The Securities and Exchange Commission announced the settlement with Citigroup's LavaFlow Inc. on Friday. The settlement includes a $2.85 million penalty, the largest the SEC has imposed on an alternative trading system.» Read More
SHANGHAI, April 28- China's banking regulator has urged local authorities and banks to step up an investigation into iron ore financing deals in a bid to minimize default risks, prompting a sell-off in iron ore futures that saw prices fall nearly five percent. A China Banking Regulatory Commission spokesman declined to comment.
SHANGHAI, April 28- China iron ore futures fell nearly five percent on Monday after the country's banking regulator urged local authorities and banks to step up an investigation into iron ore financing deals in a bid to minimize default risks.
*New rule takes effect in 2019. LONDON, April 15- Global regulators have eased a new rule limiting how much business a bank can undertake with a single customer, as they try to minimise the risk of fallout from a counterparty going bust without imposing excessive burdens on financial firms.
The eight biggest U.S. banks must boost capital levels by a total of about $68 billion under new rules, U.S. regulators said on Tuesday.
WASHINGTON, April 8- The eight biggest U.S. banks must boost capital levels by a total of about $68 billion under new rules, U.S. regulators said on Tuesday, prompting industry complaints that less-stringent global standards will give overseas competitors an advantage.
Noting the rocketing growth of the global asset management industry, which is on track to more than quadruple in size by 2050 to $400 trillion, Bank of England executive director for financial stability Andy Haldane argued that funds may require closer and tighter supervision by regulators.
*Regulator urges banks to act to curb bad loans. *Move comes after banks' bad loan ratios reach 2- year high.
John Woods, MD, Head of Fixed Income & Senior Portfolio Manager at Citi Investment Management, discusses the likelihood of India seeing economic reforms post-election.
WASHINGTON, April 3- Bank of America Corp is close to settling with a U.S. consumer regulator over the sale of services sold as add-ons to credit cards, sources familiar with the talks said.
WASHINGTON, April 3- Bank of America Corp is close to a settlement with the U.S. Consumer Financial Protection Bureau over problems with products sold as add-ons to credit cards, sources familiar with the talks said.
*Tencent, banks and regulators stand in Alibaba's way. HONG KONG/ BEIJING, April 3- Alibaba, the world's biggest e-commerce company, changed how China shops. Joe Tsai, executive vice chairman of Alibaba Group Holding Ltd, sees an Alibaba future that stretches from banking to education, travel to entertainment.
Caterpillar is under scrutiny for its tax strategies as the Senate will be taking a closer look at its tax structures today, reports CNBC's Hampton Pearson.
BERLIN, March 28- A drop-off in major currency market volatility may be due as much to banking regulations and a row over alleged manipulation as to ultra-low interest rates in the developed world, industry figures said on Friday.
Still, it's the more mundane details such as due diligence in hiring that could choke Oppenheimer and Morgan Stanley if regulators extend their investigations, lawyers said.
*Carlyle picks up finance veteran as its profit rises. NEW YORK, March 25- Private equity firm Carlyle Group LP poached one of Jamie Dimon's closest aides, Michael Cavanagh, from JPMorgan Chase& Co on Tuesday, in a surprise hire that reflects both the increasing prominence of so-called shadow banking and the regulatory challenges faced by banks.
Only Zions Bancorporation, a Salt Lake City, Utah- based lender with $56.0 billion in assets, would be left with a regulatory capital ratio beneath the Fed's 5.0 percent minimum under the exercise. M&T Bank Corp 5.9 Bank of America Corp 6.0. Morgan Stanley 6.1 Ally Financial Inc 6.3.
March 18- The Commodity Futures Trading Commission is investigating deals between large high-speed traders and the two futures-exchange operators- CME Group Inc and IntercontinentalExchange Group Inc, the Wall Street Journal reported citing people familiar with the matter.
BOSTON, March 17- Big U.S. companies appear to have handed out smaller increases in compensation to their chief executives in 2013 than in 2012, mainly as a result of reduced grants of stock options, according to an early review of annual regulatory filings.
NEW YORK, March 13- A former analyst affiliated with billionaire Steven A. Cohen's SAC Capital Advisors LP has agreed to pay more than $203,000 and be banned from the securities industry to settle insider trading charges by the U.S. Securities and Exchange Commission.
*Goldman Sachs, JP Morgan, Citigroup, Morgan Stanley are lead underwriters. Synchrony Financial filed a $100 million placeholder with the U.S. Securities and Exchange Commission on Thursday and GE said it expects to complete the IPO later this year. Goldman Sachs& Co, JP Morgan, Citigroup and Morgan Stanley are lead underwriters for the IPO, according to the filing.