Five U.S. agencies will finish the Volcker rule today after more than three years of Wall Street resistance to its limits on trading and investing. Lawmakers and their allies who want to rein in big banks are ready to pounce if it isn’t strict enough.
Wall Street’s biggest lobbying groups banded together to sue the Commodity Futures Trading Commission, seeking to curb the overseas reach of its rules and rein in a regulatory barrage by its departing Chairman Gary Gensler.
Arthur Levitt, former Securities and Exchange Commission chairman, says an S.E.C. proposal on money market funds "would only make matters worse." Levitt talks with Bloomberg's Tom Keene on Bloomberg Radio's "Bloomberg Surveillance."
British businessman Victor Dahdaleh paid about 40 million pounds ($64 million) in bribes to the former chairman and chief executive officer of Bahrain’s state- owned aluminum producer, a prosecutor said.
Skadden Arps Slate Meagher & Flom LLP and Torys LLP advised Endo Health Solutions Inc. on its agreement to buy Canadian drugmaker Paladin Labs Inc. for about $1.6 billion to expand in that country and emerging markets.
Two weeks ago, I wrote about the Ultimate Obamacare ETF. That's what I called the SPDR S&P Health Care Services ETF (XHS), because out of all exchange-traded funds it had the most exposure to hospitals -- the biggest beneficiary of Obamacare -- while not owning any big brand-name drug companies or medical device makers, both of which will see new taxes under the health insurance law.
U.S. regulators failed to act on “a gift” of a tip from Paulson & Co. Inc. that a major brokerage had approached the hedge fund to solicit help in a scheme to manipulate markets, former Securities and Exchange Commission Chairman Harvey Pitt said.