"We saw strange things in the data," said Chris Barnes, a former swaps trader now with ClarusFT, a London- based data firm. The missing transactions reflected an effort by some of the largest U.S. banks- including Goldman Sachs, JP Morgan Chase, Citigroup, Bank of America, and Morgan Stanley- to get around new regulations on derivatives enacted in the wake of the financial...
WASHINGTON, Oct 5- Lawmakers and a regulator on Friday took steps to help assauage swap players' concerns about complying with confusing rules that are set to take effect on Oct. 12.
Rep. Spencer Bachus (R-AL) was on CNBC’s “Squawk Box” this morning discussing the financial services industry in the wake of JPMorgan’s trading losses.
"They ruled six to nothing, that not only did I not insider trading but I violated no ethical rules nor any standards of conduct," says Rep. Spencer Bachus, (R-AL) Alabama, discussing insider trading charges brought against him and the results of an Office of Congressional Ethics investigation that followed.