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News & Commentary
Content tagged with Compliance posted in December 2012
A Look Ahead to the Capital Markets in 2013
Slideshows  |  12/21/2012  | 
The Eurozone crisis is far from over, the fiscal cliff is top of the headlines and industry revenues continue to decline. Adding to their collective headache, financial organizations are dealing with flat IT budgets while striving to innovate in today’s ultra-competitive market. But there are a host of bright spots in the financial technology world. Here is a look at Wall Street & Technology’s take on the key issues that will shape the industry in 2013.
Regulatory Black Hole Puts Banks Off Deals
News  |  12/21/2012  | 
Regulatory uncertainty is putting large banks off buying the assets of smaller rivals, complicating the sector's restructuring and giving hedge funds and private equity a golden opportunity to swoop in.

Regulatory Black Hole Puts Banks Off Deals
News  |  12/21/2012  | 
Regulatory uncertainty is putting large banks off buying the assets of smaller rivals, complicating the sector's restructuring and giving hedge funds and private equity a golden opportunity to swoop in.

World's Investors Stirred, Not Shaken by U.S. Fiscal Crisis
News  |  12/21/2012  | 
Global investors are betting Washington will overcome its budget deadlock despite an apparently serious setback.

UBS Libor fixing fine puts brokers under scrutiny
News  |  12/19/2012  | 
The complex world of inter-dealer broking took centre stage on Wednesday as UBS admitted that its traders paid bribes to brokers in return for their help rigging interest rates.

MF Global Judge Wary of Letting Customers Depose Corzine
News  |  12/19/2012  | 
A bankruptcy judge responded on Wednesday with skepticism to a request by former MF Global customers to depose the collapsed brokerage's former chief Jon Corzine.

Two Former Fund Managers Guilty of Insider Trading
News  |  12/18/2012  | 
Two former hedge fund managers were convicted on Monday of illegal trading in Dell Inc stock based on secret information supplied by research analysts, the latest in a string of Wall Street insider-trading convictions.

Massachusetts Fines Morgan Stanley Over Facebook IPO
News  |  12/18/2012  | 
Morgan Stanley, the lead underwriter for Facebook Inc's initial public offering, will pay a $5 million fine to Massachusetts for violating securities laws governing how investment research can be distributed.

Two Former Fund Managers Guilty of Insider Trading
News  |  12/18/2012  | 
Two former hedge fund managers were convicted on Monday of illegal trading in Dell Inc stock based on secret information supplied by research analysts, the latest in a string of Wall Street insider-trading convictions.

Asia Brokers In Balancing Act to Bypass Stalled HFT Debate
News  |  12/17/2012  | 
Brokers in Asia are trying to balance traditional investors and the new force of high-frequency traders to keep profits growing amid a pullback in overall trading volumes, seeking to move past a stalled debate on trading models.

U.S. Banks Add to Call for Easing Liquidity Rule
News  |  12/17/2012  | 
U.S. banks want regulators to ease a rule forcing them to hold large amounts of assets that can be tapped at short notice in a crisis, saying the buffers built up already should be enough.

Ex-Wells Fargo Banker Arrested in Insider-Trading Scheme
News  |  12/14/2012  | 
A former Wells Fargo banker was arrested on Thursday on charges of fraud, conspiracy and money laundering resulting from an insider-trading scheme that netted its participants $11 million, the Justice Department said.

Four Deutsche Bank Employees Jailed on Thursday
News  |  12/14/2012  | 
Four of the five Deutsche Bank employees arrested for money laundering or obstruction of justice related to a carbon trading scheme will remain in jail, the Frankfurt prosecutor said on Thursday.

Financial Stability Oversight Council Considers Money Fund Designation
News  |  12/14/2012  | 
The U.S. risk council discussed using its powers under Dodd-Frank to impose more regulatory oversight on money market funds.
Wall Street Nemesis Warren to Join Senate Banking Committee
News  |  12/13/2012  | 
Wall Street critic and Senator-elect Elizabeth Warren will join the Senate Banking Committee where she is likely to be a loud voice in favor of tight financial regulation.
Here Comes the CFTC: The Regulators Keep Coming Back for More
News  |  12/13/2012  | 
The ripples from the financial crisis are still being felt as regulators continue to find new ways to monitor, control and examine the daily work of asset managers.
US Man Pleads Guilty to Wire Fraud in Hedge Fund Scheme
News  |  12/13/2012  | 
A man who stole money from clients after convincing them he was a Harvard-trained hedge fund manager with more than $1 billion under management plead guilty on Wednesday to five counts of wire fraud, the U.S. Department of Justice said.

Wall St Nemesis Warren to Join U.S. Senate Banking Committee
News  |  12/13/2012  | 
Wall Street critic and Senator-elect Elizabeth Warren will join the Senate Banking Committee next year where she is likely to be a loud voice in favor of tight financial regulation.

