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  • LONDON, June 29- Clearing houses and payment systems must show by June 2017 how their core operations would recover within two hours from a cyber attack, regulators said on Wednesday in their first global financial sector guidelines for tackling hackers. Mary Jo White, chair of the U.S. Securities and Exchange Commission- one of the watchdogs behind the new...

  • LONDON, June 29- Clearing houses and payment systems must show by June 2017 how their core operations would recover within two hours from a cyber attack, regulators said on Wednesday in their first global financial sector guidelines for tackling hackers. Mary Jo White, chair of the U.S. Securities and Exchange Commission- one of the watchdogs behind the new...

  • LONDON, June 29- Clearing houses and payment systems must show by June 2017 how their core operations would recover within two hours from a cyber attack, regulators said on Wednesday in their first global financial sector guidelines for tackling hackers. Mary Jo White, chair of the U.S. Securities and Exchange Commission- one of the watchdogs behind the new...

  • LONDON, June 29- Clearing houses and payment systems must show by June 2017 how their core operations would recover within two hours from a cyber attack, regulators said on Wednesday in their first global financial sector guidelines for tackling hackers. Mary Jo White, chair of the U.S. Securities and Exchange Commission- one of the watchdogs behind the new...

  • WASHINGTON, June 28- The top U.S. securities regulator on Tuesday proposed a rule intended to ensure that investors are not harmed when asset managers fall on hard times or close up shop. "This is an important part of Chair White's rulemaking agenda for the asset management industry," said David Blass, general counsel for the Investment Company Institute, the...

  • WASHINGTON, June 28- The top U.S. securities regulator on Tuesday proposed a rule intended to ensure that investors are not harmed when asset managers fall on hard times or close up shop. "While an adviser may not always be able to prevent significant disruptions to its operations, advance planning and preparation can help mitigate the effects of such...

  • WASHINGTON, June 28- The top U.S. securities regulator on Tuesday proposed a rule intended to ensure that investors are not harmed when asset managers fall on hard times or close up shop. "While an adviser may not always be able to prevent significant disruptions to its operations, advance planning and preparation can help mitigate the effects of such...

  • WASHINGTON, June 28- The top U.S. securities regulator on Tuesday proposed a rule intended to ensure that investors are not harmed when asset managers fall on hard times or close up shop. "While an adviser may not always be able to prevent significant disruptions to its operations, advance planning and preparation can help mitigate the effects of such...

  • Trader brexit reaction

    Post-Brexit stock prices continue to decline, but with the earnings period approaching, big banks may miss out on buybacks.

  • Frustrated with delays, human rights group Oxfam in 2014 sued the SEC over the rule, which was mandated by the Dodd-Frank Wall Street Reform Law passed four years earlier. "After six years, we are very pleased to see the SEC release final rules that align with those in other markets by requiring fully public, company-by-company, project-level reporting with no...

  • WASHINGTON, June 27- The U.S. Securities and Exchange Commission on Monday approved a rule requiring oil, gas and mining companies to disclose payments made to foreign governments, capping a process stalled in the courts for years. It will "provide enhanced transparency," SEC Chair Mary Jo White said in a statement. Frustrated with delays, human rights group Oxfam...

  • Lynn Tilton, CEO of Patriach Partners.

    The distressed investor tags in new lawyers, replacing a firm that worked on the SEC’s fraud case against her.

  • But the SEC has alleged that behind the scenes, he cheated investors out of $80 million to fund a "debauched" jet-setting lifestyle. Their investments were largely used to pay personal expenses for Faulkner, his associates, family and friends, the SEC alleged. But after raising funds, Faulkner did little drilling and instead racked up millions in credit card...

  • WASHINGTON, June 24- U.S. financial regulators on Friday said the country's financial system is functioning in an "orderly manner" after Britain voted to leave the European Union and sent markets around the globe reeling. The Financial Stability Oversight Council- which includes the heads of the U.S. Treasury, Securities and Exchange Commission and Federal...

  • Merrill Lynch violated an SEC rule for protecting customers' assets by holding up to $58 billion a day in a clearing account, Andrew Ceresney, the SEC's enforcement director, said in a call with reporters. If Merrill Lynch's business failed during those trades, customers would have been exposed to a massive shortfall in the reserve account, the SEC said.

  • June 23- Bank of America Corp's Merrill Lynch unit will pay a $10 million penalty to settle charges its offering materials for a risky type of note misled investors, the U.S. Securities and Exchange Commission said on Thursday. The Financial Industry Regulatory Authority separately fined Merrill $5 million for negligent disclosures related to the sale of...

  • An SEC investigation found that Merrill Lynch violated the an SEC rule in place for protecting customers' assets by misusing customer cash that should have been deposited in a reserve account, the agency said. The maneuver freed up billions of dollars per week from 2009 to 2012 that Merrill Lynch used to finance its own trading activities, the SEC said.

  • An SEC investigation found that Merrill Lynch violated the SEC's "Customer Protection Rule" by misusing customer cash that rightfully should have been deposited in a reserve account.

  • A federal judge issued an emergency order freezing assets belonging to the defendant, Idris Dayo Mustapha, the SEC said on Wednesday, shortly after filing its civil lawsuit with the U.S. District Court in Manhattan. The SEC said Mustapha, 30, generated at least $68,000 of profit, while costing his unwitting victims about $289,000. "We will swiftly track down...

  • Bart Chilton

    CFTC's new trading rule asks private companies for proprietary information it just doesn't need, says former CFTC Commissioner Bart Chilton.