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Financial Reform

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  • BOSTON, March 23- Bank of America's Merrill Lynch brokerage unit agreed to pay a $2.5 million fine in Massachusetts to settle charges that it failed to follow its own compliance rules, the state's top securities regulator said on Monday. Secretary of the Commonwealth William Galvin accused Merrill, Lynch, Pierce, Fenner& Smith of failing to supervise employees...

  • Another Fannie Freddie bailout? No way: Dick Bove Monday, 23 Mar 2015 | 10:09 AM ET
    Richard Bove

    The buzz about another possible bailout of Fannie Mae and Freddie Mac doesn't make any sense, says Dick Bove. Here's why.

  • Why is the SEC still so low-tech? Friday, 20 Mar 2015 | 4:49 PM ET
    Michael Douglas as Gordon Gekko in the 1987 Oliver Stone film, "Wall Street."

    The SEC's entire corporate-disclosure operation is based on the written document. That's a huge problem, says this watchdog.

  • LONDON, March 20- The Bank of England said on Friday that it would apply new European Union insurance regulations "proportionately", following industry fears that the central bank might seek to add extra rules for companies based in Britain. The so-called Solvency II rules, which take effect in 2016, aim to ensure that insurers such as Britain's Prudential and...

  • Refaeli hopes for change with Israel   Wednesday, 18 Mar 2015 | 12:40 PM ET
    Refaeli hopes for change with Israel

    Supermodel, Bar Refaeli says she hopes for a change in Israel following the Likud victory in yesterday's elections.

  • Leslie: Labour party has a better plan   Wednesday, 18 Mar 2015 | 12:00 PM ET
    Leslie: Labour party has a better plan

    After the UK budget meeting, Chris Leslie, Shadow Chief Secretary to the Treasury, gives his reaction, explaining why the Labour plan is better for certain sectors.

  • UK budget: The real shock factor   Wednesday, 18 Mar 2015 | 12:00 PM ET
    UK budget: The real shock factor

    Talking about the UK budget, Dr. Brian Hilliard, chief UK economist at Societe Generale, says that the UK is "doing pretty well, but there's more to be done."

  • Leadsom: UK growth not down to luck   Wednesday, 18 Mar 2015 | 12:00 PM ET
    Leadsom: UK growth not down to luck

    The last U.K. budget speech before the U.K. general election has taken place. Andrea Leadsom, Economic Secretary to the Treasury of the Conservative Party, gives her reactions.

  • WASHINGTON, March 18- U.S. housing finance companies Fannie Mae and Freddie Mac could require more bailouts from U.S. taxpayers as risks are rising due to shrinking reserves, an internal watchdog for the firms' regulator said on Wednesday. Taxpayers pumped $116.1 billion into Fannie Mae following the U.S. housing market collapse, while Freddie Mac was propped up...

  • WASHINGTON/ LONDON, March 17- The British units of foreign banks could be required by UK regulators to submit to annual health exams for the first time, banking and industry sources said, potentially bringing Britain's policies into line with those of the U.S. The UK's Prudential Regulation Authority has recently started asking foreign banks to submit data, the...

  • White's announcement, made at a Securities Industry and Financial Markets Association conference in Arizona, mark the first time she has articulated a position on the controversial subject since taking over the helm of the SEC in the spring of 2013.. The SEC and the Labor Department are each governed by different laws and are able to act independently of one...

  • LONDON, March 17- Watchdogs leading a crackdown on mis-sold products across the financial services industry could find a case against a breed of high-fee investment funds known as "index huggers" difficult to prove. Now financial watchdogs in Europe are turning their attention to investment funds. "It is mis-selling if a manager is perfectly conscious of...

  • UK bans first trader over Libor after US conviction Tuesday, 17 Mar 2015 | 7:27 AM ET
    The exterior of the headquarters of Dutch co-operative bank Rabobank in Utrecht.

    A former trader at Rabobank has become the first trader banned from the British financial services industry over Libor interest rate rigging.

  • LONDON, March 17- A former trader at Dutch lender Rabobank has become the first trader banned from the British financial services industry over Libor interest rate rigging after he was convicted of fraud in the United States. The Financial Conduct Authority said on Tuesday that Paul Robson, who last year pleaded guilty to being part of a conspiracy to...

  • 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.