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Financial Reform

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  • WASHINGTON, Jan 12- The U.S. Supreme Court on Monday declined to hear an appeal filed by several banks objecting to a lawsuit filed by a federal regulatory agency over their alleged role in selling mortgage-backed securities to now-failed credit unions. The litigation against the lenders, including units of Royal Bank of Scotland PLC and Wells Fargo& Co, can now...

  • Cyprus: Out of the danger zone?  Monday, 12 Jan 2015 | 4:50 AM ET

    Panicos Demetriades, former Cyprus central bank governor and professor of financial economics at the University of Leicester, discusses the country's economy and its reform plans, ahead of the first ECB meeting of 2015.

  • Nasdaq eyes running dark pools for banks - WSJ Monday, 12 Jan 2015 | 12:15 AM ET

    Jan 12- Nasdaq OMX Group has approached several big banks with a proposal to take over the operation of their so called "dark pools," and plans to seek regulatory permission to do so, the Wall Street Journal reported, citing Nasdaq Chief Executive Robert Greifeld. Last month, Citigroup Inc said it would shut down its alternative stock trading venue LavaFlow, at a time...

  • Here's the key to global growth: Treasury official Wednesday, 7 Jan 2015 | 1:01 PM ET

    As the global coalition for growth expands, it's important that each new addition adds value and has a clearly defined role, says this Treasury official.

  • Jan 6- Sales of so-called "smart beta" funds, the fastest-growing segment of the exchange-traded fund market, are among the issues Wall Street's private watchdog will review in its 2015 examinations of U.S. brokerages, the regulator said on Tuesday. The Financial Industry Regulatory Authority is concerned about how market swings affect indices tied to the...

  • Dec 29- Japan's financial regulator has begun stress tests on regional banks to determine how much their earnings would suffer if long-term interest rates remain near record lows under the Bank of Japan's loose money policy, according to two people with direct knowledge of the process. Regional lenders have typically extended loans to smaller businesses,...

  • NEW YORK, Dec 23- In December 2013, Hanmag Securities Corp, a small South Korean brokerage firm, lost 46 billion won in a day after a stock option trading algorithm went bad. It was a fatal blow for a company that had just 15 billion won of capital- Hanmag went bust. During the financial crisis, regulators were reluctant to let wobbly traders such as Bear Stearns go bust,...

  • UPDATE 1-CBOE to pass regulatory duties to FINRA Monday, 22 Dec 2014 | 3:43 PM ET

    CHICAGO, Dec 22- CBOE Holdings Inc, operator of the biggest U.S. stock options market, will cede regulatory duties to the securities industry's largest independent regulator next week, the company said on Monday. CBOE's Chicago Board Options Exchange and C2 Options Exchange hired the Financial Industry Regulatory Authority, or FINRA, to perform "the majority of...

  • CBOE to pass regulatory duties to FINRA Monday, 22 Dec 2014 | 1:12 PM ET

    CHICAGO, Dec 22- CBOE Holdings Inc, operator of the biggest U.S. stock options market, will cede regulatory duties to the securities industry's largest independent regulator next week, the company said on Monday. CBOE's Chicago Board Options Exchange and C2 Options Exchange hired the Financial Industry Regulatory Authority, or FINRA, to perform "the majority of...

  • *Regulators want to set capital "floor" for industry. *Proposals will reduce reliance on external credit ratings. LONDON, Dec 22- Global regulators have outlined measures to ensure capital held by banks does not fall below a certain level and to adopt a more consistent approach across the industry to measuring risk.

  • Dec 18- U.S. banks will be able to do more business in Cuba after the United States and the island nation agreed to restore diplomatic ties, but trade groups said their members will be slow to ramp up operations, fearing big penalties for mistakes. The U.S. Treasury Department said it expects to ease its sanction rules for banking in Cuba in the coming weeks.

  • SAO PAULO, Dec 17- Grupo BTG Pactual SA's Chilean unit obtained a permanent banking license to operate in the country on Wednesday, allowing Latin America's largest independent investment bank to start operations in Chile by the end of January. In a statement, BTG Pactual said the unit, known as Banco BTG Pactual Chile, wanted a full banking license in Chile to "grow...

  • Dec 16- The Financial Industry Regulatory Authority, Wall Street's industry-funded regulator, fined Bank of America Corp's Merrill Lynch unit $1.9 million for unfair pricing related to the purchase of distressed securities over two years. Merrill Lynch's global banking and markets credit trading desk had bought senior notes of Motors Liquidation Co,...

  • Italian reforms: A step in the right direction?  Monday, 15 Dec 2014 | 4:30 AM ET

    Italian Prime Minister Matteo Renzi's labour reforms are a "step in the right direction", according to Anatoli Annenkov, senior European economist at Societe Generale, who argues that much more is needed, nevertheless.

  • Dodd-Frank battle over banks erupts anew in DC Friday, 12 Dec 2014 | 7:40 AM ET
    Then-Sen. Chris Dodd (L) and then-Rep. Barney Frank at the signing of the Dodd-Frank act in 2010.

    The move to roll back Dodd-Frank regulations of big banks has drawn the wrath of Democrats ... and even Republicans. The NYT reports.

  • Wall St. watchdog gift rules could get makeover Wednesday, 10 Dec 2014 | 1:44 PM ET

    Dec 10- Wall Street's industry-funded regulator, in step with the holiday season, has made new recommendations for possible changes to its rules about how securities brokers give and receive gifts. The recommendation on Tuesday to retool the gift rules is part of an overall review of the effectiveness and costs to the industry of the Financial Industry...

  • NEW YORK, Dec 2- Citigroup Inc is shutting down its alternative stock trading venue LavaFlow, the bank said on Tuesday, at a time when regulatory scrutiny has increased around broker-run trading platforms, forcing banks to rethink the costs. "Following a recent review of the LavaFlow ECN, we have decided that our capital, resources and efforts would be better...

  • QE isn't the answer for Europe  Tuesday, 2 Dec 2014 | 4:00 AM ET

    Continued reform and measures to encourage banks to lend in Europe would be better than outright sovereign quantitative easing says Paras Anand, head of European equities at Fidelity Worldwide Investment.

  • ECB will fulfil its mandate: France's Macron  Friday, 28 Nov 2014 | 4:00 AM ET

    The European Central Bank will fulfil its mandate in the next weeks, says Emmanuel Macron, French economy minister, adding that France will put forth further reforms to parliament.

  • WASHINGTON, Nov 25- The U.S. Federal Reserve on Tuesday proposed to impose tougher capital standards on General Electric's finance unit, one of a handful of non-bank firms deemed critically important to the health of the financial system. "GE Capital has been preparing for the enhanced regulatory standards provided for in the Dodd-Frank Act," company spokesman...