Budget Deal Could Set U.S. Economy 'Booming' - Dimon
News  |  12/12/2012  | 
JPMorgan Chase & Co CEO Jamie Dimon said the United States could have a "booming economy" in a couple of months if lawmakers in Washington reach agreement to deal with the looming spending cuts and tax increases known as the "fiscal cliff."

Europe Seeks to End Discord Over Banking Union
News  |  12/12/2012  | 
An impasse over plans for the European Central Bank to supervise banks takes centre stage at a finance ministers' meeting.
HSBC: How Simple Became Complicated, and Costly
News  |  12/12/2012  | 
HSBC takes its name from its roots as the Hongkong and Shanghai Banking Corporation, but there has long been a joke that the name stands for "How Simple Became Complicated."
HSBC to Pay $1.9 Bln U.S. Fine in Money-Laundering Case
News  |  12/11/2012  | 
HSBC has agreed to pay a record $1.92 billion fine to settle a multi-year probe by U.S. prosecutors, who accused Europe's biggest bank of failing to enforce rules designed to prevent the laundering of criminal cash.

Three British Men Arrested in UK Libor Probe
News  |  12/11/2012  | 
Three British men were detained in London on Tuesday in the first arrests stemming from a global investigation into the manipulation of interbank lending rates.

SEC Charges Morgan Keegan Founder Over Asset Pricing
News  |  12/11/2012  | 
U.S. securities regulators filed civil charges against eight board members of mutual funds run by Morgan Keegan, including one of the firm's founders, saying they failed to oversee managers who inaccurately priced toxic mortgage-backed assets leading up to the financial crisis.

The Dodd-Frank Stress Test Rule is Stressing Out U.S. Banks
Commentary  |  12/10/2012  | 
Another day, another regulatory rule. And this one seems to be causing stress for risk and compliance managers at U.S. banks.
IMF Chief Says U.S. Needs Blend of Spending Cuts, Revenue Raising
News  |  12/10/2012  | 
The United States needs a balanced, comprehensive approach to tackle its fiscal woes that should include a mix of spending cuts and revenue increases, the head of the International Monetary Fund said on Sunday.

HSBC Hires Financial Crime Fighter
News  |  12/10/2012  | 
The UK bank is currently embroiled in a money-laundering scandal that could cost it over $1 billion.
SEC Charges 8 Mutual Fund Directors Over Asset Valuation
News  |  12/10/2012  | 
U.S. securities regulators charged eight former mutual fund board directors on Monday with fraudulently overstating the value of their securities at the brink of the housing crisis.

Goldman Sachs Fined $1.5 Million for Trading Glitch
News  |  12/7/2012  | 
Goldman Sachs Group Inc was fined $1.5 million to settle charges it failed to supervise its traders and allowing one futures dealer to hide billions in dollars from sight and causing a $118 million loss.

After MF Global, Insurance Weighed to Protect Futures Customers
News  |  12/7/2012  | 
Long-derided as unsuitable for sophisticated futures markets, insurance is getting a surge of attention heading into the new year as the industry works to patch itself up after the stunning collapse of brokerage MF Global in 2011.

Goldman Sachs Fined $1.5 million for Trading Glitch
News  |  12/7/2012  | 
Goldman Sachs Group Inc was fined $1.5 million to settle charges it failed to supervise its traders and allowing one futures dealer to hide billions in dollars from sight and causing a $118 million loss.

SEC Partially Lifts Moratorium on Actively Managed ETF
News  |  12/7/2012  | 
The U.S. Securities and Exchange Commission is partially lifting an almost three-year-old moratorium on applications for actively managed, exchange-traded funds, creating an opportunity for fund managers to use derivatives when they launch them.

How FATCA Will Impact Asset Managers
News  |  12/6/2012  | 
FATCA becomes effective on January 1, 2014. Sitting back and waiting for further clarification of the requirements is not an option.
Securities Regulators Eying Websites Tied to Crowdfunding
News  |  12/6/2012  | 
A spike in website names related to crowdfunding suggests an upcoming wave of websites through which small businesses and entrepreneurs could raise investments using the online strategy.
SEC Charges China Affiliates of Top Accounting Firms
News  |  12/4/2012  | 
U.S. regulators have charged the Chinese arms of the world's five top accounting firms with securities violations, raising tensions in a regulatory standoff which experts say could kill off U.S. listings for Chinese firms if not resolved.

What the Market Wants: Shame of Washington!
Commentary  |  12/4/2012  | 
I am politically independent, but I am shocked at the indifference both sides have to giving us some comfort that they will work together to get the fiscal cliff issues solved.
Data Visualization's New Shine
News  |  12/3/2012  | 
In the hunt for alpha, Wall Street firms look for the right data visualization technologies to make sense of petabytes of structured and unstructured data while maintaining regulatory compliance.


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