Financial Regulatory Forum

Obama administration seeks more SEC investor protection

July 13, 2009

   By David Lawder
   WASHINGTON, July 10 (Reuters) – The Obama administration  wants to give the U.S. Securities and Exchange Commission broad powers to identify and ban compensation practices at investment brokers and advisers that interfere with their fiduciary duties to clients.
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US Senate panel wants details on use of TARP money

July 10, 2009

    WASHINGTON, July 9 (Reuters) – A U.S. Senate panel on Thursday approved a $46.4 billion bill to fund the Treasury Department and pressed the agency to obtain more details about how recipients of the government’s $700 billion financial bailout are using the funds.
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US Treasury sold warrants below market value-panel

July 10, 2009

   By David Lawder
   WASHINGTON, July 10 (Reuters) – The U.S. Treasury Department allowed 11 smaller banks to repurchase stock warrants at only 66 percent of their market value, passing up about $10 million of taxpayer profits from government bailouts, a U.S. watchdog panel said on Friday.
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U.S. companies lobby Congress on derivatives-WSJ

July 10, 2009

    July 10 (Reuters) – At least 42 nonfinancial companies and trade associations are lobbying the U.S. Congress to push back on proposals that regulate the over-the-counter derivatives market, the Wall Street Journal said on Friday.
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US SEC, CFTC to police OTC derivatives -document

July 10, 2009

US Treasury Secretary Timothy Geithner    By Rachelle Younglai
   WASHINGTON, July 10 (Reuters) – U.S. Treasury Secretary Timothy Geithner is set to propose on Friday giving securities and futures regulators authority to police the over-the-counter derivatives market, according to a document obtained by Reuters.
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Fed’s Kohn’s systemic risk testimony to House panel

July 9, 2009

Vice Chairman of the Board of Governors of the Federal Reserve System Donald Kohn     WASHINGTON, July 9 (Reuters) – Following is the full text of Federal
Reserve Vice Chairman Donald Kohn’s testimony delivered on Thursday before a
House Financial Services subscommittee hearing on systemic risk regulation: 
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US banks must mind commercial real estate book-Fed

July 9, 2009

   By Patrick Rucker
   WASHINGTON, July 9 (Reuters) – Many U.S. banks need to check their commercial real estate holdings more carefully and ensure that a continued decline in the property market does not threaten the lender, a Federal Reserve bank examiner said on Thursday.
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Rep. Frank introduces U.S. consumer agency bill

July 9, 2009

U.S. Representative Barney Frank (D-MA), Chairman of the House Financial Services Committee   By Karey Wutkowski
   WASHINGTON, July 8 (Reuters) – The powerful chairman of the U.S. House of Representatives Financial Services Committee on Wednesday introduced legislation to create a new consumer financial protection agency that would strip some powers away from current regulators.
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CIT urges FDIC on issue of guaranteed debt – FT

July 9, 2009

    July 9 (Reuters) – CIT Group Inc, a commercial U.S. lender struggling to finance its business, is pressing U.S. regulators to allow it to issue government-backed bonds to allay concerns over its financial health, the Financial Times reported on its website late on Wednesday.
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US House panel seeks plans for future of TARP

July 8, 2009

    WASHINGTON, July 7 (Reuters) – The U.S. Treasury would have to inform Congress by Dec. 1 on whether it expects to lend more from the $700 billion financial rescue plan under legislation approved late on Tuesday by a House of Representatives panel.
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