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A Colorado regulator has entered a cease-and-desist order against a Texas oil and gas company accused of offering unregistered securities in Colorado.
Two agencies with oversight of the financial markets on Friday proposed changes to eliminate their differences in regulating similar securities and futures investments.
With regulators warning that rising losses on commercial real estate loans pose risks for U.S. banks, senators asked Wednesday for greater attention to be focused on vulnerable smaller banks.
Synovis Life Technologies Inc. said Wednesday its orthopedic and wound care business passed a California health inspection, allowing it to make and sell two soft tissue repair products.
The financial crisis has renewed the focus on bank regulation. Critics contend the patchwork system contributed to the crisis by allowing some banks to slip through the cracks and others to seek weaker oversight.
Changes in accounting standards, rules and policies for financial institutions must be coordinated globally in the effort to help avoid a recurrence of the economic crisis, federal regulators said Monday.
Two agencies with oversight of the financial markets on Wednesday started coordinating their rules to eliminate differences involving similar types of investments, while the head of a major U.S. exchange said those efforts could do "more harm than good."
Colonial BancGroup Inc. on Monday said it has agreed to a cease-and-desist order with federal and state regulators who are seeking to ensure the struggling bank holding company has adequate capital.
Key regulators on Thursday broke with the Obama administration, reaffirming their belief that some new powers to monitor big institutions against financial threats should go to an interagency council, not the Federal Reserve.
The global market meltdown has created broad consensus that tough new rules are needed to prevent anything like this from happening again. But as Congress and the White House begin getting down to details, that’s pretty much as far as the consensus goes.
The chairman of the House Financial Services Committee said Tuesday he hoped to begin writing legislation by early May on overhauling how the federal government regulates the nation's financial system.
Starting in 1992, federal regulators repeatedly examined various aspects of Bernard Madoff's business operations, but they never turned up the alleged $50 billion Ponzi scheme that led to Madoff's arrest in mid-December. The history of regulatory failure in the Madoff scandal:
Starting in 1992, federal regulators on many occasions examined various aspects of Bernard Madoff's business operations, but they never turned up the alleged $50 billion Ponzi scheme that led to Madoff's arrest last month. The history of regulatory failure in the Madoff scandal:
A key senator on Monday questioned regulators' approval of a backdated cash infusion for IndyMac, a big thrift that failed in July and cost the federal insurance fund for banks nearly $9 billion.
President-elect Barack Obama is turning to seasoned pros for the Herculean task of overhauling the way the U.S. regulates its financial system, an effort he says is one of his top priorities.
An international group of securities regulators, including the U.S. Securities and Exchange Commission, agreed Monday to begin work on a coordinated response to several aspects of the global financial crisis.
Financial regulators on Monday announced an information-sharing agreement aimed at better detecting potential risks to the U.S. financial system.
A recent deal with its state regulator has allowed ACA Capital Holdings Inc. to continue operating its bond insurance unit, but that solution is expected to be only temporary, as analysts doubt the company can survive in the long term.
Two chief consumer product safety regulators for the Bush administration accepted dozens of trips paid for by toy makers, children's furniture manufacturers and other industries they oversee, it was reported Friday.
Seven Banks Fail FridayState and federal regulators closed seven community banks in five states Friday, bringing the total number of failed U.S. banks and thrifts this year to 106.
Three U.S. Banks Close, Bringing Failure Toll This Year to 98 -Oct. 2 (Bloomberg) -- Banks in Minnesota, Michigan and Colorado were shut by regulators, bringing this year's toll of U.S. failures to 98 amid the worst financial crisis in more than seven decades.
Apple denies rejecting Google Voice for iPhoneApple told federal regulators Friday that it blocked the Google Voice program from running on the iPhone because it alters important functions on the device - yet Apple denied that it has rejected Google's application outright.
Letting the Banking Rats Out of the BagBut for those of us less sophisticated in the ways of Wall Street, it is a surprise that Merrill Lynch executives were rewarded for failure at the same time Bank of America was using $45 billion in taxpayer funds to take over the brokerage house.
Venezuelan regulators pull 34 radio concessions Venezuelan regulators revoked the broadcast rights of 34 radio stations on Friday, deepening a rift between President Hugo Chavez's government and the private media.
EU hits Intel with record $1.44 billion fineThe European Union fined Intel Corp. a record euro1.06 billion ($1.44 billion) on Wednesday over sales tactics it said the world's biggest computer chip maker used to block smaller rival AMD.
