Financial Regulatory Forum

ANALYSIS-New US circuit breakers trip, stumble on problems

By Reuters Staff
July 2, 2010

By Jonathan Spicer

NEW YORK, July 2 (Reuters) – Abrupt halts in the trading of both Citigroup Inc and Washington Post Co shares over the last few weeks exposed some problems with new rules meant to avoid a repeat of the May “flash crash,” and may give traction to an alternative fix.

from The Great Debate:

Taxing spoils of the financial sector

April 22, 2010

If you want less of something, tax it.

That truism is often used as an argument against a tax on profits, or health benefits, or employment, but in the case of the rents extracted from the economy by the financial services industry here's hoping it proves more of a promise than a threat.

Citigroup settles dispute with New York state, extends “free” checking

By Reuters Staff
February 1, 2010

By Jonathan Stempel

NEW YORK, Feb 1 (Reuters) – Citigroup IncĀ  has shelved plans to impose new fees on more than a million customers nationwide who took out “free checking” accounts with its Citibank unit, New York Attorney General Andrew Cuomo said.

U.S. watchdog probes firms’ trading tips – sources

By Reuters Staff
December 18, 2009

NEW YORK/WASHINGTON, Dec 18 (Reuters) – The U.S. brokerage watchdog is probing how Wall Street firms, including JP Morgan Chase and Citigroup Inc, offer stock research, two people familiar with the probe said on Friday.

U.S. delays its $5 billion Citi sale after weak pricing

December 17, 2009

By Dan Wilchins and David Lawder

NEW YORK/WASHINGTON, Dec 16 (Reuters) – The U.S. Treasury delayed a plan to sell its $5 billion of Citigroup Inc shares after a stock offering by the bank attracted weak demand and priced at a much lower-than-expected $3.15 a share.

Citi to raise $20 billion in capital to repay U.S.

By Reuters Staff
December 14, 2009

By Dan Wilchins

NEW YORK, Dec 14 (Reuters) – Citigroup laid out a plan to repay the money it owes the U.S. government, including issuing about $20 billion of capital, as the bank looks to end the executive pay restrictions that came with the funds.

US pay czar caps more salaries at bailed out firms

December 11, 2009

By Karey Wutkowski and Steve Eder

WASHINGTON/NEW YORK, Dec 11 (Reuters) – The U.S. pay czar on Friday expanded a crackdown on pay packages at four companies rescued with taxpayer money, limiting most cash salaries at $500,000 for a second tier of top earners.

Citi could sell $20 billion of shares soon to repay TARP – CNBC

By Reuters Staff
December 9, 2009

NEW YORK, Dec 9 (Reuters) – Citigroup Inc plans to pay back TARP by raising money in an equity offering that could be announced as early as Thursday and could be some $20 billion, television network CNBC reported, citing sources.

U.S. pay czar may issue rulings before Oct. 30 deadline

By Reuters Staff
October 21, 2009

By Karey Wutkowski
WASHINGTON, Oct 20 (Reuters) – The Obama administration’s pay czar said on Tuesday he may publicly release his rulings on the compensation packages for top earners at bailed-out firms before his Oct. 30 deadline.

U.S. rebuffing big banks’ push to exit bailout early

By Reuters Staff
September 15, 2009

By Karey Wutkowski and Steve Eder
WASHINGTON/NEW YORK, Sept 15 (Reuters) – Some of the largest U.S. banks will remain in the government’s financial bailout program for months, as officials do not expect to grant the next wave of exit approvals until near the end of the year, according to a source familiar with the matter. (more…)