Financial Reform
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SALT LAKE City, May 23- After dozens of meetings with executives and regulators, 100,000 hours of employee training and an immeasurable amount of public grief, Goldman Sachs Group Inc CEO Lloyd Blankfein claimed success in putting his bank and his legacy back on track.
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LONDON, April 24- Britain's financial regulator has fined the UK subsidiary of Swiss private banking group EFG International 4.2 million pounds for failing to establish effective anti-money laundering controls for its wealthy customers.
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BRUSSELS, April 24- EU antitrust regulators will examine IntercontinentalExchange Inc's $8.2 billion takeover of NYSE Euronext in line with a request from the exchange operators themselves, a spokesman for the European Commission said on Wednesday.
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April 24- Nasdaq OMX Group Inc has set aside cash to reimburse firms harmed in Facebook Inc's botched market debut last May, and to possibly settle a regulatory probe into the matter, denting the exchange operator's first quarter profits.
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Robert Pickel, CEO of the International Swaps and Derivatives Association, delves into the complexities of setting global standards for the derivatives market.
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Scott Reiman, founder and president of investment firm Hexagon Inc, agreed to pay nearly $900,000 to settle the civil case brought by the Securities and Exchange Commission, the agency said.
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NEW YORK, April 12- M&T Bank Corp's proposed purchase of Hudson City Bancorp Inc will probably take more time to close than previously expected because of U.S. regulatory concerns over anti-money-laundering procedures, the banks said on Friday.
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April 8- CME Group Inc paid its former CEO Craig Donohue $6.1 million last year, making him its highest-paid executive even though he held the post for only the first four months of 2012, according to a regulatory filing on Monday.
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April 8- CME Group Inc paid its former CEO Craig Donohue $6.1 million last year, making him its highest-paid executive even though he held the post for only the first four months of 2012, according to a regulatory filing on Monday.
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LONDON, April 5- Bailed-out British lender HBOS was so badly run it would have failed even without the 2008 financial crisis and the regulator should consider banning its former bosses from the industry, UK lawmakers said in a damning report.
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LONDON, April 5- Bailed-out British lender HBOS was so badly run it would have failed even without the 2008 financial crisis and the regulator should consider banning its former bosses from the industry, UK lawmakers said in a damning report.
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Martin Schulz, senior economist at Fujitsu Research Institute, tells CNBC that many Japanese business leaders remain skeptical over prime minister Abe's motives for reform.
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WASHINGTON, April 2- Bank of America Corp agreed to pay $165 million to settle charges by the U.S. credit union regulator involving sales of mortgage-backed securities to corporate credit unions that have since failed, the regulator said on Tuesday.
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WASHINGTON, April 2- Bank of America Corp agreed to pay $165 million to resolve claims from the U.S. credit union regulator over purchases of mortgage-backed securities by corporate credit unions that have since failed, the regulator said on Tuesday.
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BEIJING, April 2- China will strengthen supervision of new financial products, particularly ones with complex structures and high leverage, to combat potential risks to the banking sector, the industry's regulator said.
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Thousands of U.K. financial sector workers risk being frozen out of the industry unless they pass mandatory tests measuring their personal ethics and integrity.
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China's financial reform campaign has indeed chalked up considerable victories, but it appears more time will be needed before additional and necessary reform measures take root. The Caixin reports.
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American International Group is investing billions of dollars in "big data" as part of its major focus on "rebuilding the foundation of the company," CEO Robert Benmosche told CNBC.
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BRUSSELS, March 26- The International Swaps and Derivatives Association may have joined with investment banks to keep exchanges out of the credit derivatives market, European Union regulators said on Tuesday, expanding an investigation into the sector.
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BRUSSELS, March 26- The International Swaps and Derivatives Association may have acted with investment banks to block exchanges from entering the credit derivatives market, EU antitrust regulators said as they expanded their investigation into the sector.
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LONDON, March 26- A bank should limit its exposure to any other single bank at no more than 5 percent of its capital base to ensure it can stay in business if the other lender defaults, global regulators proposed on Tuesday. Basel is now proposing an enforceable global cap at half that level.