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Financial Reform

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  • LONDON, March 17- Britain's financial regulator has banned Paul Robson, a former trader at Dutch lender Rabobank from the UK financial services industry following a criminal conviction for Libor-related fraud in the United States. The Financial Conduct Authority said on Tuesday that Robson, who last year pleaded guilty for his role in a conspiracy to...

  • NEW YORK, March 16- A U.S. housing regulator urged a federal judge on Monday to award it $1.1 billion due to false claims made about "crap" mortgages underlying securities sold by Nomura Holdings Inc to Fannie Mae and Freddie Mac ahead of the 2008 financial crisis. At the start of a trial in Manhattan federal court, a lawyer for the Federal Housing Finance Agency said...

  • Time to look to Hong Kong markets?   Sunday, 15 Mar 2015 | 6:52 PM ET
    Time to look to Hong Kong markets?

    Kingsley Jones, founder and CIO at Jevons Global, explains why Hong Kong shares are looking better these days and outlines why India is a standout performer among emerging markets.

  • Saccomanni: How to help out Greece   Friday, 13 Mar 2015 | 12:30 PM ET
    Saccomanni: How to help out Greece

    Fabrizio Saccomanni, former finance minister of Italy, says we should make sure the Greek government has no funding problems in the short-run that could trigger a systemic crisis.

  • Saccomanni: Reforms are 'a complicated affair'   Friday, 13 Mar 2015 | 12:10 PM ET
    Saccomanni: Reforms are 'a complicated affair'

    Talking about Italy's new reforms, Fabrizio Saccomanni, former finance minister of Italy, says a lot depends on what the priorities are when it comes to Italy's reforms.

  • Passera: We need more economic stimulus   Friday, 13 Mar 2015 | 5:15 AM ET
    Passera: We need more economic stimulus

    Corrado Passera, former minister of economic development of Italy, says that quantitative easing is effective, however, the country now needs more reforms.

  • PANAMA CITY, March 11- Panama's banking regulator said on Wednesday it had seized the local unit of Banca Privada D' Andorra, as the lender's Andorra- based headquarters is being investigated by the United States government for possible money laundering. On Tuesday, the U. S Department of the Treasury named BPA as an institution of primary money laundering...

  • WASHINGTON, March 11- Goldman Sachs, JPMorgan Chase and Morgan Stanley were forced to cut planned shareholder returns in order to pass the U.S. The regulator also criticized Bank of America for poor risk controls. But Goldman Sachs, JPMorgan and Morgan Stanley would all have fallen below at least one benchmarks for top-tier capital if they had executed their...

  • ZURICH/ HONG KONG, March 10- Credit Suisse said it had hired Prudential head Tidjane Thiam as the first African to lead a global investment bank, with the job of reviving a company reeling from U.S. penalties and under increasing regulatory scrutiny. Credit Suisse Chairman Urs Rohner said long-standing boss Brady Dougan was stepping down as chief executive of...

  • HONG KONG, March 9- Hong Kong shares finished mixed on Monday after the Chinese securities regulator said that banks may be able to enter the brokerage business. Despite the bank-led rally that left both major mainland bourses up over 1.5 percent, Hong Kong's Hang Seng index ended slightly lower. "The news benefited mainland banks as they could expand their...

  • DUBLIN, March 8- Fresh from putting the squeeze on banks to behave themselves, regulators are now scrutinising so-called shadow banks, alternative lenders like investment funds that are doing big business out of countries such as Ireland. The third biggest shadow banking market in the euro zone behind Luxembourg and the Netherlands, Ireland has amassed 2.9...

  • NEW YORK, March 5- When U.S. auto lender Ally Financial Inc failed a key regulatory test two years ago, its executives were surprised to learn that the main reason was that the Federal Reserve treated loans to car dealers just like riskier credit to energy producers or manufacturers. "We felt like in some areas very broad approaches were being taken when maybe it...

  • UPDATE 2-Turkey's watchdog seizes Bank Asya stake Wednesday, 4 Mar 2015 | 12:43 PM ET

    ISTANBUL, March 4- Turkish banking regulators on Wednesday seized a small stake in the Islamic lender Bank Asya over an alleged illegal share sale, the latest round in a battle between Ankara and a U.S.-based Muslim cleric. The campaign has added to investor fears that political interventions are damaging Turkey's financial system. The banking watchdog said...

  • Republicans on the committee that oversees financial services disagree, and Texas Representative Randy Neugebauer plans to introduce a bill later this week to replace the agency's director with a five-person commission appointed by the president. "Sometimes, I think you are trying to do good, but in the end, what you do creates harm to an industry where people...

  • WASHINGTON, March 2- Regulators shouldn't weaken a rule that limits banks' borrowing, a senior U.S. bank supervisor said on Monday, indicating a possible split with the derivatives watchdog over the issue. Tom Hoenig, second-in-command at the Federal Deposit Insurance Corp, said he disagreed with the head of the Commodity Futures Trading Commission who has...

  • NEW YORK, March 2- IEX Group, the start-up stock-trading venue featured in Michael Lewis' book "Flash Boys," hired a former New York Stock Exchange official as chief regulatory officer, the last piece of its senior management team as it moves to become an exchange later this year, the company said on Monday. Crowley will be IEX's main contact on regulatory issues with...

  • MUMBAI, Feb 28- India on Saturday proposed to merge its commodity market regulator with the capital market watchdog, aiming to strengthen regulation in a move which could help open the commodity futures market to institutional investors. Responding to the measure, shares of Multi Commodity Exchange of India Ltd, India's biggest commodity exchange and its...

  • SINGAPORE, Feb 27- Singapore Exchange Ltd may have just begun its search for a new CEO but investors and brokers already know what change they want to see: the bourse stripped of its regulatory powers and a rebuilding of its stock market business. Unlike other major financial markets, Singapore does not have a dedicated securities watchdog.

  • SINGAPORE, Feb 27- Singapore Exchange Ltd may have just begun its search for a new CEO but investors and brokers already know what change they want to see: the bourse stripped of its regulatory powers and a rebuilding of its stock market business. Unlike other major financial markets, Singapore does not have a dedicated securities watchdog.

  • India to roll out a 'disciplined budget'?   Friday, 27 Feb 2015 | 12:17 AM ET
    India to roll out a 'disciplined budget'?

    Jahangir Aziz, head of EM Asia Economic Research at JP Morgan, says the economic realities of India may prompt the government to refrain from big ticket spending.