Are You Paying Too Much for Your Trades?
At least one financial regulator suspects you are.
Regulation
Legal & General to Cut Jobs as Annuity Sales Plummet
The end of mandatory annuitization will likely mean a leaner workforce at the UK provider.
Dark Pool Inquiry Spreads to UBS, Deutsche Bank
The European
banking giants have been questioned by US regulators for possible securities
law violations concerning high frequency trading.
Op-Ed: Congress’ Temporary Pension Relief Is Hardly Relief At All
As legislators grapple over another highway bill funded on pension smoothing, former PBGC Director Charles Millard calls for the measure to be made permanent.
A Hippocratic Oath for Bankers?
More regulation won’t work, says a UK think tank and suggests bankers take the moral high ground.
SEC Allows Redemption Fees for Money Market Funds
The regulator is to introduce floating valuations and the option for redemption fees as part of an overhaul of money market fund rules.
Deutsche Bank Censured for Shoddy Reporting
The German
bank’s US arm has been criticized for poor governance, inadequate regulatory
reporting technologies, and bad data by regulators.
Credit Suisse Quits Commodities Trading in Litigation Aftermath
The Swiss
bank also reported its largest quarterly loss since the financial crisis following
a $2.6 billion settlement with US authorities for tax evasion.
Senate Committee Condemns Hedge Fund Tax Practices
Practices by two hedge funds have been criticised by the Permanent Subcommittee on Investigations for their use of “basket option structures” to crank up leverage and reduce tax bills.
The Dodd-Frank Act Has Failed, Republicans Say
Instead of
ending “too big to fail,” the 2010 Dodd-Frank Act has further entrenched the
concept into government policy, a GOP report has said.
Obama Signs Order to Draw Investors to US Infrastructure
Interested? The Treasury Department will host a summit for institutional allocators and government officials on September 9.
SEC Investigates 44 Investment Firms on Insider Trading
US
regulators have claimed dozens of prominent hedge funds and asset managers were
part of an insider-trading scheme involving health care companies.
Financial Stability Board Bids to Wipe Out FX Rate Rigging
In the wake of accusations of foreign exchange rate manipulation, the regulatory group has offered up proposals to shore up rate-setting methods.
Fraud Charges Drain Barclays Dark Pool
Trading volume plummeted 37% at Barclays following allegations of “systematic fraud and deceit,” yet order flows largely shifted to other major banks’ dark pools.
Cash, Casino Chips, and CalPERS: Confessions of a Former CEO
The former CEO of the largest US pension has decided to plead guilty on fraud and bribery charges—and reveal everything.