Tag:
Compliance
Latest Headlines
Latest Headlines
Bank of America, Fidelity back new email security standard
Bank of America and Fidelity Investments have teamed up with the likes of Google, Microsoft, PayPal and others to push for a new email security standard, called the new Domain-based Message...
Citigroup invests in own hedge funds
Bloomberg notes that Citigroup has invested $800 million of shareholders money in the firm's own hedge funds. Wasn't that supposed to be a "no-no" under the Volcker Rule?
For the most part, the answer is yes. But the law does allow some prop investment in alternative funds. Banks can own u
Examining real-time CAT reporting
When it comes to financial reporting and compliance, the Holy Grail in some ways has been a system that allows regulator to monitor trends in real-time, intelligently ferreting out abusive practices
SEC sanctions Direct Edge for faulty systems, controls
The SEC has taken Direct Edge to task for two snafus that revealed weaknesses in order processes and compliance, resulting in million of losses by trading clients. The exchange has agreed to a
Regulators issue proposal on Volcker Rule
So what should we make of the Federal Reserve's long-awaited proposed Volcker Rule, among the most controversial aspects of Dodd-Frank?
The debate in many ways is just starting, now that a proposal been put forth, one that includes more than 350 questions that regulators want comments on. The
Registration rule to affect more hedge funds
When the new SEC registration rules came out, it seemed pretty clear how funds would be affected: Funds with more than $150 million in assets would be required to register. Any fund with lesser amount would be regulated by states or not at all or have some discretion.
But there's an interestin
Credit rating agencies set to comply with 17g-7
Recall that in January, the SEC Securities and Exchange Commission adopted rules required under Dodd-Frank that included a requirement that all NRSROs include a report with every credit report that clearly lays out the representations, warranties and enforcement mechanisms available to investors a
UBS rogue trader Kweku Adoboli: Shades of Jerome Kerviel
The Kweku Adoboli story at UBS sounds all too much like the Jerome Kerviel story at Societe Generale. Both worked back office or middle office when they started at their banks, building up a massive amount of compliance and systems knowledge. Both then went to work as traders for their banks'
Bank of America assets sales get underway
Bank of America CEO Brian Moynihan in recent days has indicated that he is bent on selling more noncore assets in order to stave off either a massively dilutive capital raise or a sale of a true crown jewel, like Merrill Lynch.
In the most recent deal, Bank of America has agreed to sell the Ca
Citigroup subpoenaed by California AG
California Attorney General Kamala Harris has issued a subpoena to Citigroup, seeking answers to a wide range of questions about the bank's mortgage practices, according to the Los Angeles Times . This follows the creation of a state Mortgage Fraud Strike Force, which in May was tasked with inv
