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Congress Financial Reform

  • 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..

  • Sept 27- Credit-reporting firms will be subject to stricter regulatory monitoring following the massive data breach that Equifax Inc disclosed this month, the head of the Consumer Financial Protection Bureau said on Wednesday. The CFPB is working with the Federal Trade Commission and the New York Department of Financial Services on a new regulatory...

  • LONDON, Sept 27- "Overbanking" in Europe should first be tackled at the local level, making it easier to reap cost savings and pave the way for cross-border tie-ups, the European Union's banking watchdog said. Regulators like the European Central Bank have long spoken about the European Union being "overbanked", and the need for consolidation to try to bolster...

  • LONDON, Sept 26- The European Union's London- based banking watchdog has lost nearly a tenth of its staff in just two months as fewer people apply for jobs and more leave because of Brexit. From its base in Canary Wharf, one of London's two main business districts, the European Banking Authority is responsible for fleshing out the bloc's banking laws.

  • Mexico's Finance Ministry and banking regulator CNBV said in a statement that the license for KEB Hana Bank was formally approved on Friday and the new lender will mainly focus on corporate finance and international trade between South Korea and Mexico.