Regulatory News

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Ex-Bank of New York Mellon trader pleads guilty to insider trading


NEW YORK - A former Bank of New York Mellon Corp trader on Friday pleaded guilty to insider trading based on tips from a former Merck & Co Inc employee about potential pharmaceutical mergers.

Tesco hit with U.S. investor lawsuit over accounting irregularities

NEW YORK - Tesco Plc has been hit with a proposed class action lawsuit in the United States by investors over accounting irregularities at Britain's largest retailer.

Breakingviews 1:48pm EDT

Deutsche Bank braces for $1.3 billion in U.S., UK Libor fines: sources

FRANKFURT - Deutsche Bank is bracing to pay almost 1 billion euros ($1.3 billion) for Libor-related fines as it nears a deal with U.S. and UK authorities to settle allegations it attempted to manipulate the benchmark interest rate, two sources familiar with the matter said on Friday.

Breakingviews, 1:10pm EDT

Baxter's blood disorder drug gets FDA approval

- Drugmaker Baxter International Inc said the U.S. Food and Drug Administration had approved its drug for treating bleeding episodes in adults with a rare bleeding disorder.

Health, Breakingviews 1:15pm EDT

U.S. delays 'incentive' airwaves auction to early 2016

WASHINGTON - The U.S. Federal Communications Commission expects a major auction of low-frequency airwaves to be pushed back to early 2016 from mid-2015 because of its complexity and a pending court challenge, an FCC official said in a blog post on Friday.

Breakingviews, Tech, Media 2:49pm EDT

Swiss officials search Sarasin bank in German tax probe

ZURICH - Swiss authorities have searched the offices of private Bank J. Safra Sarasin as part of a probe led by German prosecutors into dividend stripping, an investment strategy that can be used to help clients avoid taxes, a Zurich prosecutor said.

Breakingviews, 7:48am EDT

UK accounting watchdog studying Tesco statements

LONDON - Britain's accounting watchdog, the Financial Reporting Council, said it was scrutinizing supermarket Tesco's announcement on accounting irregularities as it decides whether to take enforcement action.

Breakingviews 5:23am EDT

Rajaratnam's brother reaches insider trading deal with SEC

NEW YORK - Rengan Rajaratnam, who was cleared of criminal insider trading charges following the conviction of his older brother, Galleon Group founder Raj Rajaratnam, has agreed to pay more than $841,000 to resolve civil claims by the U.S. Securities and Exchange Commission. The settlement was filed on Thursday by the SEC in New York federal court, three months after a federal jury in Manhattan acquitted Rengan Rajaratnam of conspiring to engage in insider trading, a rare defeat for

73 Swiss banks ask U.S. to revise proposed tax amnesty deals

- Lawyers representing 73 Swiss banks seeking to avoid a tax-evasion probe by U.S. authorities wrote a letter to the U.S. Department of Justice raising questions over a dozen demands, including the banks' cooperation with other nations.

Breakingviews 23 Oct 2014

Honda executive says will keep doing business with Takata

TOKYO - Honda Motor Co will continue to do business with Takata Corp, a senior executive at Japan's third largest automaker said on Friday, even as defective Takata airbags threaten to expand a recall already affecting 5 million Honda cars in the United States.

Breakingviews 23 Oct 2014

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