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Dec 15, 2014

MF Global Holdings nears settlement with CFTC

WASHINGTON (Reuters) – MF Global has agreed with the Commodity Futures Trading Commission to settle charges of wrongdoing during the collapse of the futures brokerage, which left a $1.6 billion shortfall in customer accounts, a court document showed

But Jon Corzine, the former New Jersey governor and U.S. senator, could still object to the agreement, the document showed, and so could the other individual defendant, MF Global’s former Assistant Treasurer Edith O’Brien.

Dec 5, 2014

US Congress aims to fix insurance capital rules next week -source

WASHINGTON, Dec 5 (Reuters) – U.S. Senate and House of
Representatives lawmakers look set to tweak a law next week to
provide relief for large insurance firms from tight capital
rules designed for banks, a source familiar with the
negotiations said on Friday.

The fix of the so-called Collins Amendment to the 2010
Dodd-Frank Wall Street reform law would allow the Federal
Reserve to tailor stricter capital buffers so that they better
suit insurance firms’ business structures.

Dec 4, 2014

U.S. swaps regulator wants tighter clearing house rules

WASHINGTON, Dec 4 (Reuters) – Regulators should consider
tighter rules for clearing houses given their crucial role as
guardians against market routs after the 2007-2009 credit
crisis, a senior U.S. swaps regulator said on Thursday.

The Commodity Futures Trading Commission should take a first
step towards subjecting clearing houses to more standardized
regular checks of their financial health, known as stress tests,
CFTC Commissioner Mark Wetjen said.

Dec 2, 2014

Tight new rules may boost shadow banks, U.S. risk watchdog warns

WASHINGTON (Reuters) – Tough new rules to make banks safer after the credit crisis are imperfect and could boost less-regulated activities in the so-called shadow banking system, a top U.S. government research group said on Tuesday.

The Federal Reserve’s annual check of the financial health of the banking system, known as stress tests, for example, fell short on several counts, the Office of Financial Research said in its annual report to Congress.

Nov 25, 2014

U.S. Fed plans enhanced capital standards for GE unit

WASHINGTON (Reuters) – The U.S. Federal Reserve on Tuesday proposed to impose tougher capital standards on General Electric’s finance unit, one of a handful of non-bank firms deemed critically important to the health of the financial system.

The proposed standards would be generally similar to those that apply to large banks, the Fed said. The proposal was open for public comment for a period of 60 days.

Nov 18, 2014

Exclusive – Europe eyes longer respite for U.S. swaps clearers: source

WASHINGTON (Reuters) – The European Union will soon push back a deadline by which U.S. clearing houses need to comply with its rules, a source familiar with the matter said, taking the sting out of a dispute with America over how to regulate swaps.

The deadline will be postponed until June 15, 2015, from Dec. 15, said the source, asking not to be named. Reuters first reported in September that Brussels was considering a delay, but such a move was not a foregone conclusion. [ID:nL1N0R42YL]

Nov 18, 2014

Europe eyes longer respite for U.S. swaps clearers – source

WASHINGTON, Nov 18 (Reuters) – The European Union will soon
push back a deadline by which U.S. clearing houses need to
comply with its rules, a source familiar with the matter said,
taking the sting out of a dispute with America over how to
regulate swaps.

The deadline will be postponed until June 15, 2015, from
Dec. 15, said the source, asking not to be named. Reuters first
reported in September that Brussels was considering a delay, but
such a move was not a foregone conclusion.

Nov 17, 2014

Senate panel to grill Fed’s Tarullo, bankers over commodities

WASHINGTON (Reuters) – A heavyweight list of bankers and regulators will appear before a U.S. Senate committee this week in a probe into Wall Street’s role in commodity markets and ahead of possible tougher rules from the Federal Reserve.

Markets will weigh every word from Federal Reserve Governor Daniel Tarullo, in charge of financial regulation at the central bank, which in January said it would come out with rules to rein in banks’ activities in the market.

Nov 11, 2014

UK, U.S., Swiss close in on forex settlement with top banks

LONDON/WASHINGTON (Reuters) – British and U.S. regulators are poised to levy hefty fines on leading banks in a landmark settlement after a year-long global investigation of allegations of collusion and manipulation in the foreign exchange market.

At least one of the six banks set to be named early on Wednesday by Britain’s Financial Conduct Authority (FCA) was still in 11th-hour negotiations over details of the deal, two sources close to the matter said.

Nov 6, 2014

U.S. regulators to join UK in forex fines for banks

WASHINGTON/LONDON, Nov 6 (Reuters) – U.S. regulators plan to
join their UK peers in a multi-billion-dollar settlement with a
group of the biggest global banks accused of manipulating the
foreign exchange market, sources familiar with the matter said,
adding the deal could come as early as next week.

The U.S. Commodity Futures Trading Commission, which
oversees futures and swaps trading, aims to announce its
settlement around the same time as London’s Financial Conduct
Authority, said one of the sources, who was not authorized to
speak publicly.

    • About Douwe

      "I head up the Financial Services team in London. We're 20 journalists, covering M&A, IPOs, restructuring, banking, real estate, investment management, hedge funds and private equity. I've worked for Reuters in Zurich, Frankfurt and Amsterdam."
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