Financial Reform


  • 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.

  • WASHINGTON, March 12- A U.S. "Whatever business model you want to use is perfectly fine with us, as long as it is not a business model that is entirely based on conflicts of interest," said Phyllis Borzi, the assistant secretary of the Employee Benefits Security Administration, in remarks at an event held by the Financial Services Roundtable.

  • Beware Bitcoin - U.S. brokerage regulator Tuesday, 11 Mar 2014 | 3:08 PM ET

    In an investor alert titled "Bitcoin: More than a Bit Risky," the Financial Industry Regulatory Authority said recent events such as the bankruptcy of Bitcoin exchange operator Mt. "Speculators drawn to bitcoin trading should understand that bitcoin prices have fluctuated widely, and wildly," said Gerri Walsh, FINRA's vice president for investor education.

  • UPDATE 3-China launches private bank pilot programme Tuesday, 11 Mar 2014 | 5:56 AM ET

    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.

  • BEIJING, March 11- Following are comments from a media conference by Zhou Xiaochuan, the governor of the People's Bank of China, Deputy Governor Yi Gang, the head of China Banking Regulatory Commission, Shang Fulin, as well as the heads of China Insurance Regulatory Commission and the China Securities Regulatory Commission. For a related story, see.

  • MILAN, March 4- Euro zone banks could be forced to disclose any major balance sheet gaps discovered in a health check on the industry before the results are made public in October, the head of the European banking watchdog said on Tuesday.

  • BEIJING, Feb 27- China's foreign exchange regulator has launched an investigation into the possible impact from recent yuan depreciation on foreign exchange transactions at domestic banks and companies, banking sources said on Thursday.

  • DIARY - Top economic Events to Mar 11 Wednesday, 26 Feb 2014 | 7:01 AM ET

    WOOSTER, United States- Federal Reserve Bank of Cleveland President Sandra Pianalto gives lecture, "Reflections on 35 Years with the Federal Reserve System" at the James R. Wilson Lecture Series hosted by the College of Wooster- 0030 GMT. SAITAMA, Japan- Bank of Japan board member Koji Ishida speaks to business leaders in Saitama- 0130 GMT.

  • Discover Financial faces US probe over student lending Tuesday, 25 Feb 2014 | 5:47 PM ET

    The Consumer Financial Protection Bureau has issued a civil investigative demand to Discover Bank seeking information regarding certain student loan servicing practices, Discover said in its annual filing on Tuesday.

  • WASHINGTON, Feb 25- U.S. financial regulators plan to release on March 20 the results of annual stress tests, which weigh banks' ability to withstand an economic crisis, the Federal Reserve said on Tuesday. Last year, the Fed initially vetoed submissions by BB&T Corp and Ally Financial.

  • "I think we've gotten the details worked out and now it's just getting the schedule and... getting everyone lined up," Federal Deposit Insurance Corp Vice Chairman Thomas Hoenig told reporters at a conference.

  • *Swedish banks' cost-income ratios at low end of Europe. STOCKHOLM, Feb 21- Swedish banks are pulling ahead of the pack in Europe, showing their peers it is possible to stay on top of regulatory demands to hold more capital while rewarding shareholders with a focus on profitability rather than growth.

  • WASHINGTON, Feb 14- The Obama administration will allow banks to do business with licensed marijuana companies with a reduced fear of criminal prosecution if the banks meet a series of conditions, a U.S. Justice Department official said on Friday.

  • Feb 10- Wall Street veterans would no longer be allowed to act as arbitrators in many legal disputes between investors and their brokerages under a proposal that a U.S. regulator will present to its board on Thursday, a person familiar with the matter said.

  • Feb 6- Exchange operator BATS Global Markets said on Thursday it would outsource part of the surveillance of its four U.S. stock markets to the Financial Industry Regulatory Authority, expanding the industry-funded watchdog's oversight to nearly all equities markets.

  • Federal Reserve Governor Daniel Tarullo told the Senate Banking Committee that regulators require banks to notify customers and take certain remediation steps when breaches happen. Bank groups argued in letters to Congress this week that retailers' lack of disclosure requirements prevents information from reaching customers quickly.

  • Feb 6- BATS Global Markets Inc said Financial Industry Regulatory Authority, the self-regulatory arm of the brokerage industry, will provide cross-market surveillance services to BATS' four stock exchanges. Following the agreement with BATS, FINRA will now conduct surveillance across 99 percent of the market for U.S. listed equities.

  • NEW YORK/ LONDON, Feb 5- New York banking regulator Benjamin Lawsky is seeking documents from some of the biggest banks in foreign exchange trading, including Deutsche Bank, Goldman Sachs and Barclays, a source familiar with the matter said Wednesday, as a global probe into possible market manipulation widens.

  • NEW YORK, Feb 5- Benjamin Lawsky, New York's financial services superintendent, has opened an investigation into manipulation of the currency markets by large banks and is requesting documents from more than a dozen institutions, according to a source familiar with the matter.