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Congress Financial Reform

  • SYDNEY, Oct 23- Australia and New Zealand Banking Group Ltd has reached a last-minute agreement to settle a case brought by the country's securities regulator accusing it of manipulating the bank bill swap rate. Australia's third-largest lender, which had previously said it would defend itself against the allegations, did not give a reason for its decision to...

  • SYDNEY, Oct 23- Australia and New Zealand Banking Group Ltd has reached a last-minute agreement to settle a case brought by the country's securities regulator accusing it of manipulating the bank bill swap rate. Australia's third-largest lender, which had previously said it would defend itself against the allegations, did not give a reason for its decision to...

  • Oct 23- Australia and New Zealand Banking Group Ltd said it had reached a deal with the Australian Securities and Investments Commission to settle court proceedings relating to possible manipulation of the bank bill swap rate. Australia's No.3 lender declined to say how much it would have to pay under the terms of the "confidential in-principle agreement"...

  • BEIJING, Oct 19- China's top banking regulator said on Thursday that the country will further open up its banking system to foreign investors, who have failed to make inroads into the highly regulated sector and seen their market share decline. The market share of foreign banks in China has decreased to 1.2 percent now from 2.4 percent 10 years ago, Guo said.

  • TORONTO, Oct 17- Shares of Canadian marijuana company Aphria Inc sank on Tuesday, after the operator of the Toronto Stock Exchange said cannabis companies with U.S. interests would come under heightened scrutiny and could be delisted. Aphria tumbled 9 percent to C $7.21 in morning trading, after TMX Group Ltd said after the bell on Monday it would launch a review...

  • TORONTO, Oct 16- Canada's TMX Group Ltd, operator of the Toronto Stock Exchange, said on Monday that it might delist stocks of marijuana companies with interests in the United States, where their operations are illegal under federal law. The regulators did not prohibit marijuana firms with U.S. ties from listing in Canada, leaving room for any firms rejected by TMX...

  • TORONTO, Oct 16- Canada's TMX Group Ltd, operator of the Toronto Stock Exchange, said on Monday that it may move to delist stocks of marijuana companies with interests in the United States, where their operations are illegal under U.S. federal law. TMX disclosed its plans as Canadian securities regulators tightened up rules requiring firms to disclose their...

  • NEW YORK, Oct 16- A brokerage industry regulator on Monday ordered Wells Fargo& Co to return $3.4 million to customers after selling them inappropriate investment products, the latest sign that a culture of problematic sales practices has bled into areas outside its consumer bank. From July 2010 to May 2012, Wells Fargo brokers sold risky exchange-traded...

  • NEW YORK, Oct 16- A brokerage industry regulator on Monday ordered Wells Fargo& Co to return $3.4 million to customers after selling them inappropriate investment products, the latest sign that a culture of problematic sales practices have bled into areas outside its consumer bank. From July 2010 to May 2012, Wells Fargo brokers sold risky exchange-traded...

  • NEW YORK, Oct 13- Student online lender Social Finance Inc said on Friday that it is withdrawing its application for a bank license in the wake of the departure of a number of senior executives, including co-founder and former Chief Executive Mike Cagney. The San Francisco- based company had applied with state regulators in Utah and the U.S. Federal Deposit...

  • WILMINGTON, Del., Oct 10- Wilmington Trust Corp said on Tuesday it has reached a $60 million deal to resolve U.S. criminal charges that the bank concealed its deteriorating condition from regulators and investors in 2009 and 2010, just as a trial was set to begin. "Wilmington Trust believes resolving this matter now is in the best interest of the company," the company...

  • WILMINGTON, Del., Oct 10- Wilmington Trust Corp has reached an agreement on criminal charges that the bank concealed its deteriorating condition from regulators and investors in 2009 and 2010, a U.S. judge said on Tuesday, just as a trial was set to begin. District Judge Richard Andrews said the trial against the four individual defendants, who are former...

  • Oct 9- Petra Diamonds Ltd said on Monday it was likely to breach a key condition of its banking agreements due to labour disruption at is South African operations and uncertainty around sales volumes in Tanzania. Petra has been hit by labour disputes at three of its units in South Africa and tighter regulations by the Tanzanian government around exports out of...

  • *Treasury says global regulatory forums need greater transparency Could put U.S. on collision course with Europe, other countries. WASHINGTON/ LONDON, Oct 6- The U.S. The recommendation comes days before global regulators from the Basel Committee and the Financial Stability Board are due to convene in Washington ahead of an International Monetary Fund...

  • *Treasury says global regulatory forums need greater transparency Could put U.S. on collision course with Europe, other countries. WASHINGTON/ LONDON, Oct 6- The U.S. The recommendation comes days before global regulators from the Basel Committee and the Financial Stability Board are due to convene in Washington ahead of an International Monetary Fund...

  • WASHINGTON, Oct 5- Revenues for the $6 billion payday loan industry will shrivel under a new U.S. rule restricting lenders' ability to profit from high-interest, short-term loans, and much of the business could move to small banks, according to the country's consumer financial watchdog. The Consumer Financial Protection Bureau released a regulation on...

  • WASHINGTON, Oct 5- Revenues for the $6 billion payday loan industry will shrivel under a new U.S. rule restricting lenders' ability to profit from high-interest, short-term loans, and much of the business could move to small banks, according to the country's consumer financial watchdog. The Consumer Financial Protection Bureau released a regulation on...

  • WASHINGTON, Oct 4- The head of a private investment firm came one step closer to leading the Federal Reserve's regulatory efforts Wednesday, a key post as President Donald Trump endeavors to trim regulations to boost economic growth. The U.S. Senate voted 62-33 to limit debate on Randal Quarles' nomination to join the Fed's Board of Governors, guaranteeing...

  • *Lobby says more banks could announce job moves to Paris. PARIS, Oct 2- France has launched a public consultation over how financial service regulations can be simplified, the finance ministry said on Monday, stepping up its campaign to lure London bankers after Britain's vote to leave the European Union. Paris is playing catch-up with other EU financial hubs,...

  • LONDON, Oct 2- Banks operating in Britain must find a net 4 billion pounds by 2022 to comply with rules aimed at shielding taxpayers if lenders go bust, the Bank of England said on Monday. Regulators want to ensure the City of London will remain attractive to big international financial companies as Britain prepares to leave the European Union in March, 2019..