Financial Regulation >>>

    Wells, BofA, JPMorgan Save $500 Mln in U.S. Deal

    Wells Fargo & Co., Bank of America Corp. and JPMorgan Chase & Co. are among banks that will reap savings under last week’s deal with U.S. regulators that no longer requires independent consultants to review foreclosures. The savings will help offset the cost to settle government charges that the banks wrongfully foreclosed on struggling homeowners. Click here to continue reading.

    Industry Pressure, Regulator Concern Stall Rules

    At least six major post-crisis rules aimed at making markets safer have stalled in the past 10 weeks because of industry opposition, global disagreements and regulators’ concerns that haste may cause more harm than good, bank executives and financial analysts said. Click here to continue reading.

    JPMorgan Faces Penalty Over Madoff Documents

    The Treasury Department’s inspector general has threatened to punish JPMorgan Chase & Co. for failing to turn over documents to regulators investigating the bank’s ties to Bernard Madoff’s Ponzi scheme. Inspector General Eric Thorson gave the largest U.S. bank a Jan. 11 deadline to cooperate with the Office of the Comptroller of the Currency probe or risk sanctions [...]

    Financial Regulation 2012 Q&A Review

    To view in full screen select “View Fullscreen” option on lower right. We hope you enjoy this sample from Bloomberg’s market leading newsletter. To take a trial or to request a free PDF download of this special issue please contact us at +1 212 617 0544 or click here. Financial Regulation 2012 Q&A Review from Bloomberg [...]

    U.K. Banks May Cut Lending for BOE Capital Call

    U.K. banks, under pressure from the Bank of England to increase capital, may do exactly what the central bank doesn’t want them to do: Cut lending. While trimming or delaying dividends, selling assets, reducing pay or raising equity would also bolster capital, banks such as government-owned Royal Bank of Scotland Group Plc and Lloyds Banking Group Plc may [...]

    New Guidance on FCPA Arrives 35 Years After Its Creation

    StanChart Sees $300M Cost of U.K. Liquidity Rules

    Standard Chartered Plc expects U.K. regulations requiring it to hold capital against theoretical stress scenarios will cost $300 million in lost earnings by the end of the year, said Richard Meddings, the bank’s finance director. Click here to continue reading.

    Financial Regulation – Top News from Around The Web

    The Australian Securities and Investments Commission in a report on client money handling practices in the retail over-the counter derivatives sector found a number of compliance weaknesses, including a small number of licensees that issue OTC contracts for difference or margin foreign exchange contracts to retail clients that didn’t perform client money reconciliations on a daily basis [...]

    Brokers to Disclose Bonuses Under Finra Plan

    Brokers would have to tell customers about recruiting bonuses and other compensation arrangements they earn when moving to a new firm, under a plan the Financial Industry Regulatory Authority voted yesterday to put out for comment, according to a person familiar with the meeting. Click here to continue reading this sample article from Financial Regulation.

    Principal Financial Targets Bank Exit

    By Dana Wilkie Principal Financial Group Inc., the seller of life insurance and retirement products, is seeking to exit banking to limit U.S. oversight. The insurer filed a draft application to end its status as a savings and loan holding company to avoid Federal Reserve regulation that may limit investing and require the Des Moines, Iowa-based company to [...]

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