HSBC’s US securities operations agree to pay $1.8bn after CFTC allegations it was involved in ‘numerous acts of spoofing’.
US banks lobbied hard for a rollback of the Volcker Rule and a return to proprietary trading to bolster profits. They will soon find that it’s now a different world.
US regulator cited concerns around valuation and liquidity, among other issues; but comments made in rejection letter open path to eventual approval.
The return of SAC Capital’s founder with a new venture reveals the complicated ethics of a post financial crisis world.
Bank released from deferred prosecution agreement after meeting its terms; outgoing CEO says AML to remain ‘a top priority’ in 2018.
Ben Pott, head of government affairs at NEX Group, suggests Brexit and the time taken to resolve US-EU CCP issue, make equivalency rulings unlikely.
Regulators to introduce rules on ICOs/ITOs which raised nearly $400mn in 1st half of 2017; follows moves by the US and Singapore in July.
Ignore the US President’s recent legislative failures. Shots at his next target - financial regulations - are likely to hit home, and abroad.
Compliance with US overseas enforcement actions is unlikely to change in Asia despite the dilemma it raises for the region's banks.
Events point to major reforms in Dodd-Frank that could unleash a wave of liquidity.
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