Beijing summons tycoons in sign of elite's key role in Chinese city Movie, television production companies expected to get FAA permission to fly drones ADB cuts growth forecast for Southeast Asia this year and next due to slower domestic demand Groping, sex propositions and lap dances alleged in harassment suit against call center firm Some lenders reissuing credit, debit cards in wake of Home Depot customer data breach Wal-Mart joins banks appealing to low-income customers by eliminating overdraft fees APNewsBreak: New Jersey casino regulators say unshuffled cards game did not break any rules Asian stock markets higher as Wall Street gains, US home sales data boost sentiment Chairman of Royal Bank of Scotland to step down in 2015; joins board of GSK Families of teens killed in Wisconsin crash drop lawsuit against GM; will consider settlement» Read More
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 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.
LONDON/ FRANKFURT, April 29- European banks must show they can survive simultaneous routs in bonds, property and stocks, in the toughest test so far by regulators aiming to restore confidence in an industry that had to be rescued by taxpayers in the financial crisis.
Regulations on big banks have created a vacuum into which alert entrepreneurs have established commanding positions, says bank analyst Dick Bove.
China's banking regulator has urged authorities and banks to step up an investigation into iron ore financing deals to minimize default risks.
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.