Financial Regulatory Forum

ANALYSIS – Democrats bet politics favor US financial reforms

By Kevin Drawbaugh

WASHINGTON, Feb 18 (Reuters) – The next round of betting is near in a high-stakes game to tighten U.S. financial regulation and Democrats are wagering heavily on a hunch — that some Republicans cannot afford politically to block reform.

The view is strongly held at the White House, where officials remain confident, despite setbacks, that reforms will be approved by Congress this year, said congressional aides.

President Barack Obama and the Democrats need a boost as they head into November’s midterm congressional elections after disappointing outcomes on healthcare and climate change,

Financial regulation reform — an issue that has been working its way slowly through Congress — could provide that, said some policy analysts, especially with Wall Street’s recent success at making itself more unpopular every day among voters angry over massive bailouts and resurgent bonuses.

By the time a financial regulation bill moves to the Senate floor for a final vote, possibly in April, Democrats will be able to paint Republicans who oppose it as tools of the banks who have been trying for months to squash reforms.

Facebook challenges financial regulators -FINRA

Mark Zuckerberg, founder and CEO of Facebook, delivers a keynote address at the company's annual conference in San Francisco, California July 23, 2008. Zuckerberg, 24, told an audience of 1,000 industry executives, software makers, media, and his mother and father at the conference here of plans to let Facebook features run on affiliated sites off the social network. REUTERS/Kimberly White (UNITED STATES) NEW YORK, Oct 27 (Reuters) – Social networking sites like Facebook and LinkedIn raise “serious new challenges” for financial regulators, the head of the largest U.S. independent securities regulator said on Tuesday.

(more…)

Obama warns Wall Street to get behind reforms

By Caren BohanOnlookers gather outside the historic Federal Hall where U.S. President Barack Obama is speaking in the heart of Wall Street in New York September 14, 2009. Obama, marking a year since Lehman Brothers collapsed, urged financial firms Monday not to fight regulatory reform and urged Congress to pass his proposals by the end of the year.     REUTERS/Larry Downing (UNITED STATES BUSINESS POLITICS)

NEW YORK, Sept 14 (Reuters) – U.S. President Barack Obama warned financial firms on Monday to heed the lessons of Lehman Brothers’ collapse a year ago and get behind a regulatory overhaul he wants Congress to pass this year.
(more…)

Regulators eye dark corners of U.S. stock market

dark-pools-rtrbbh1_comp By Jonathan Spicer
NEW YORK, Sept 11 (Reuters) – In obscure corners of the U.S. stock market — where “flash orders,” “dark pools” and other controversial practices thrive — regulators are trying to shine a light to guard against unfair dealing.

But a crackdown by the U.S. Securities and Exchange Commission, sought in recent months by some top lawmakers in Washington, won’t come quickly and may not be as comprehensive as some desire.

(more…)

Wall St bonuses spark outrage on Main Street USA

main-street-wwwreuterscom By Steve Eder and Ed Stoddard
NEW YORK/EULESS, Texas, Sept 8 (Reuters) – All you have to do to feel the outrage over the continuing flow of bonuses on Wall Street is to take a walk down Main Street.

Reuters reporters spoke to people in half a dozen towns and cities across the country at the end of last week — and while the survey was far from scientific, it left no doubt many people are upset bankers are still pulling in big bonuses while many people struggle to make ends meet.

(more…)

  •