UK financial regulators are seeking to tighten the new regime to monitor the behaviour of senior managers just six months after it first came into force.
(Reuters) - The US Securities and Exchange Commission on Wednesday said it would adopt rules to strengthen the regulatory framework for clearing agencies deemed systematically important or that are involved in complex transactions, such as security-based swaps.
Wells Fargo Chief Executive John Stumpf will forfeit roughly US$41m in stock, as the bank investigates how employees were able to create as many as two million fraudulent bank and credit card accounts under a highly touted cross selling program.
New rules published in China on Friday on credit default swaps were met with scepticism about how effective the hedging tool would be in addressing the country’s growing debt risks.
(Reuters) - The Federal Reserve will seek significantly more capital from the largest US banks and give some relief to smaller lenders as it updates its annual stress test, Fed Governor Daniel Tarullo said on Monday.