WASHINGTON - U.S. regulators toughened key sections of the Volcker rule's crackdown on Wall Street's risky trades on Tuesday as they finalized one of the harshest reforms after the credit meltdown.
LONDON - The European Union's executive has ruled out hasty curbs on "shadow banking", or simplistic trading restrictions on mainstream lenders, in case it ends up crimping finance for the economy.
WASHINGTON - The Supreme Court on Tuesday dismissed a case concerning the practice of unions making agreements with private-sector employers when organizing workers, leaving lower courts divided on the issue.
ZURICH - The first Swiss banks have signaled their readiness to work with U.S. officials in a crackdown on wealthy Americans evading taxes and many more are expected to follow in the coming weeks, in the latest blow to Switzerland's cherished bank secrecy.
WASHINGTON - The United States will not implement the so-called Volcker rule before 2015, a top regulator said on Tuesday, a widely expected move after regulators struggled for years to agree on the ban on proprietary trading.
BRUSSELS - European Union regulators have fined drugmakers Johnson & Johnson and Novartis 16.3 million euros ($22 million) for blocking the sale of a cheaper generic rival to their painkiller fentanyl.
WASHINGTON - The Commodity Futures Trading Commission, one of five regulators due to adopt the so-called Volcker rule on Tuesday, said it canceled a public vote on the issue because of the threat of a snowstorm in the Washington area.
- The final version of the Volcker rule to ban banks from gambling with their own money is "significantly different" from the originally proposed version, making its impact on the markets difficult to gauge, a top U.S. securities regulator said on Monday.
WASHINGTON - The Securities and Exchange Commission's top accountant on Monday urged accounting firms to think carefully before acquiring non-audit related consulting businesses, warning such moves could damage their independence and credibility.
- A Republican member of the U.S. Securities and Exchange Commission blasted other government regulators on Monday for requiring JPMorgan Chase & Co to pay $13 billion to resolve allegations of mortgage misdeeds tied to the financial crisis.
- Financial: Watt nomination to be U.S. housing regulator clears Senate hurdle
- Technology: Cellcom, Pelephone to share Israeli 4G network costs
- Healthcare: UPDATE 1-Merck moves Alzheimer's drug into big trials after safety review
- Consumer: UPDATE 2-EU regulators fine J&J, Novartis for generic drug deal
- Energy: Mexican lawmakers send energy reform bill to Senate floor
- Industrials: Romania parliament rejects new mining framework
- M&A: HSBC to sell stake in Bank of Shanghai to Santander
- Bankruptcy: UPDATE 2-Bid deadline for Canada's Mobilicity delayed by a week
- IPOs: UPDATE 2-Alitalia pockets emergency cash, heads to union meeting
- Private Capital: UPDATE 3-U.S. regulators seek to curb Wall St trades with Volcker rule
- Hedge Funds: New hedge funds need $300 million in assets just to break even
Inter-agency political battles among various regulatory bodies in the United States could provide a microcosm of the difficulties that may surface in the next crisis when each jurisdiction would look after its best interests.
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