U.S. regulators and futures industry players said on Thursday that there is no perfect solution to safeguard customer money in the wake of two major brokerage scandals, but added that policymakers should move quickly on some important fixes. Bart Chilton, …
The chairman of a futures industry trade group said on Thursday that serious consideration should be given to the creation of an insurance fund to protect futures customers, after two major scandals shook confidence in the market. Michael Dawley, chairman …
The U.S. swaps regulator is set to finalize this week a critical reform that will trigger banks and traders having to comply with costly new derivatives rules. The Commodity Futures Trading Commission will vote on Tuesday on a definition of …
A small bank and two conservative advocacy groups said on Thursday that they would file a lawsuit against the new Consumer Financial Protection Bureau, challenging what they call the agency’s “unlimited regulatory power.” It is unclear how much of a …
Futures customers should have access to a fund that guarantees their accounts up to a certain threshold, the trustee liquidating MF Global Holdings Ltd said in a report on Monday. The report, written by Trustee James Giddens to the U.S. …
Executives at financial firms would no longer be able to buy insurance to protect themselves against compensation clawbacks or civil penalties under legislation introduced on Wednesday by U.S. Representative Barney Frank. The bill, Frank said, is aimed at protecting the …
The new Consumer Financial Protection Bureau said on Monday it would coordinate rulemaking and enforcement with the Federal Trade Commission to avoid duplication. Richard Cordray, the recently appointed director of the CFPB, and FTC Chairman Jon Leibowitz signed a memorandum …
When Mariya Kruseck broke her tailbone snowboarding and lost her part-time job five years ago, the then 19-year-old college student was relieved she had bought payment protection to go with her credit card. But she said the product failed to …
