Search Results for: financial crisis
CySec on regulation for MMFs
July 2nd, 2014
In view of the upcoming discussions to the Council of the European Union, the Cyprus Securities and Exchange Commission (CySec) has published a press release for the attention of the supervised entities, the stakeholders and the investing public to ...
After BNP, U.S. targets on more banks
July 1st, 2014
BNP Paribas’ guilty plea and agreement to pay nearly $9 billion for violating U.S. sanctions is part of a larger U.S. Justice Department shift in strategy that is expected to snare more major banks and other firms across the ...
The Sterner, Stricter SEC
July 1st, 2014
As Mary Jo White sees it, the Securities and Exchange Commission’s job is to patrol Wall Street and Main Street and catch financial fraudsters. Since becoming the agency’s chair in April 2013, White, a former federal prosecutor and defense ...
Taking Systemic Risk Seriously
June 30th, 2014
There are two leading views about the world’s financial system. The first, heard mostly from executives at leading global banks and their allies, is that the system is safer than it has ever been. According to this view, the ...
Singapore to Require Banks to Hold Liquid Assets for Crises
June 25th, 2014
Banks in Singapore will soon be required to keep certain amounts of easy-to-sell assets on hand in the country to support themselves in times of stress. The new liquidity framework applies to lenders with a “significant retail presence” in ...
US court fines Credit Suisse trader over bond prices
June 25th, 2014
A New York court has fined a former UK-based Credit Suisse trader for his role in artificially inflating bond prices. David Higgs was spared prison, which was the fate of his boss. Higgs pleaded guilty in 2012 to a ...
S&P to face legal challenge from councils
June 24th, 2014
Ratings agency Standard Poor’s has failed to avoid a legal battle with 91 councils, church groups and charities over investments that went bad during the global financial crisis. The Federal Court has denied the agency’s leave to appeal a ...
Don’t Shortchange Short Sellers
June 24th, 2014
More finance journalists and industry people should go to academic conferences. There is a lot of good stuff to learn. Case in point: I recently attended the Western Finance Association’s annual meeting in Monterey, California, and saw several papers ...
Ex-Millennium Fund Manager Gets Four Years in Prison
June 24th, 2014
Former Millennium Global Investments portfolio manager Michael Balboa was sentenced to four years in prison for defrauding investors by inflating the value of Nigerian sovereign debt by $80 million. Balboa, convicted in December in a retrial in Manhattan federal ...
Bond Market Has $900 Billion Mom-and-Pop Problem When Rates Rise
June 24th, 2014
It’s never been easier for individuals to enter some of the most esoteric debt markets. Wall Street’s biggest firms are worried that it’ll be just as simple for them to leave. Investors have piled more than $900 billion into ...
