By Simon Johnson
Published February 02 2012 Economix/New York Times
The drafters of the Dodd-Frank financial reform law got an important thing right. Despite fierce pushback from the banks — and lackluster support from the White House at critical moments — the legislators communicated a key new intent: megabanks must be able to fail, and the Federal Deposit Insurance Corporation should be in charge of that liquidation process.
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By Edward Wyatt
Published February 03 2012 New York Times
Even as the Securities and Exchange Commission has stepped up its investigations of Wall Street in the last decade, the agency has repeatedly allowed the biggest firms to avoid punishments specifically meant to apply to fraud cases.
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By Alexandra Alper
Published February 02 2012 Reuters
As pro-business groups clamor to convince regulators to overhaul their draft of the controversial Volcker rule, fault lines are emerging within the opposition over just what a revamped draft should look like.
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By Cheyenne Hopkins and Ian Katz
Published February 03 2012 Bloomberg
U.S. Treasury Secretary Timothy F. Geithner criticized opponents of new financial industry regulations and said the first non-banks deemed systemically risky will be named this year.
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By Jeremy Grant
Published February 02 2012 Financial Times
It is still “too early” to know whether US, European and other regions’ regulations designed to meet G20 commitments are harmonised or where gaps might exist, US regulators admitted on Thursday.
By Serena Ng
Published February 02 2012 Wall Street Journal
A push by Wall Street banks to devise a more-transparent way to bet on bond defaults has stalled amid uncertainty over new regulations and difficulties in devising the product. The effort, which began in mid-2010, was designed in part to meet regulators' calls for changes in the derivatives market and to generate a new source of revenue for banks that have seen their trading profits dwindle since the financial crisis.
By Jeffrey Sparshott and Victoria McGrane
Published February 02 2012 Wall Street Journal
Regulators have notified some payment and clearing firms that they face a review to determine whether their failure could pose a risk to the economy.
By Tom Osborn
Published February 01 2012 Financial News
The chief executive of London-based interdealer broker Icap has said the delay in implementing new rules governing electronic swap trading is holding back volumes on the firm’s new electronic swap platform, as the deadline for compliance with e-trading requirements from US derivatives legislation is delayed until 2013.
By Danielle Myles
Published January 31 2012 IFLR
US regulators have promised a risk retenton release in Q2, but industry insiders expect a re-proposal not a final rule.
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By Jeff Black and Jana Randow
Published February 1 2012 Bloomberg
The European Central Bank is likely to refuse to show its hand on how it will help cut Greece’s debt burden until investors and the government have agreed to a deal, said economists from ING Group to Deutsche Bank.
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