12/26/2013
SEC Examinations Find Compliance Progress at Credit Rating Agencies
The Dodd-Frank Act requires the SEC to examine NRSRO at least annually
Legal, Regulation & Compliance
12/25/2013
Russia accuses USA of violating bank secrecy
The U.S. authorities have violated several provisions of the Vienna Convention
12/24/2013
U.S. Bank Group Threatens Lawsuit Over Volcker Rule
The American bankers Association on Monday said it would mount a legal challenge to the "Volcker rule" unless U.S. banking regulators softened a provision of the rule that restricts bank ownership of certain investments.
12/20/2013
Deutsche Bank to Pay $6.5M in FINRA Civil Charges
A unit of Deutsche Bank AG will pay $6.5 million to settle civil charges stemming from "serious and operational deficiencies" uncovered by regulators in its enhanced lending program
12/20/2013
New NAMA revelations from US courts
THREE more businessmen have come forward with serious allegations about the leaking of information at NAMA, as controversy surrounding the bad bank deepens.
12/19/2013
Credit Suisse Fraud Exceeded $1 Billion: N.J.’s Hoffman
Credit Suisse Group AG defrauded investors of more than $1 billion by misrepresenting the risks of its residential mortgage-backed securities
12/18/2013
U.S. Preparing civil charges against Citigroup, Merrill Lynch
Civil investigators have compiled evidence that allegedly shows that investors lost tens of billions of dollars after purchasing securities Citigroup had marketed as safe even though the bank had reason to believe otherwise, one person said.
12/17/2013
Appleby Reports Offshore Incorporation Activity For The First Half Of 2013
The number of new incorporations across the whole offshore region has fallen slightly compared with the previous six-month period but as the number of firms ceasing to trade has also dropped, this has allowed most registries to continue to grow. Many are
12/16/2013
The Volcker Rule Makes Us Safer, But Not Safe
Now that a round of mild applause is subsiding for the administration having finally issued regulations for the Volcker Rule, some five years after the 2008 financial crisis.
12/14/2013
UBS 'not responsible' to shareholders in rogue trader claim
US shareholders, including two New York based pension funds, claimed UBS officials and then-chief executive Oswald Gruebel had misled investors by frequently touting the bank’s internal controls prior to Adoboli’s fictious trades being reveale
12/13/2013
GLG Fined $9m for Overvaluing Stake
Hedge fund GLG is said to have overvalued the stake it held in a coal mining company by 60pc for two years
12/12/2013
JPMorgan compliance costs to double in 2014
US banking giant JPMorgan Chase expects to spend US$2 billion in annual compliance costs starting in 2014
12/12/2013
Merrill Lynch Settles CDO Charges for $132M
Bank of America’s Merrill Lynch unit has agreed to pay $132 million to settle civil charges
12/12/2013
KPMG Turned Over China Documents to U.S. Regulators
The handover is part of a U.S.-China deal reached in May that allows the U.S. access to audit firms' documents about their Chinese clients, conveyed to the U.S. through Chinese regulators.
12/12/2013
FATCA System Fails Government Probe, Threatens Privacy
IRS is still unprepared for the law, according to a report by the Treasury Inspector General for Tax Administration.
12/11/2013
Dimon Applauds Certainty With Final Volcker Rule
J.P. Morgan Chase & Co. Chief Executive James Dimon was once a loud critic of the proposed Volcker rule
12/11/2013
Madoff's Ponzi Scheme Taught Us 8 Unforgettable Lessons About Spotting A Fraud
Five years ago today, Bernie Madoff was arrested for running the largest Ponzi scheme.
12/10/2013
US regulators poised to vote on Volcker today
Asset managers owned by European and Asian banks fear that the Volcker Rule would severely restrict their ability to run mutual funds.
12/10/2013
JPMorgan Nears Madoff Settlement
A deferred-prosecution agreement between the bank and the U.S. Attorney's Office in Manhattan could come within the next few weeks or early next year,
12/09/2013
Banks Brace Ahead of Vote on Volcker Rule
Regulators from five different agencies have come to agreement on the terms of the Volcker Rule, and they will each formally vote to adopt the once-thought-to-be-dead rule by Dec. 10.