Financial Regulatory Forum

Regulators need ways to stem asset bubbles -Bank of England deputy

By Reuters Staff
August 25, 2009

Britain's Chancellor of the Exchequer Alistair Darling (R) and Deputy Governor of Bank of England Charles Bean attend a G7 finance ministers and central bank governors meeting in Rome February 14, 2009. LONDON, Aug 25 (Reuters) – The financial crisis has tipped the arguments in favour of central banks acting to stem asset-price bubbles but they will need new instruments to help them do this, Bank of England Deputy Governor Charles Bean said on Tuesday.

CFTC, SEC plan joint hearings on “harmonization”

August 20, 2009

sec2    By Christopher Doering
   WASHINGTON, Aug 20 (Reuters) – The Commodity Futures Trading Commission and the Securities and Exchange Commission will hold hearings next month to iron out opposing regulatory philosophies in order to make it easier to find violators and introduce new financial instruments, the two agencies said on Thursday.

U.S. targeting American clients of UBS for criminal tax evasion

By Reuters Staff
August 18, 2009

USA/UBS By Tom Brown
MIAMI, Aug 18 (Reuters) – The United States is building criminal cases against more than 150 American clients of Swiss bank UBS as part of a crackdown on tax evasion now made easier by a deal over access to secret account information. (more…)

SEC review of AIG probed disclosure ‘inconsistencies’

August 18, 2009

MARKETS-JAPAN-STOCKS    NEW YORK, Aug 17 (Reuters) – The adequacy of AIG’s disclosure on derivatives that drove it to the edge of collapse was questioned by regulators months before the insurer’s federal bailout last September, according to newly released correspondence.

Option exchanges in SEC flash order review

August 13, 2009

sec1    WASHINGTON DC, Aug 12 (Reuters) – The U.S. Securities and Exchange Commission is including options exchanges in its review of controversial flash orders, which give traders an advance look at trading orders, the regulator said on Wednesday.

US judge will not sign off on BofA, SEC bonus pact

August 11, 2009

   NEW YORK, Aug 10 (Reuters) – A federal judge refused to approve a proposed settlement between the U.S. Securities and Exchange Commission and Bank of America Corp <BAC.N> over the payment of bonuses to Merrill Lynch & Co employees, saying he was unable to determine if it was fair to the public.

“Flash” trading controversy in U.S. raises issue of front-running

By Reuters Staff
August 7, 2009

NYSE-Euronext Executive Vice President Larry Liebowitz (l) (File photo) By Jonathan Spicer
NEW YORK, Aug 7 (Reuters) – With so-called “flash” orders exploding into public view, investors are wondering if the rapid-fire dissemination of their investing intentions is costing them money.

New Shanghai IPOs defy speculation restraints

By Reuters Staff
July 30, 2009

By Lu Jianxin and Edmund Klamann
SHANGHAI, July 30 (Reuters) – Two eye-popping debuts on the Shanghai Stock Exchange this week, its first listings in nearly a year, defied recent reforms to curb speculation and suggest China could struggle to keep asset price bubbles under control.

ANALYSIS-Enforcement key to curbing naked short selling

By Reuters Staff
July 30, 2009

By Leah Schnurr
NEW YORK, July 29 (Reuters) – Efforts by U.S. securities regulators to clamp down on an abusive type of short selling could help prevent manipulation in the market, but the rules amount to nothing without better enforcement.

NASDAQ backs ban on “flash” orders – U.S. Senate critic Schumer

By Reuters Staff
July 28, 2009

Nasdaq backs ban on ‘flash’ trading -Schumer
By Rachelle Younglai and Jonathan Spicer
WASHINGTON/NEW YORK, July 28 (Reuters) – The Nasdaq Stock Market supports a ban on so-called “flashes,” order types that it and other stock-trading venues send to a select group of traders fractions of a second before revealing them publicly, Senator Charles Schumer said on Tuesday.