Bill Moyers Journal: William K. Black Discusses Banking Crisis - Calls it Fraud - Says There is a Cover-Up (VIDEO)On April 3, 2009 Black appeared on "Bill Moyers Journal" on PBS and provided some disturbing commentary on the current banking crisis.[4] In the interview with Bill Moyers,[5] Black asserted that our current banking crisis is essentially a big Ponzi scheme, that the "liar loans" …
Barney Frank: About Mark to Market, Maybe I Was WrongSeems to be a problem with the link. Try linking from this google search results page. It's a short little article.
The Real AIG OutragePresident Obama joined yesterday in the clamor of outrage at AIG for paying some $165 million in contractually obligated employee bonuses.
Major banks facilitate corruption in world's poorest countries; government regulation is not workingAs G20 finance ministers meet in London to discuss how to rescue the global financial system and prevent the next disaster, a new report by anti-corruption NGO Global Witness shows how some of the world's biggest banks have been dealing with some of the world's most corrupt r …
Undue DiligenceGlobal Witness new report Undue Diligence names major banks who have done business with corrupt regimes / kleptocrats. By accepting these customers, banks assist those who are using state assets to enrich themselves or brutalise their own people.
Fraud Case Shakes a Billionaire's Caribbean Realm - NYTimes.comWow, what an amazing story this is! This guy pulled off a MASSIVE con job, but what is fascinating is how far he got, and all the levels he was able to compromise, all from a little island empire, and the deep deep corruption of the whole "off-shore" tax evasion movement.
Marketplace: Housing plan raises ethical questionsThe banker we were just talking about has a genuine professional duty to issue prudent mortgages. The federal regulators who are overseeing the financial sector have a sworn duty to make sure prudent practices are observed.
Brown calls for bank bonus shake-up LONDON: Regulators should be given the power to penalise banks that pay bonuses to reward short-term deal-making rather than long-term performance, Prime Minister Gordon Brown said on Thursday.
The mission of the Securities and Exchange Commission ("SEC"), according to their own Website, is to "protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation".
Madoff Tipster Blasts SEC, Says He Feared for His Safety Harry Markopolos, a whistleblower who struggled for a decade to get regulators to stop the operations of disgraced money manager Bernie Madoff, slammed the Securities and Exchange Commission in his first appearance before Congress. TheCapitalist
Peanut Plant Knew Product Was Tainted with SalmonellaThe maker of peanut butter linked to a nationwide outbreak of salmonella shipped tainted product it knew had tested positive for the bacteria, the Food and Drug Administration said Wednesday. More Articles
Political Interference Seen in Bank Bailout Decisions - Barney Frank Goes to Bat for Lender, and It Gets an InfusionFolks, this is why we can't trust the government with our money. Exhibit A: Barney Frank, representative from Massachusetts, and the head of the important House Financial Services Committee.
SEC Report: Employees Browsed Porn, Ran Private BusinessesThe Securities and Exchange Commission is taking a drubbing these days for its abject failure―despite detailed tips―to catch Bernie Madoff in what appears to be the biggest Ponzi scheme in our nation's history.
Harry Markopolous's letter to the SEC in 2005: "The World's Largest Hedge Fund Is a Fraud"Various laws attempt to protect and reward insider whistleblowers who call to public attention wrongdoing by the institutions that employ them. But little incentive exists for outsiders to point out big shots' fraud and misinformation, other than public approbation.
Banks Seek Help to Forgive Some Credit Card Debt - USATODAY.comTo head off surging credit card defaults, banks and consumer groups are lobbying regulators to make it easier to forgive a portion of struggling consumers' credit card debt. More Articles
Google Learns Lessons in the Ways of WashingtonAfter Google and Yahoo announced an advertising partnership in June, letters from consumer groups and advertising associations poured into government regulators, urging them to support or block the proposed deal.
Cantwell seeks explanation of WaMu seizure by fedsSen. Maria Cantwell wants federal regulators to explain the timing and sequence of decisions and actions that led to the seizure and sale of Washington Mutual's banking operations.
Regulators Raid Wachovia SecuritiesSecurities regulators from several U.S. states on Thursday inspected the St. Louis headquarters of Wachovia Securities, seeking documents and records on the company's sales practices.
Regulators seek $200 million in refunds for credit-card users"Consumers suffer significant problems due to inadequate credit-card disclosures and predatory lending practices, particularly with some subprime products," said Thomas Curry, FDIC board member, in a statement. The FDIC is seeking restitution from CompuCredit Corp.
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