Regulatory News

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U.S. regulator targeting lower down payments on mortgages


LAS VEGAS - The regulator of Fannie Mae and Freddie Mac said on Monday it was developing rules to let Americans buy homes with down payments as low as 3 percent, part of a push to boost access to credit.

Texas investor Sam Wyly files for bankruptcy after losing SEC fraud case

NEW YORK - Texas tycoon Sam Wyly has filed for bankruptcy, saying he does not have the assets to pay the nearly $300 million that U.S. regulators are demanding for his role in a fraudulent offshore scheme.

Breakingviews 20 Oct 2014

Trinity faces $525 million in damages after U.S. guardrail trial

- Trinity Industries Inc may need to pay $525 million or more, mostly to the U.S. government, after a federal jury found the company liable on Monday for failing to tell a highway agency about changes it made to a guardrail system.

Breakingviews 20 Oct 2014

Canadian sues SEC to stop Herbalife insider trading case

NEW YORK - A Toronto man accused by the U.S. Securities and Exchange Commission of insider trading in Herbalife Ltd on Monday sued the federal regulator to stop it from pursuing its case.

Breakingviews 20 Oct 2014

U.S. Senators seek antitrust scrutiny of Sysco deal to buy U.S. Foods

WASHINGTON - The top two lawmakers on the Senate's antitrust panel have urged regulators to scrutinize food distributor Sysco Corp's planned purchase of rival U.S. Foods for $3.5 billion.

Breakingviews, 20 Oct 2014

Wall Street urges U.S. regulators' joint cybersecurity approach

WASHINGTON - Wall Street's top trade group is calling for the creation of a new inter-agency working group of regulators and the White House that would be tasked with developing consistent cybersecurity rules for the financial industry.

Tech, Breakingviews 20 Oct 2014

Regulators should step back from setting a bank's culture: Barclays

LONDON - Regulators should not get involved in setting the culture of a bank, which should remain the preserve of individual firms as they try to restore trust, the chairman of Barclays said on Monday.

Breakingviews 20 Oct 2014

U.S. top court declines Duane Reade executives' appeals

WASHINGTON - The U.S. Supreme Court on Monday declined to hear two former senior Duane Reade Inc[OKHLPD.UL] executives' appeals of their 2010 securities fraud convictions for inflating earnings at the New York drugstore chain.

U.S., Breakingviews 20 Oct 2014

Banks to get instruction manual for submitting Libor quotes

LONDON - Banks who submit quotes for compiling Libor interest rates will have to follow a manual of instructions to avoid a repeat of the rigging seen in the past, the benchmark's new administrator said on Monday.

Breakingviews 20 Oct 2014

Global regulators to fast-track bank leverage rule

LONDON - Global regulators will fast-track work on finalizing a key benchmark to measure bank capital even as countries begin applying their own higher ratios, a top regulator said on Monday.

Breakingviews 20 Oct 2014

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