Reopening the U.S. mortgage securitization pipeline is a vital step toward a housing market recovery that will boost the wider economy, Comptroller of the Currency Thomas Curry said yesterday in a Las Vegas speech.
The U.S. Securities and Exchange Commission rejected Nasdaq Stock Market’s request to offer clients trading algorithms that would enable them to execute buy and sell orders according to predetermined guidelines.
Deutsche Bank AG and Germany’s finance regulator are under pressure to publish findings of a probe into whether the lender rigged interest rates, with lawmakers saying a rule meant to protect banks is crippling efforts to explore what’s wrong with financial markets.
Eric Ben-Artzi, a former quantitative risk analyst for Deutsche Bank AG, alleged that Europe’s biggest lender engaged in a multibillion-dollar securities violation. Deutsche Bank denied the allegation.
Securities and Exchange Commission Chairman Mary Schapiro authorized hiring a chief compliance officer and will require employees get “pre-clearance of all trades” and be prohibited from trading securities of issuers under investigation, amid a probe by federal prosecutors into trading by two agency lawyers.
Citigroup Inc. stopped soliciting clients for some retail banking products in Japan as it awaits the outcome of a government investigation into its compliance with local rules, two people with knowledge of the matter said.
Profits are moving U.S. equity prices more than any time since the bull market began 3 1/2 years ago, rewarding investors for picking stocks based on company data instead of following the herd rocked by Europe’s debt crisis and the slowing U.S. economy.