BEIJING, March 11- China will launch pilot programmes testing the development of privately-owned banks in Tianjin, Shanghai, Zhejiang and Guangdong, the country's bank regulator Shang Fulin said on Tuesday.» Read More
WASHINGTON, Nov 20- Payday lender Cash America International will refund consumers $14 million and pay a $5 million fine to settle civil allegations that it improperly pursued some customers' debt and overcharged military service members, U.S. regulators said on Wednesday.
Chi Lo, Senior Strategist, Greater China, BNP Paribas Investment Partners and Frederic Neumann, MD & Co-Head of Asian Economics Research at HSBC say shadow banking and credit risks could still rise in the next few years despite China's reform plans.
NEW YORK, Nov 12- Wall Street's industry-funded watchdog is developing a new rule that would require clearing firms to regularly provide it with data about brokerage transactions, U.S. regulators said on Tuesday.
WASHINGTON, Nov 12- Wall Street banks could get greater power to fight back against bad report cards on their efforts to combat money laundering under a proposal being discussed by U.S. regulators and the financial industry.
Nov 8- IntercontinentalExchange Inc said its takeover of NYSE Euronext would close on Nov. 13, after clearing final regulatory hurdles on Friday. The derivatives exchange and clearing house operator said in December it would buy the owner of the New York Stock Exchange in a deal that also gives ICE control of Liffe, Europe's No. 2 derivatives market.
Nov 8- NYSE Euronext said its more than $10 billion takeover by IntercontinentalExchange Inc is set to close on Nov. 13. The two companies now have all the regulatory approvals necessary to proceed with the closing, NYSE said in a statement on Friday.
Jing Ulrich, managing director at JPMorgan, says Chinese reforms should be wide-ranging and reveal the country's roadmap for the coming years and advises investing in services and consumer stocks.
Geoff Raby, Vice Chairman, Macquarie Group China also the Former Australian Ambassador to the PRC speaks about the likely reforms China's leaders may unveil at the Third Plenum.
"The key to establishing venture exchanges is to create a platform which could encourage smaller companies to enter our public markets while at the same time providing adequate protection for investors," said Daniel Gallagher, a Republican member of the Securities and Exchange Commission, in prepared remarks at a futures industry conference in Chicago.
*Some banks including HSBC contest proposed penalties. BRUSSELS, Nov 5- EU antitrust regulators are set to fine six global banks including Deutsche Bank, JPMorgan and HSBC for suspected rigging of benchmark euro zone interest rates, a person familiar with the matter said on Tuesday.
The regulator, which oversees mortgage finance companies Fannie Mae and Freddie Mac, said the restrictions on the fees banks collect from insurers on so-called force-placed insurance would probably reduce costs for consumers.
Uwe Parpart, head of research at Reorient Financial Markets, describes China's housing market as "healthy" and expects some "very important" reforms to be announced regarding interest rates.
SHANGHAI, Nov 1- China's money rates trended lower this week after roller-coaster trading, driven by cash demand for corporate tax payments coming due, and the need for banks to meet regulatory requirements such as loan-to-deposit ratios.
The Federal Deposit Insurance Corp and Office of the Comptroller of the Currency approved similar proposals on Wednesday.
Former Rep. Barney Frank said it would be embarrassing and wrong if JPMorgan ended up being compensated by the FDIC.
TOKYO, Oct 29- Japan's financial regulator will widen a probe next week into whether all three of the country's big banks, including top lender Mitsubishi UFJ Financial Group, conducted transactions with Japanese gangsters, known as the yakuza.
TOKYO, Oct 29- Japan's Financial Services Agency said on Tuesday it will start inspection of three major banks, including the country's top lender Mitsubishi UFJ Financial Group, from next week over possible transactions involving "yakuza" mobsters.
Oct 25- Fannie Mae and Freddie Mac on Friday said they will terminate their traditional employee pension plans by the end of the year, at the direction of the regulator of the government-controlled mortgage companies.
WASHINGTON, Oct 24- U.S. lenders will get at least six months' notice before the government reduces the limit on the size of loans that taxpayer-owned Fannie Mae and Freddie Mac can back, the firms' regulator said on Thursday. The housing finance industry had expected officials to lower the limits on Fannie Mae and Freddie Mac- backed loans on Jan. 1.
Oct 23- A Beverly Hills securities broker, whose clients included Hollywood stars, is being accused by Wall Street's industry-funded watchdog of lying to regulators and selling worthless securities to unsuspecting customers, including a divorced mother of three.