The U.S. pledged to keep any trade deal from weakening its regulations, and said it would press to match efforts to make banking and trading safer.» Read More
Garry Evans, Global Head of Equity Strategy at HSBC, says expectations are high but Prime Minister Abe will struggle to break through the taboos surrounding structural reform in Japan.
WASHINGTON, Aug 8- Fannie Mae and Freddie Mac may be barred from buying home loans in cities that are threatening to use "eminent domain" legal powers to seize mortgages, their regulator said on Thursday.
LONDON, Aug 8- "See no evil, hear no evil, speak no evil" might well have been the motto for Britain's commodity market regulators in recent years. In too many instances, light-touch self-regulation by the exchanges, overseen by the Financial Services Authority, now reincarnated as the Financial Conduct Authority, has degenerated into ineffective or no regulation.
NEW YORK, Aug 7- A surge in currency trading earlier this year and favorable regulatory treatment of the foreign exchange business have unleashed an intense fight on Wall Street, with banks battling one another for a larger share of an increasingly fractured market.
Such reforms would be aimed at cleaning up bank balance sheets and bolstering China's welfare system, said the official, who heads a People's Bank of China branch in a major city and is a member of the National People's Congress, China's parliament.
NEW YORK, Aug 5- Oppenheimer& Co has agreed to pay $1.425 million in fines to resolve charges that the financial services company sold unregistered penny stocks and had inadequate safeguards against money laundering, Wall Street's industry-funded watchdog said.
NEW YORK, Aug 2- Wall Street's industry-funded regulator, FINRA, will review a controversial practice in arbitration cases that critics say makes it too easy for brokers to scrub some black marks from their records, according to an official with the organization.
Stephen Nash, Director of Strategy and Market Development at FIIG Securities, picks apart Mario Draghi's vague message on becoming more transparent.
U.S. securities exchanges and non-exchange trading venues operated by broker-dealers perform largely identical functions in many respects, the Securities Industry and Financial Markets Association said in a letter to the U.S. Securities and Exchange Commission.
NEW YORK, Aug 1- The largest U.S. securities trade group asked regulators on Thursday to end the self-regulatory status of stock exchanges, saying the structure creates conflicts of interest and should be replaced by some form of outside supervision.
Aug 1- CME Group Inc, the world's biggest futures exchange operator, is closely watching regulators' escalating scrutiny of Wall Street's commodity trading and could benefit if it resulted in increased futures trading, top officials said Thursday.
SHANGHAI, Aug 1- The Chinese yuan edged higher on Thursday, driven by banks selling off dollars they had been compelled to retain through the end of July to meet new regulatory requirements, traders said.
WASHINGTON, July 30- Wall Street banks face the prospect of increased scrutiny of their commodity businesses as U.S. regulators and lawmakers on Tuesday pressed for a closer look at their roles in owning warehouses and in trading everything from oil to metals.
WASHINGTON, July 25- A U.S. regulator on Thursday said it reached an $885 million settlement with UBS over allegations the bank misrepresented mortgage-backed bonds that were sold to Fannie Mae and Freddie Mac during the housing bubble.
WASHINGTON, July 23- The U.S. consumer watchdog filed a legal complaint on Tuesday against a Utah- based mortgage company that the regulator said rewarded employees for steering borrowers to pricier loans.
WASHINGTON, July 23- The U.S. consumer watchdog filed a legal complaint on Tuesday against a Utah- based mortgage company that the regulator said was paying employees more to steer borrowers to pricier loans.
*Net fines from CFTC, CME, and FCA of nearly $6 million. LONDON/ NEW YORK, July 22- Regulators in the United States and Britain fined U.S. trading firm Panther Energy Trading LLC and owner Michael Coscia nearly $6 million for manipulating commodities markets, in the latest crackdown on abuses in high-speed automated trading.
ZURICH- UBS's second-quarter profit beat forecasts even though it agreed to settle a lawsuit with the U.S. housing regulator over the mis-selling of mortgage-backed bonds, boosting shares in Switzerland's largest bank to two-year highs. ( SWITZERLAND/ BANKS, moved, by Katharina Bart and Martin de Sa' Pinto, 850 words).
*Morgan Stanley greenlights Houston oil storage, locks in leases. Mounting regulatory and political pressure has already forced Morgan Stanley, Goldman Sachs Group Inc, and JPMorgan Chase& Co, the three Wall Street banks known for their commodities trading prowess in the past decade, to openly consider exiting key businesses.
Steven Saywell, Global Head of FX Strategy at BNP Paribas highlights the key obstacles standing in the way of implementing reforms in Japan.