09/08/2014
ICI Welcomes New SEC Rules on Funds, Asset Managers
FSOC has shifted SIFI focus away from asset management firms and will assess specific products and activities
Legal, Regulation & Compliance
09/07/2014
Government wraps up kickback case against Hingham CEO and his former company
A federal court yesterday entered what's called a final judgment to resolve kickback allegations against a Hingham CEO and the company he led.
09/07/2014
Caribbean-Based Investment Advisor Sentenced for Using Offshore Accounts to Launder and Conceal Funds
District Court for the Eastern District of Virginia on March 6, and the indictment was unsealed March 12 after the defendants were arrested in Miami.
09/05/2014
Fed's Powell says alternative to Libor needed as soon as practical
Along with the large number of dollar-based contracts, Libor is used as a reference rate for another $150 trillion in contracts denominated in other currencies
09/05/2014
Barclays, BofA, Citigroup Sued for ISDAfix Manipulation
The Alaska Electrical Pension Fund sued yesterday in Manhattan federal court, claiming the banks colluded to set ISDAfix at artificial levels that allowed them to manipulate payments to investors in the derivatives.
09/05/2014
Morgan Stanley loses lawsuit to overturn $8 million arbitration ruling
The arbitration award effectively restored millions of dollars in deferred compensation that Gupta was forced to forfeit because of the termination.
09/05/2014
Former bank executive faces November sentencing
Bailey pleaded guilty last month to conspiracy.
09/04/2014
U.S. SEC Charges Houston Advisor With Not Disclosing Fund Payments
The conflict of interest, which was unknown to investors, generated about $440,000 in additional revenue for the firm, the SEC said.
09/04/2014
Regulators set rules to ward off bank crisis
The 15 largest banks — those with more than $250 billion in assets — will have to hold enough cash, government bonds and other high-quality assets to fund operations for 30 days
09/04/2014
U.S. Regulators Tighten Swaps Collateral Regulations
U.S. financial regulators eased proposed collateral requirements for swaps traded between banks, manufacturers and other firms by seeking to limit the impact on smaller companies and global liquidity.
09/04/2014
Ex-Goldman Trader Loses in Bid for $5 Million More in Bonus
Salem claimed he helped the bank earn more than $7 billion and told the arbitration panel on Feb. 25 that he was one of the most sought-after investment professionals in the mortgage industry.
09/04/2014
SEC intensifies probes of European fund managers
Questions over valuations of illiquid assets draw scrutiny as mainstream investors increasingly seek alternative investments
09/03/2014
SEC Adopts Final Regulation AB II Rules
The ABS Final Rules were adopted in part in response to the requirements of Sections 939A and 942(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act).
09/03/2014
Money laundering moving to RMB as US cracks down
Money launderers will increasingly move away from the US dollar to the renminbi as US authorities continue to crack down on international banks’ AML systems.
08/31/2014
FDIC bans Ex-Omaha President & CEO from Banking
Michael Dahir, Omaha State Bank’s former president is banned from banking now.
08/31/2014
Microsoft will not hand over overseas email, despite order
That prospect had drawn concern from technology companies - fearful of losing revenue from foreign customers worried that U.S. law enforcement might win broad power to seize their data.
08/29/2014
FBI Investigates Whether Russians Hacked JPMorgan and Other U.S. Banks
Federal authorities are investigating hacking attacks against JPMorgan Chase and several other banks, according to published reports.
08/28/2014
Barclays' Index Unit May Sell For Much More Than $400 Million Asking Price
IPRS has attracted bids from nearly every major player in the index industry, including Standard & Poor’s, MSCI, Markit, Bloomberg, Thomson Reuters and the CME Group.
08/28/2014
How The SEC's Examination Of Alternative Funds Affects BlackRock
The move by the SEC was expected considering the fact that alternative mutual funds have swelled nearly tenfold in size from just over $30 billion in 2008 to $283 billion at the end of 2013
08/28/2014
Asset-Backed Bonds Get Reprieve on Disclosure
In a shift from a 2010 proposal, the SEC declined to extend the requirements to so-called private placements, in which the bonds are sold only to certain institutional investors with at least $100 million in investments.