United States/Americas
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High-Speed Trading a Stiff Challenge For U.S. Regulators
By Reuters
05/20/2013 10:52:56 AM ET
CHICAGO (Reuters)—Financial trading in world markets has grown so lightning-fast that effective regulation is growing tougher by the second, increasing the threat of crashes sparked by hoaxes, electronic glitches or yet-unknown causes.
The latest alarm was triggered by a fake tweet saying that the White House was bombed, prompting a U.
Big Banks Gain as U.S. Adopts Weakened Swap Rules
By Reuters
05/17/2013 10:52:41 AM ET
WASHINGTON (Reuters)—Big banks won key concessions in the battle over who dominates the $630 trillion derivatives markets as the top U.S. regulator adopted watered-down rules to bring swaps onto exchange-like trading platforms.
Accounting Boards Plan to Keep Leases on Balance Sheets
By Reuters
05/16/2013 12:10:06 PM ET
LONDON/NEW YORK (Reuters)—Company balance sheets could swell by trillions of dollars under an international plan issued on Thursday [May 16] by two accounting bodies to show more clearly the cost of leasing everything from photocopiers to property.
If the revised draft from the International Accounting Standards Board and the U.
U.S. CFTC to Vote on Watered-Down Swap Rules
By Reuters
05/16/2013 10:39:59 AM ET
WASHINGTON (Reuters)—Big banks are set to gain key concessions as the top U.S. derivatives regulator meets to vote on watered-down rules for swap trading that will chip away at Wall Street's dominance of the $630 trillion market.
Regulators Set September Deadline For Derivatives Deal
By Reuters
05/15/2013 12:39:26 PM ET
LONDON (Reuters)—Financial regulators have given themselves until September to try to resolve differences over how to supervise derivatives markets in the wake of the financial crisis, a U.S.
Regulator: Mexico Must Tread Carefully on New Swaps Rules
By Reuters
05/15/2013 12:20:36 PM ET
MEXICO CITY (Reuters)—Mexico is planning to launch derivatives rules this year in sync with its northern neighbor, but is concerned an overly tough regime could push trades into the United States where they are subject to less oversight, Mexico's chief bank regulator said.
U.
Warren: Show Me the Economic Analysis on Settlements vs. Trials
By Reuters
05/14/2013 3:43:18 PM ET
WASHINGTON (Reuters)—A U.S. senator who has criticized Wall Street is asking federal regulators and law enforcement officials whether they have the economic analysis to back up their routine practice of letting big banks settle cases without admitting guilt instead of taking them to trial.
CFTC Probes Commodity Swaps Trades: Report
By Reuters
05/14/2013 12:18:34 PM ET
WASHINGTON (Reuters)—The top U.S. derivatives regulator is probing the legality of a large number of trades in energy and metals markets, asking the largest banks for data going back to 2010, the Financial Times reported on Monday [May 13].
U.S. CFTC to Meet Next Week on Trading Rules
By Reuters
05/10/2013 10:45:56 AM ET
WASHINGTON (Reuters)—The top U.S. derivatives regulator will discuss next week keenly awaited rules for swaps trading that have the potential to weaken Wall Street's dominant position in the $650 trillion market.
U.S. SEC Chief Defends, But Will Review 'Neither Admit Nor Deny'
By Reuters
05/08/2013 10:58:51 AM ET
WASHINGTON (Reuters)—The new head of the U.S. Securities and Exchange Commission defended on Tuesday [May 7] the agency's policy of letting firms settle civil charges without admitting or denying them, but also pledged to review the practice.
U.S. SEC Proposes Rules For Cross-Border Swap Trades
By Reuters
05/01/2013 5:08:41 PM ET
EDITOR'S NOTE: This story has been updated throughout.
WASHINGTON (Reuters)—The top U.S. securities regulator unveiled a proposal on Wednesday [May 1] that spells out how its rules for swaps will apply to foreign banks, saying it hoped its proposal can resolve a brewing global conflict over how to regulate the $640 trillion market.
Commodity Traders Could Face Regulation For Role as Lenders
By Reuters
05/01/2013 11:54:05 AM ET
GENEVA (Reuters)—The world's little-regulated and often secretive commodity trading houses could face new disclosure rules, and even capital requirements, because of their money lending activities, after a global regulatory watchdog's review of "shadow banking."
The Financial Stability Board — a task force set up by the G20 group of major economies to improve global financial regulation in the wake of the 2008 crisis — has asked national and regional regulators to determine whether commodity traders should come under the scope of new rules.
Levin Urges Tough Cross-Border Bank Rules For Swaps Trading
By Reuters
04/24/2013 3:40:09 PM ET
WASHINGTON (Reuters)—A top U.S. lawmaker urged regulators to tighten the rules for swaps trading at foreign offices of U.S. banks, stepping into a simmering global conflict over how to supervise the $650 trillion derivatives market.
PCAOB Offers Carrot to Cooperators
By Reuters
04/24/2013 3:10:45 PM ET
WASHINGTON (Reuters)—Auditors and audit firms that offer "extraordinary" cooperation to their primary U.S. regulator will be in line for special accommodations under a policy announced on Wednesday [April 24].
E.U. Regulators to Examine ICE, NYSE Euronext Merger
By Reuters
04/24/2013 11:27:38 AM ET
BRUSSELS, Belgium (Reuters)—E.U. antitrust regulators will examine IntercontinentalExchange Inc.'s $8.2 billion takeover of NYSE Euronext in line with a request from the exchange operators themselves, a spokesman for the European Commission said on Wednesday [April 24].
U.S. Lawmakers Want SEC to Pay For Adviser Exams With Fees
By Reuters
04/19/2013 2:40:28 PM ET
WASHINGTON (Reuters)—The top Democrat on the U.S. House Financial Services Committee has introduced a bill that would give federal securities regulators the power to impose fees on investment advisers to help the agency expand and improve its examinations.
GOP Lawmaker Faults SEC For Not Lifting Advertising Ban
By Reuters
04/17/2013 5:29:32 PM ET
WASHINGTON (Reuters)—A Republican in the U.S. House of Representatives questioned on Wednesday [April 17] whether federal securities regulators still have the legal authority to enforce a longtime ban on general advertising for private placements that was to have been lifted last summer.
U.S., Asian Fund Managers at Risk From E.U. Bonus Cap
By Reuters
04/12/2013 12:22:50 PM ET
DUBLIN, Ireland (Reuters)—Portfolio managers in the United States and Asia could pull out of key European funds if Brussels goes ahead with proposals to cap bonuses, a senior industry figure said.
The European Parliament already curbed banker bonuses at the level of salary to address public anger at a pay culture politicians say prompted reckless risk-taking and ultimately triggered the financial crisis.
Proposed U.S. Rule Would Have Forced KPMG to Name Auditor Sooner
By Reuters
04/10/2013 10:55:12 AM ET
WASHINGTON (Reuters)—When audit firm KPMG said late on Monday [April 8] it had parted ways with two corporate audit clients and a senior partner over information leaks used in alleged insider trading, the partner's identity was initially a mystery.
The name of Scott London, a KPMG veteran, emerged late on Tuesday [April 9], but would likely have been known sooner if the panel that regulates the U.
U.S. CFTC Gives More Time on Swaps Used to Hedge
By Reuters
04/10/2013 10:48:21 AM ET
WASHINGTON (Reuters)—The top U.S. derivatives regulator granted manufacturers and other firms more time to start reporting swaps they do not use for speculative purposes, the latest in a raft of last-minute exemptions to new rules to make the swaps market less risky.
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