The U.S. Securities and Exchange Commission is writing new rules in the wake of Knight Capital Group Inc. losses that could turn longstanding policies for how exchanges manage their automated systems into regulations.
Tracey McDermott has been named the U.K. financial regulator’s head of enforcement after leading its investigations into attempted manipulation of interbank offered rates and a push to prosecute insider trading.
Margaret Cole, the U.K. Financial Services Authority’s head of enforcement, said her division should become part of the proposed Consumer Protection and Markets Agency when the current regulator is abolished.
The U.K. Financial Services Authority couldn’t have done more to prevent the 2008 financial crisis, Hector Sants, the regulator’s chief executive officer, said in what is likely to be the agency’s final annual report.
Charles O. “Chuck” Prince and Robert Rubin were among Citigroup Inc. officials who knew 2007 losses were mounting on mortgage assets that U.S. regulators have faulted the bank for not disclosing, a court filing shows.