Financial Regulatory Forum

ANALYSIS-US ‘dark pools’ marketplace may face pruning

   By Jonathan Spicer
   NEW YORK, Feb 24 (Reuters) – The surprising growth of U.S. stock trading venues is set for a pruning as regulators prepare to tighten controls on so-called dark pools and as brokers, still pinching pennies, look to narrow where they send orders. (more…)

U.S. SEC delays plan to adopt IFRS

   By Rachelle Younglai
   WASHINGTON, Feb 24 (Reuters) – U.S. securities regulators on Wednesday delayed plans to allow domestic companies to use international accounting standards because it will take businesses at least four years to switch to new rules. (more…)

US’ Geithner repeats call for financial reform bill

    WASHINGTON, Feb 24 (Reuters) – U.S. Treasury Secretary Timothy Geithner on Wednesday repeated his call for Congress to pass financial reform legislation that curbs risk-taking by big financial firms and ensures they can absorb their own losses. (more…)

W.House recommits to ‘Volcker rule’ bank trade ban

   By Kevin Drawbaugh
   WASHINGTON, Feb 23 (Reuters) – The Obama administration said on Tuesday it is still committed to the “Volcker rule” to ban risky trading by banks, although Congress looks increasingly unlikely to adopt the rule as proposed. (more…)

Financial watchdog’s power crucial — Obama aide

   By Kevin Drawbaugh and Caren Bohan
   WASHINGTON, Feb 22 (Reuters) – An Obama administration spokesman on Monday stressed the importance of “independent authority” for a proposed U.S. financial consumer watchdog and said where it was “housed” was another issue. (more…)

State Street says U.S. requested info on funds

   By Svea Herbst-Bayliss
   BOSTON, Feb 22 (Reuters) – State Street Corp <STT.N> reported on Monday that federal securities regulators and federal prosecutors had asked it to supply information about several of its funds. (more…)

US Treasury says consumer watchdog benefits banks

    WASHINGTON, Feb 23 (Reuters) – Setting up a separate U.S. consumer financial watchdog will not only improve regulation of banks but also be more efficient for taxpayers, a senior U.S. Treasury Department official said. (more…)

US’ Geithner pushes for independent consumer agency

WASHINGTON, Feb 22 (Reuters) – The Obama administration is still fighting for a single, independent consumer financial protection agency, U.S. Treasury Secretary Timothy Geithner said on Monday as lawmakers haggled over a financial reform bill. (more…)

Bank of England’s King says UK, US closer than EU on regulation

It's closer across the Atlantic

It's closer across the Atlantic

 (Updates with more quotes, details from report)

LONDON, Feb 12 (Reuters) – Britain and the United States are more convinced of the need to force banks to hold more capital than some big European nations, Bank of England Governor Mervyn King told the Council for Financial Stability last month.

The minutes of the meeting between the BoE, the Treasury and the Financial Services Authority on Jan. 14, published on Friday, showed King felt the task of getting nations to agree to stricter rules for banks “should not be underestimated”.

The G20 group of developed and emerging nations has been looking at ways to strengthen regulation after the credit crisis but there have been concerns that a show of unity at the height of the crisis may fall apart as the global economy recovers.

Senators lift US financial reform talks back on track

Dodd snubs Shelby

Dodd snubs Shelby

   By Kevin Drawbaugh
   WASHINGTON, Feb 11 (Reuters) – In an unusual move that cut a senior Republican out of the loop, bipartisan U.S. Senate negotiations resumed on Thursday on financial regulation reform, a top priority of the Obama administration. (more…)