Financial Regulation >>>
A change to U.S. Senate rules to allow a simple majority to confirm most presidential nominees may help speed up the pace of Dodd-Frank rulemaking. To continue reading, click here.
Westpac Banking Corp. agreed to buy Lloyds Banking Group Plc’s Australian assets as tighter capital rules following the 2008 financial crisis prompt European and U.S. lenders to retreat from the Asia-Pacific region. To continue reading, click here.
The U.S. Commodity Futures Trading Commission next month plans to complete rules to boost protection of customer funds and release a new proposal for limits on speculation in oil, natural gas and other markets, according to two people familiar with the matter. To continue reading, click here.
The U.S. Securities and Exchange Commission, in settling claims with JPMorgan Chase & Co. over its handling of a $6.2 billion trading loss, landed its biggest victory yet in fulfilling a pledge to force wrongdoers to admit guilt. To read more, click here.
Derivatives would face new transaction fees to pay for the U.S. Commodity Futures Trading Commission budget under a proposal President Barack Obama’s administration submitted to Congress. To read more, click here.
Regulators must restrict lenders’ ability to escape tougher capital rules by changing how they measure risk, Financial Stability Board Chairman Mark Carney said, as he urged nations to finish an overhaul of bank rules. To read more, click here.
The European Parliament will next month reconvene and resume its “trialogue” on the EU Markets in Financial Instruments Directive (MiFID) with the European Council and the European Commission. Significant differences between the versions agreed by the bodies must be reconciled before the new regime is implemented. Uniform rules may not go into effect until 2015 or 2016. To read [...]
The U.S. Department of Justice and the Federal Deposit Insurance Corp. are pressuring banks to cut ties to online lenders whom regulators suspect of shady business practices, as part of a broad crackdown on frauds in the payment system, according to five people briefed on their work. To read more, click here.
Last week’s Dodd-Frank three-year outlook webinar, featuring Bloomberg Government’s Cady North, reviewed the status of the rulemakings so far and found that financial regulators are about 60 percent of the way through the major actions, according to North. Click here to continue reading.