Regulators cleared Nasdaq OMX Group Inc.’s plan to pay $62 million to compensate brokers for its mishandling of Facebook Inc.’s public debut, dealing a defeat to Wall Street firms that say they lost many times that amount.
The Federal Energy Regulatory Commission lacks authority over futures contracts, a U.S. appeals court ruled, handing a victory to the Commodity Futures Trading Commission and an ex-Amaranth Advisors LLC trader fined $30 million by FERC.
U.S. regulators should apply domestic derivatives rules to overseas firms when foreign laws don’t demand comparable requirements, Securities and Exchange Commission Chairman Elisse B. Walter said in a speech today.
Reserve Bank of Australia Governor Glenn Stevens said the Group of 20 should focus on implementing rule changes in the financial system rather than adding new reforms when Australia takes over the presidency next year.
James Hardie Industries SE, a seller of building products, misled investors about funding asbestos- related claims and seven directors breached their duties by approving the statements, Australia’s top court ruled.