Financial Regulatory Forum

U.S. market regulators in bid to end turf war

September 2, 2009

sec   By Rachelle Younglai and Christopher Doering
   WASHINGTON, Sept 1 (Reuters) – The two main U.S. agencies regulating securities and futures markets will begin an unprecedented meeting on Wednesday in an attempt to resolve longstanding conflicts laid bare by the financial crisis.

Banks may bear U.S. FDIC special charges until 2013 – report

August 28, 2009

Aug 28 (Reuters) – The U.S. banking industry may have to continue to bear the burden of replenishing a top regulatory fund, used to back insured deposits when a bank fails, as Federal Deposit Insurance Corp’s (FDIC) special assessments could persist through 2013, investment bank Fox-Pitt Kelton said.

SEC chair: Derivatives data key for probes -report

August 28, 2009

USA/    Aug 28 (Reuters) – Getting better access to information on derivative transactions was a “critical” factor in U.S. regulators’ efforts to curb market abuses, Securities and Exchange Commission Chairman Mary Schapiro told Bloomberg in an interview.

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

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

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

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.