Financial Regulation

COMMENTARY: Levitt Calls JOBS Act’s Lower Eligibility Standards in Early Stages a ‘High-Stakes Bet’

December 11, 2015

The U.S. Securities and Exchange Commission last month approved crowdfunding rules to allow small investors to buy shares in startups in a similar way to which they buy shares of larger companies. Former SEC Chairman Arthur Levitt, now a director at Bloomberg LP, says he fears the results “won’t be

Whistle-Blowers Send SEC Almost 4,000 Tips From Far and Wide

November 20, 2015

BY MELISSA KARSH, BLOOMBERG BRIEF EDITOR The U.S. Securities and Exchange Commission received almost 4,000 whistle-blower tips in fiscal year 2015, which ended Sept. 30, up about 30 percent from fiscal year 2012, the first year for which the agency has annual data, according to the commission’s 2015 annual report

The Path to EU’s Financial-Market Rules

November 13, 2015

BY MELISSA KARSH AND IAN MAREADY, BLOOMBERG BRIEF European Union financial-market rules known as MiFID II could be postponed. Here’s a look at how we got here.   Interested in more content like this? Subscribe to the Financial Regulation brief or sign up for a free trial here.

Labor Department’s Fiduciary Proposal Aims to Balance Costs, Fairness, Says Levitt

October 30, 2015

U.S. Labor Secretary Thomas Perez said this month that there will be changes made to clarify and improve upon the department’s much talked about fiduciary rule for brokers handling retirement accounts. Former U.S. Securities and Exchange Commission Chairman Arthur Levitt, now a director at Bloomberg LP, says the Department of

Brace Yourself: HFTs Join Call for Transparency in Treasuries

October 16, 2015

High-frequency traders and U.S. regulators may make strange bedfellows, yet both are calling for more light to shine on trading in the $12.9 trillion Treasuries market. Since the market’s harrowing swing on Oct. 15, 2014, officials from the Federal Reserve to the Treasury Department have said the world’s fastest traders

EU Repo Market Stagnates as Regulation Crimps Trading

October 2, 2015

Europe’s market for borrowing and lending securities, including government bonds, barely grew in the 18 months through June 10 with the total value of outstanding repurchase contracts at 5.6 trillion euros ($6.3 trillion), the International Capital Market Association said in a report. The decline of the repo market in recent

House Keeps Pressure on DOL’s Fiduciary Proposal

September 25, 2015

BY SEAN FORBES, BLOOMBERG BNA Momentum in Congress against the Labor Department‘s proposed fiduciary rule continued to build as a House committee said it would consider a bill next week that could effectively kill the proposal. The Financial Services Committee Sept. 30 will mark up legislation (H.R. 1090) from Rep.

Insurers Face the Final Countdown: Solvency II Stumbles Forward

September 11, 2015

U.K. insurers and reinsurers can expect a final decision on the validity of their internal risk models from the Prudential Regulation Authority in December, leaving the companies just weeks to prepare for new capital requirements under Solvency II. The PRA will communicate its decision to each insurer simultaneously. Many U.K.

DOJ Concedes It Prosecutes Corporate Crime Wrong

September 11, 2015

BY SHEELAH KOLHATKAR, BLOOMBERG BUSINESS The most amazing thing about the Justice Department’s new guidelines on the prosecution of corporate crime is that the DOJ is effectively acknowledging there was a problem with how it did things before. In a Sept. 9 memo from Deputy Attorney General Sally Quillian Yates, the DOJ said

Fed, OCC Say BofA Can Use Own Capital Calculation

September 8, 2015

BY JEFF BATER, BLOOMBERG BNA Bank of America can use its own risk weights instead of standardized weights when calculating its capital requirements in the fourth quarter, two regulators have decided. The Federal Reserve and the Office of the Comptroller of the Currency, in a joint release, announced they approved