A financial industry trade group said on Wednesday it resolved a dispute with U.S. stock exchanges that had threatened to hold brokers liable for any breaches of a new trading database controlled by the exchanges and the Financial Industry Regulatory …
The U.S. Supreme Court on Monday scaled back the Securities and Exchange Commission’s power to recover ill-gotten profits from defendants’ misconduct, handing Wall Street firms a victory and dealing another blow to the regulator’s enforcement powers. In a 9-0 ruling, …
Wall Street and business lobbying groups have teamed up to fight the Obama administration’s new rules for U.S. brokers managing retirement accounts, saying the regulations include a ” deliberately unworkable” fiduciary standard. The U.S. Chamber of Commerce joined groups including …
The U.S. Labor Department on Friday took the next step toward requiring brokers who provide retirement advice to follow a “fiduciary” standard of putting clients’ interests first, a move that could roil the financial services industry. The White House’s Office …
This spring, traders and analysts working deep in the global swaps markets began picking up peculiar readings: Hundreds of billions of dollars of trades by U.S. banks had seemingly vanished. “We saw strange things in the data,” said Chris Barnes, …
