SEC Probes Role of Hedge Fund in CDOs
by The Compliance Exchange on May 17, 2012
U.S. securities regulators are investigating hedge-fund firm Magnetar Capital LLC, which bet on several mortgage-bond deals that wound up imploding during the financial crisis, according to people familiar with the matter. … Read More »
SEC’s Khuzami Will Defend Settlement Practices
by The Compliance Exchange on May 17, 2012
The Securities and Exchange Commission’s enforcement chief is set to defend the SEC’s heavy use of settlements in enforcement actions, including its practice of allowing defendants to settle charges while neither admitting nor denying wrongdoing. SEC Enforcement Chief Robert Khuzami, … Read More »
Regulators Concerned About Risk Management, SEC Held Closed Meetings on JPMorgan, Romney Cautions On Regulation: CompliancEX News 5/17/2012
by The Compliance Exchange on May 17, 2012
Accidentally Released – and Incredibly Embarrassing – Documents Show How Goldman et al Engaged in ‘Naked … Read More »
Judge Permits Wiretaps in Gupta Trial
by Kyle Colona on May 17, 2012
The federal judge presiding over the “expert-network” insider trading trial said on Wednesday that he intends to allow the use of taped phone conversations that Team Gupta sought to have excluded.
Federal prosecutors said in a pleading that the “importance” of the phone taps could not be overstated. Read More »
Bankers Criticize Proposed International Tax Regulations
by Lisa Swan on May 17, 2012
Global bankers are hopping mad over proposed new Internal Revenue Service requirements involving tracking overseas banking, Richard Rubin of Bloomberg News reports. They said at an IRS hearing this week that the U.S’s rules are too onerous and need to be changed.
Andrew Barkin of the Bank of Tokyo-Mitsubishi UFJ Ltd was one of the … Read More »
CFTC Settles with Another Dark Pool Player and Four Other Things Compliance Pros Need to Know 5/17/12
by Kyle Colona on May 17, 2012
CFTC Settles Fraud Charges with ACI Capital Group
The CFTC simultaneously filed and settled against Alexandre P. Guimaraes and his company, ACI Capital Group, L.L.C. (ACI).
The Irvine, CA-based Forex outfit was charged with “fraudulently” soliciting customers to trade off-exchange foreign currency contracts. Off-exchange plays such as these are more commonly known as dark … Read More »
CompliancEX Special Conference Announcement: Compliance Operations and Risk 2012
by The Compliance Exchange on May 17, 2012
THE REGULATORY COMPLIANCE ASSOCIATION PRESENTS:
Compliance Operations and Risk 2012 – San Francisco™
Thursday, June 21st, 2012
Ritz Carlton, San Francisco, California
On February 11th the Wall Street Journal reported that SEC has launched an inquiry into the private investment funds industry, including:
• Valuation methods
• Marketing, advertising and business development activities
• Fund formation
• … Read More »
ERM and Basel Implementation & New Capital Charges: how prepared are you, and your organization, for the challenges ahead?
by The Compliance Exchange on May 17, 2012
CompliancEX would like to bring to our readers attention of an upcoming conference based in London on June 12-13, 2012.
Since the financial crisis, national and international events, as well as new rules and regulations have resulted in crucial needs and requirements for FIs. With the deadline for implementation of Basel 2.5 … Read More »
Will JP Morgan’s “Whale” of a Loss Be a Killer For Other Banks?
by Kyle Colona on May 16, 2012
A Congressional committee announced plans on Monday to hold yet another hearing on the Volcker rule. But this latest act of political theater will also take a look at the JPMorgan Chase $2 billion loss in the synthetic credit swap market.
This hearing will take place just before another … Read More »
Shocker: Much of State Mortgage Settlement Money Not Going to Homeowners
by Lisa Swan on May 16, 2012
Remember that $25 billion that the nation’s biggest banks agreed to pay to settle claims about mortgage shenanigans? About $2.5 billion of that money was supposed to go to the states, to be used to prevent foreclosures and alleviate the housing crisis. Guess what? Shaila … Read More »
