The U.S. Securities and Exchange Commission is investigating whether currency traders at the world’s biggest banks distorted prices for options and exchange- traded funds by rigging benchmark foreign-exchange rates, according to two people with knowledge of the matter.
A 64-year-old physicist, identified by Newsweek magazine as Bitcoin’s creator, was chased by reporters through Los Angeles and denied any role in the digital currency, saying he first heard of it three weeks ago.
The Bitcoin world reacted with a mixture of acceptance and resignation to a Newsweek magazine report that the creator of the digital currency is a 64-year-old Japanese-American man living in the Los Angeles area.
Timothy Massad, the Treasury Department official named to head the U.S. Commodity Futures Trading Commission, said he would work to approve speculation limits in oil, natural gas and other commodities that have been resisted by banks and parts of the energy industry.
President Barack Obama’s fiscal-year 2015 budget projects the Federal Housing Administration won’t require a taxpayer subsidy this year as the agency’s efforts to shore up its finances have offset losses from defaulted loans.
The U.S. Securities and Exchange Commission should ensure that new rules intended to reduce systemic risk don’t harm broker-dealers by treating them like banks, Commissioner Daniel M. Gallagher said today.
Bruce Berkowitz, the money manager battling the U.S. government over the future of Fannie Mae and Freddie Mac, is calling on the boards of the mortgage-finance giants to build capital instead of turning over their profits to the Treasury now that they’ve returned to profitability.
President Barack Obama is set to seek a $280 million budget for the U.S. Commodity Futures Trading Commission that, while more than the commission currently gets, is lower than his previous request for an agency that has said it lacks the resources to fully oversee markets, according to people with knowledge of the matter.