Regulatory News

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Banks boost FX settlement war chest to as much as $6.5 billion

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LONDON - Major U.S. and European investment banks this month boosted to as much as $6.5 billion their collective war chest for settling with global regulators who are investigating allegations of collusion and manipulation in the foreign exchange market.

Ex-Monte Paschi chairman sentenced to jail in derivatives case

SIENA Italy - An Italian court on Friday sentenced former Banca Monte dei Paschi di Siena chairman Giuseppe Mussari to three years and six months in jail for misleading regulators in relation to a 2009 derivative trade with Nomura that prosecutors said was used to conceal losses.

Breakingviews 1:04pm EDT

U.S. regulators fine Ferrari $3.5 million for not filing reports

DETROIT - Fiat Chrysler Automobiles' Ferrari sports car brand has been fined $3.5 million for not filing "early warning reports" indicating safety issues with U.S. safety regulators, the National Highway Traffic Safety Administration said on Friday.

Breakingviews 11:10am EDT

SEC subpoenas Ally Financial over subprime auto lending

NEW YORK - The U.S. Securities and Exchange Commission is investigating the subprime auto lending and securitization practices at No. 2 U.S. auto lender Ally Financial Inc, the company said on Friday.

Breakingviews 12:41pm EDT

U.S. governmental accounting board takes on tax abatement programs

WASHINGTON - U.S. state and local governments would have to disclose how much revenue they stand to lose through tax breaks for economic development projects under requirements the Governmental Accounting Standards Board is considering.

Money, Breakingviews 1:48pm EDT

Aston Martin wins temporary exemption to new U.S. safety rules

LONDON - British luxury sports car maker Aston Martin has been granted a temporary exemption to new U.S. safety rules that would have stopped it selling hundreds of cars in one of its key markets, American regulators said on Friday.

Breakingviews 10:10am EDT

Trial of former UBS executive dredges up Swiss banks' shady past

By Francisco Alvarado, Zachary Fagenson and Joshua Franklin

Breakingviews, Money 8:10am EDT

U.S. FCC chief may propose 'hybrid' net neutrality plan: WSJ

WASHINGTON - The U.S. Federal Communications Commission chief is close to settling on a hybrid legal strategy for new Internet traffic rules that would treat part of the web network as a public utility, the Wall Street Journal reported in Friday's newspaper.

Breakingviews, Tech 12:31pm EDT

U.S. regulator to Takata: Give us faulty air-bag documents

DETROIT - U.S. auto safety regulators on Thursday ordered Japanese supplier Takata Corp to provide documents and answer questions under oath related to the government's ongoing probe of potentially defective Takata air bags in millions of U.S. vehicles.

Breakingviews, Japan, Mexico 30 Oct 2014

FINRA names Richard Berry head of securities arbitration

- The Financial Industry Regulatory Authority on Thursday named a long-time official, Richard Berry, as the new head of its securities arbitration unit.

Breakingviews 30 Oct 2014

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