Regulatory News

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U.S. SEC charges Houston adviser with not disclosing fund payments


- A Houston-based investment advisory firm steered clients to certain mutual funds without disclosing that it was receiving payments from the broker who offered those funds, the U.S. Securities and Exchange Commission alleged in a civil fraud complaint on Tuesday.

U.S. denies discount carrier Norwegian Air's bid for early entry

NEW YORK - U.S. regulators slowed discount carrier Norwegian Air International Ltd's quest to operate in the United States on Tuesday, drawing cheers from unions who said the airline pays low wages and does not meet U.S. employment standards.

Breakingviews 7:31pm EDT

Aston Martin may lose U.S. dealers without safety exemption

DETROIT - U.S. Aston Martin dealers say they are in danger of closing if federal regulators refuse to give them an exemption to safety rules that would allow them to keep selling all four models the British luxury sports car maker produces.

Breakingviews 5:15pm EDT

U.S. Republican lawmakers say regulators treat insurers unfairly

WASHINGTON - A group of Republican lawmakers on Tuesday accused U.S. regulators of "disparate treatment" of nonbank financial firms that are currently being considered for tougher oversight.

Breakingviews, Politics, 5:11pm EDT

U.S. court revives Botox-linked shareholder suit against Allergan

SAN FRANCISCO - A U.S. appeals court on Tuesday revived a 2010 shareholder lawsuit against Allergan Inc over allegations the company improperly marketed and labeled the cosmetic drug Botox.

Breakingviews 1:35pm EDT

Abercrombie resolves CEO pay lawsuit, to tighten governance

- Abercrombie & Fitch Co's board agreed to make governance changes to resolve a lawsuit objecting to its awarding longtime Chief Executive Officer Michael Jeffries more than $140 million of compensation since 2007.

Breakingviews 5:05pm EDT

New York's Evans Bank accused of denying loans to African-Americans

NEW YORK - Regional New York bank Evans Bancorp was accused of illegally discriminating against African-Americans in Buffalo by denying them mortgages in a lawsuit filed by the state's attorney general on Tuesday.

Breakingviews 2:17pm EDT

Canada watchdog says Sino-Forest executives deceived investors

TORONTO - Former Sino-Forest Corp [SCLC.UL] executives wilfully defrauded investors using elaborate schemes that artificially inflated the collapsed forestry company's valuation, prosecutors with Canada's biggest securities watchdog said on Tuesday.

Breakingviews 5:28pm EDT

Chile securities regulator levies $164 million fine in SQM probe

SANTIAGO - Chile's securities regulator on Tuesday levied $164 million in fines on eight people and the country's largest brokerage following an investigation into market manipulation linked to trading in fertilizer group SQM and its holding companies.

Breakingviews 2:46pm EDT

U.S. judge dismisses FDIC lawsuit against banks over mortgage bonds

NEW YORK - A judge on Tuesday dismissed a lawsuit by the Federal Deposit Insurance Corporation against banks including Deutsche Bank AG and Credit Suisse Group AG over mortgage-backed securities sold before the 2008 financial crisis.

Breakingviews 12:56pm EDT

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