Financial Regulatory Forum

U.S. lobbying rules for bailout firms seen soon

USA/   WASHINGTON, Sept 4 (Reuters) – The U.S. Treasury Department is expected to soon issue final lobbying restrictions for companies receiving taxpayer funds from the government’s $700 billion bailout program, two sources familiar with Treasury’s thinking told Reuters on Friday. (more…)

Europe split over U.S. bank capital plans

BRITAIN/   By Anna Willard and Huw Jones
   LONDON, Sept 4 (Reuters) – Continental European officials defended the globally-agreed Basel II capital rules for banks on Friday despite a U.S. call for its effective replacement with a tougher new regime within three years. (more…)

Madoff case may bring new whistleblower bounties

   BOSTON, Sept 3 (Reuters) – U.S. government rewards for whistleblowers: $102 million for exposing Pfizer Inc’s improper drug marketing tactics, zero for warning about Bernard Madoff’s global scam.
   The gaping discrepancy arises from federal rules on paying whistleblowers in different industries, and top securities regulators think it’s time for a change. (more…)

US Treasury proposes int’l capital accord for banks

   WASHINGTON, Sept 3 (Reuters) – The U.S. Treasury Department on Thursday proposed tough international standards on capital and liquidity at banks, saying new rules are needed to reduce the risk of another global financial crisis.

Congress to probe SEC’s lapse on Madoff

MADOFF/    WASHINGTON, Sept 3 (Reuters) – An investigative panel in the U.S. Congress will hold hearings on the failure of the U.S. Securities and Exchange Commission to follow clues that could have uncovered Bernard Madoff’s $65 billion Ponzi scheme.

U.S. Treasury eyeing more help for homeowners

USA/    By Carey Gillam
   OVERLAND PARK, Kan., Sept 3 (Reuters) – Obama administration officials are wary of rising home foreclosures and are exploring options to increase help to beleaguered homeowners, though they were not immediately supportive of an industry proposal for overhauling Fannie Mae and Freddie Mac,  the U.S. Treasury’s leading housing official said on Thursday.

US SEC, CFTC told to align rules to police markets

sec1   By Christopher Doering and Rachelle Younglai
   WASHINGTON, Sept 3 (Reuters) – The two main U.S. regulators policing the securities and futures markets were urged on Thursday to align their rules for ferreting out fraud, protecting investors and punishing wrongdoers.

U.S. turns up heat on Basel bank reform

   LONDON, Sept 3 (Reuters) – U.S. pressure to toughen up how banks set aside capital suggests reform of Basel II rules on capital adequacy could be drawn out for years, leaving banks in the lurch.

Citing Madoff miss, US Sen Schumer eyes SEC reform

USA-NAACP/   WASHINGTON, Sept 3 (Reuters) – Legislation to overhaul the U.S. Securities and Exchange Commission and prevent another Madoff-style fraud from escaping notice will be offered by U.S. Senator Charles Schumer, he said in a statement on Thursday.

Exchanges differ on SEC-CFTC rule alignment

cftc   By Christopher Doering and Rachelle Younglai
   WASHINGTON, Sept 2 (Reuters) – Major exchanges differ on how far U.S. securities and futures regulators should align their rules, with CME Group <CME.O> – the largest derivatives exchange operator – arguing against a one-size-fits-all rule.