Regulatory News

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UBS says books 254 million Sfr against second quarter to settle one German tax probe

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ZURICH - UBS booked a 254 million Swiss franc ($280.79 million) charge in the second quarter mainly to settle claims it helped wealthy Germans to dodge taxes, the latest in a string of lawsuits that have targeted its private banking business.

U.S. regulators looking into UBS, Deutsche Bank speed trading operations

FRANKFURT/ZURICH - Germany's Deutsche Bank and Switzerland's UBS said they were caught up in an inquiry by U.S. regulators, who are looking into whether broker-run stock exchanges gave an unfair advantage to high-frequency traders.

Breakingviews, Germany 8:07am EDT

Bitcoin catches on in tech-savvy Romania

BUCHAREST - In a well-lit office with red window frames in downtown Bucharest, Romania's first bitcoin ATM attracts many who until it opened in May had to buy or sell the digital currency face-to-face or through wire transfers.

Tech, Breakingviews 28 Jul 2014

China regulator mulls tighter controls on life insurers: media

SHANGHAI - China's insurance regulator is considering new measures that will brake firms' capacity to launch life insurance plans in the rapidly growing industry as part of moves to reduce the risk of defaults in the sector, local media reported on Tuesday.

Breakingviews 28 Jul 2014

Court orders Russia to pay $50 billion for seizing Yukos assets

MOSCOW/LONDON/AMSTERDAM - An international arbitration court ruled on Monday that Russia must pay $50 billion for expropriating the assets of Yukos, the former oil giant whose ex-owner Mikhail Khodorkovsky fell foul of the Kremlin. | Video

Breakingviews, Russia 28 Jul 2014

U.S. FCC needs better data on TV stations' shared deals: watchdog

WASHINGTON - The Federal Communications Commission may have problems ensuring that its regulations on shared arrangements by TV stations meet the agency's goals on competition and diversity because "it lacks basic data," the U.S. government watchdog said on Monday.

Breakingviews 28 Jul 2014

Smith & Wesson settles SEC bribery case over firearms sales

- Smith & Wesson Holding Corp has agreed to pay $2.03 million to settle U.S. Securities and Exchange Commission charges its employees and representatives bribed foreign officials to supply firearms to military and law enforcement departments overseas.

Breakingviews 28 Jul 2014

U.S. derivatives regulator prepares for courtroom showdowns

WASHINGTON - The U.S. federal agency regulating derivatives has fought just three trials since 2011, all against small-time fraudsters in Florida. Now it is poised to take on a series of formidable opponents in the biggest courtroom tests yet of its efforts to crack down on market wrongdoing.

Breakingviews 28 Jul 2014

Ex-Harbinger COO settles SEC claims he aided fraud

NEW YORK - The former chief operating officer of Philip Falcone's hedge fund Harbinger Capital Partners has agreed to pay $200,000 to resolve charges he aided a scheme to misappropriate fund assets, the U.S. Securities and Exchange Commission said Monday.

Breakingviews 28 Jul 2014

JP Morgan questioned on private bank impropriety: WSJ

- JPMorgan Chase & Co executives have faced regulators' questions on whether private bank advisors guide clients to buy the firm's own financial products, according to a report in the Wall Street Journal.

Breakingviews 27 Jul 2014

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