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REGULATORY/LEGAL

FINRA charges Wedbush with market access violations
By Reuters
08/18/2014 1:41:22 PM ET

WASHINGTON (Reuters)—Wall Street's self-funded regulator on Monday [Aug. 18] charged brokerage firm Wedbush Securities with having shoddy risk controls, a flaw that in turn allowed thousands of traders to flood U.
SEC reviewing Valeant, Ackman's hostile Allergan bid
By Reuters
08/14/2014 5:08:56 PM ET

WASHINGTON (Reuters)—U.S. securities regulators are looking at the hostile takeover bid made by billionaire investor William Ackman and Valeant Pharmaceuticals for Botox maker Allergan Inc.
SEC to examine alternative mutual funds: report
By Reuters
08/12/2014 7:00:19 PM ET

WASHINGTON (Reuters)—The Securities and Exchange Commission has launched a broad examination of alternative mutual funds, The Wall Street Journal reported, citing people familiar with the matter. The so-called funds "sweep" includes examinations of large investment firms such as BlackRock Inc.
U.S. SEC fines J.S. Oliver Capital $15 million, bans two advisers
By Reuters
08/08/2014 12:59:39 PM ET

SAN DIEGO (Reuters)—A Securities and Exchange Commission judge has ordered a San Diego-based investment firm to pay a $15 million penalty and barred its two advisers from the securities industry for a scheme that defrauded clients out of $10.9 million.
Citadel fined $800,000 by U.S. regulators for trading violations
By Reuters
08/06/2014 11:33:10 AM ET

NEW YORK (Reuters)—A unit of hedge fund Citadel LLC was fined $800,000 by U.S. regulators in June for failing to prevent erroneous orders from being sent to several stock exchanges over a nearly three-year period.
BATS close to settling high-speed trading case in U.S.: report
By Reuters
08/06/2014 11:58:58 AM ET

LENEXA, Kan. (Reuters)—BATS Global Markets Inc., the second-largest U.S. exchange operator by volume, is in advanced talks with regulators to settle allegations that it gave unfair advantages to high-speed traders, The Wall Street Journal reported, citing people familiar with the matter.
New U.S. CFTC head says he will be tough cop, tweak rules
By Reuters
07/31/2014 3:29:16 PM ET

WASHINGTON (Reuters)—The new head of the U.S. derivatives regulator on Thursday [July 31] pledged he would be a tough cop now that the agency has largely finished a raft of new rules to oversee the $710 trillion global swaps market.
UK fraud squad considers criminal probe into rate rigging at Lloyds
By Reuters
07/30/2014 12:47:47 PM ET

LONDON (Reuters)—Britain's Serious Fraud Office (SFO) is examining material that might trigger a criminal investigation into former and current staff at Lloyds Banking Group, the partly state-owned bank, sources said on Wednesday [July 30]. The sources said the SFO was looking at information it had been handed by the UK Financial Conduct Authority (FCA) some months ago linked to an inquiry into alleged manipulation of benchmark rates, including one used to set the fees on a taxpayer-backed funding scheme for banks.
U.S. derivatives regulator faces test in big courtroom showdowns
By Reuters
07/28/2014 1:02:28 PM ET

WASHINGTON (Reuters)—The U.S. federal agency regulating derivatives has fought just three trials since 2011, all against small-time fraudsters in Florida.
U.S. SEC to review accredited investor rule
By Reuters
07/25/2014 3:56:39 PM ET

WASHINGTON (Reuters)—A U.S. Securities and Exchange Commission review of its "accredited investor" rule could ultimately make it tougher for brokers to sell privately traded securities, a high-risk, high-reward, high-commission staple at some small and independent firms.
U.S. SEC targets 10 firms in high frequency trading probe: SEC document
By Reuters
07/17/2014 6:38:27 PM ET

NEW YORK (Reuters)—The U.S. Securities and Exchange Commission has been seeking information on 10 registered broker dealers as part of an ongoing investigation into high-frequency trading strategies, according to an internal SEC document reviewed by Reuters.
U.S. House passes spending bill with Dodd-Frank changes
By Reuters
07/17/2014 4:08:31 PM ET

WASHINGTON (Reuters)—The Republican-led U.S. House of Representatives on Wednesday [July 16] passed a bill to slash funding for Wall Street oversight and revamp new agencies dedicated to cracking down on fraud against consumers and policing risks after the financial crisis.
U.S. SEC official vows to defend agency from Fed encroachment
By Reuters
07/15/2014 5:28:38 PM ET

WASHINGTON (Reuters)—A member of the U.S. Securities and Exchange Commission is vowing to defend the regulator's turf against what he said is growing encroachment by the Federal Reserve and a council of financial regulators on everything from asset manager regulation to high-speed trading.
Global financial watchdog calls for FX fix reforms, urges banks to clean up
By Reuters
07/15/2014 12:44:18 PM ET

LONDON (Reuters)—The world's top financial regulator on Tuesday [July 15] urged deep-rooted change to how currency benchmarks are set, encouraging market players to tighten up their governance, practices and controls rather than imposing stringent new regulation. The proposals come in response to allegations being investigated by regulators that dealers at major banks colluded and manipulated key reference rates in the $5.
Why U.S. election season donations can trip up advisers
By Reuters
07/10/2014 12:00:23 PM ET

NEW YORK (Reuters)—The U.S. election season is under way, which means opportunities are mounting for public retirement plan advisers to do the wrong thing.
Wall Street watchdog launches exams into order routing practices
By Reuters
07/09/2014 12:47:28 PM ET

NEW YORK (Reuters)—Wall Street's self-regulator said on Tuesday [July 8] it is conducting examinations of 10 firms to ensure they are in compliance with regulations requiring that investors receive the best execution for their stock orders. The Financial Industry Regulatory Authority did not disclose which 10 firms were sent letters demanding records and other documents on their execution and order-routing practices.
U.S. SEC review of alternative mutual funds is imminent
By Reuters
07/09/2014 11:05:00 AM ET

WASHINGTON (Reuters)—A surge of investment in alternative mutual funds has caught the attention of the U.S. Securities and Exchange Commission, which will launch examinations of fund companies targeting funds' leverage, liquidity and other concerns, according to an official.
U.S. SEC issues guidance for proxy firms, investment advisers
By Reuters
07/01/2014 2:33:40 PM ET

WASHINGTON (Reuters)—Asset managers who use proxy advisory firms to help them make corporate voting decisions on behalf of investors should be routinely reviewing their policies to ensure they are acting in their clients' best interest, U.S.
U.S. SEC beefs up administrative court to meet rising demand
By Reuters
06/30/2014 3:57:00 PM ET

WASHINGTON (Reuters)—The U.S. Securities and Exchange Commission is hiring two new administrative law judges and three law clerks as its lawyers turn increasingly to the agency's administrative court as a preferred venue over federal court for filing enforcement actions.
EU throws down gauntlet to U.S. over derivatives
By Reuters
06/27/2014 3:21:42 PM ET

LONDON (Reuters)—The European Union said it will help build a seamless global market in financial derivatives by accepting rules used in five countries, adding the United States would get the green light too if it showed flexibility. After the 2007-09 financial crisis in which derivatives like credit default swaps played a key part in creating uncertainty, countries across the world have introduced rules to make the market more transparent and safer.






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