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Financial Reform

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  • LONDON, May 27- Lloyds Banking Group expects to float about 25 percent of its TSB business on the London Stock Exchange next month, it said on Tuesday, kicking off a process regulators hope will create a vibrant challenger to Britain's dominant high-street lenders.

  • Credit Suisse's trading ties under FINRA scanner - WSJ Thursday, 22 May 2014 | 9:45 AM ET

    May 22- Wall Street's industry-funded regulator is examining ties between Credit Suisse Group AG and a number of trading firms over concerns that the Swiss bank enabled potentially improper trading, the Wall Street Journal reported, citing people familiar with the probe.

  • *Central bank highlights corporate bad loans. BUDAPEST/ LONDON, May 22- Hungary's central bank proposed regulatory action on Thursday to encourage commercial banks to clean bad corporate loans from their books, a move which could improve their ability to lend and accelerate a shake-up of the sector.

  • SYDNEY, May 22- Hong Kong Exchanges and Clearing Ltd is targeting a fourth quarter launch for its mini metals and coal futures contracts, pending regulatory approval, an executive said on Thursday.

  • LONDON, May 21- The second round of a battle between banks and bourses kicks off this week when European Union regulators publish proposals for the biggest shake-up of the bloc's securities market in history to increase transparency and investor protection.

  • HONG KONG, May 19- Hong Kong H-shares finished lower on Monday, as Chinese bank stocks slide in line with those on the mainland in the wake of stiffer regulation of interbank lending and weak economic data. Weakness in consumer staples was a drag on Hong Kong's main index, with Belle International Holdings Ltd down 3.2 percent.

  • FRANKFURT, May 19- Deutsche Bank said a decision to seek 8 billion euros in new equity capital was driven by uncertainty about the cost of new regulations and the need for funds to expand its investment banking business. It plans to sell the new shares combined with at least 1.5 billion euros in hybrid debt by June 4.

  • LONDON, May 15- RP Martin was fined $2.3 million by British and U.S. regulators over allegations its traders manipulated benchmark interest rates, a penalty reduced by two thirds because the small UK brokerage was unable to pay the full amount.

  • Sallie Mae settles overcharging claims for $60 mln Wednesday, 14 May 2014 | 9:28 AM ET
    U.S. Department of Justice, Washington, D.C.

    Sallie Mae has reached a $60 million settlement with the government to resolve allegations that it overcharged military service members.

  • *Banks can help develop digital economy- Bitcoin Foundation. LONDON, May 13- Regulators should create a framework of rules to help to make virtual currencies such as bitcoin more attractive to ordinary consumers, a lawyer from the Bitcoin Foundation said on Tuesday.

  • May 12- Citizens Financial Group Inc, the U.S. unit of Britain's Royal Bank of Scotland, filed with U.S. regulators for an initial public offering of common stock that would raise about $100 million.

  • WASHINGTON, May 8- Government-controlled mortgage finance firms Fannie Mae and Freddie Mac will send the U.S. Fannie Mae and Freddie Mac's regulator, the Federal Housing Finance Agency, sued large banks and financial institutions over mortgages sold to the companies leading up to the housing crisis.

  • CHICAGO, May 6- The quality of U.S. stock markets will improve if regulators limit trading that happens outside of exchanges, the head of CBOE Holdings Inc said on Tuesday after the company reported higher-than-expected quarterly earnings.

  • LONDON, May 2- Shining a light on the murky $70 trillion world of "shadow banking" is proving tricky for regulators handicapped by too little data and under pressure to boost economic growth, and this means risks may be escaping proper scrutiny. The sector is growing, up by $5 trillion in 2012 with an increase in China causing regulators there to intervene.

  • The Securities and Exchange Commission said the NYSE, two of its exchanges and one affiliated brokerage "repeatedly engaged in business practices that either violated exchange rules or required a rule when the exchanges had none in effect." The NYSE agreed to settle the matter and pay a $4.5 million penalty without admitting or denying the charges.

  • CHICAGO, May 1- CME Group Inc sought on Thursday to calm investors' concerns about its exposure to possible U.S. regulations targeting high-frequency trading after the world's largest futures market operator reported a 13 percent rise in first-quarter earnings.

  • *Europe heeds past mistakes, evolution of US tests. LONDON, May 1- Europe's banking watchdog has edged closer to the United States in a check up of its banks this year and is keen to go further still to increase its influence over how banks behave, including how much they pay staff or shareholders.

  • Thomas Hoenig, vice chairman of the Federal Deposit Insurance Corp, made the comments after Bank of America announced earlier this week that it would have to re-do its test results after discovering a calculation error that led it to overstate its capital levels by about $4 billion.

  • NEW YORK, April 29- First Horizon National Corp will pay $110 million to resolve claims it misled Fannie Mae and Freddie Mac into buying mortgage-backed securities that later went sour, a U.S. regulator said on Tuesday. As part of the deal, First Horizon will pay $61.6 million to Fannie Mae and $48.4 million to Freddie Mac, the FHFA said.

  • WASHINGTON, April 29- A top U.S. federal regulator said on Tuesday that it's going to "take a lot of work" before officials can be confident that Wall Street banks are not too complex to manage. He also said the Office of the Comptroller of the Currency is having an "active discussion" with big banks about how to simplify their legal structures.