urged a Manhattan federal judge to reject the Federal Housing Finance Agency's...

  • WASHINGTON, April 9- A panel of investor advocates said on Thursday they were developing a proposal for U.S. securities regulators that will make it easier for retail investors to conduct online background checks of financial professionals before hiring them. The Securities and Exchange Commission's Investor Advisory Committee discussed the...

  • India's reforms: Domestic focus is the right focus   Thursday, 9 Apr 2015 | 4:30 AM ET
    India's reforms: Domestic focus is the right focus

    Jan Dehn, head of research at Ashmore Investment Management, says the real upside for India is the domestic economy; adding that the real constraints are the lack of reforms and inefficiencies; all of which India's Prime Minister is addressing.

  • SocGen: 10% chance of sustainable deal for Greece   Thursday, 9 Apr 2015 | 4:00 AM ET
    SocGen: 10% chance of sustainable deal for Greece

    Anatoli Annenkov, senior European economist at Societe Generale, says that for Greece to pay back all of its loans, there needs to be more progress at the next Eurogroup meeting.

  • HK stock rally is 'bit of a reform premium': Pro   Wednesday, 8 Apr 2015 | 11:12 PM ET
    HK stock rally is 'bit of a reform premium': Pro

    Gavin Parry, managing director at Parry International Trading, attributes the rally in the Hang Seng index to the removal of barriers for mainland money managers to buy H-shares last week.