News Archive from January 29, 2013

ICE's CEO Has Fielded Calls About Selling EuronextJanuary 29, 2013ICE has received inquiries from rivals interested in buying NYSE Euronext's European stock exchanges once ICE completes its purchase of the New York-based exchange operator.
US Treasury Allowed Excessive Pay at TARP FirmsJanuary 29, 2013The Treasury Department failed to curb executive pay last year for the second year running at companies rescued by the government.
Peregrine Financial's ex-CEO's ex-Wife Sued Over Divorce MoneyJanuary 28, 2013Some of the more than $100 million Peregrine Financial's former chief executive stole from his brokerage's clients went to pay for his divorce settlement, the trustee of the now-bankrupt brokerage said in a lawsuit late Friday against the former wife.
When Wall Street Meets Antitrust EnforcersJanuary 25, 2013Antitrust enforcers are increasingly scrutinizing the world's major banks.
Whitman Capital Founder Gets Two Years for Insider TradesJanuary 25, 2013Hedge fund manager Doug Whitman was sentenced to two years in prison after he became the first defendant in a broad U.S. crackdown on insider trading to take the stand to convince jurors of his innocence.
Financial Industry Is Massively Underprepared for OTC RegulationJanuary 24, 2013Meanwhile, 95 percent of firms said they are already trading swaps or other OTC derivatives.
Banks Try to Put Past Sins Behind Them at DavosJanuary 24, 2013Leaders of the world's largest banks have gone some way to persuading investors that their industry's near-death experience is over, even though the public still don't trust them.
Obama to Tap Former Federal Prosecutor to Head SECJanuary 24, 2013President Barack Obama will nominate former federal prosecutor Mary Jo White to head the SEC.
The Great Rotation: A Flight to Equities in 2013?January 24, 2013One of the big investment shifts of our day may be at hand - regardless of how global markets actually perform this year.
Peregrine Financial Fraud Loss Exceeds $200 MlnJanuary 23, 2013Peregrine Financial Group's former chief executive embezzled more than $215 million from customers of his now-defunct futures brokerage, U.S. prosecutors said in court documents filed on Tuesday.
Stanford ex-CFO Davis Gets 5-Year Prison SentenceJanuary 23, 2013James Davis, the government's top witness in convicted swindler Allen Stanford's fraud trial, was sentenced to 5 years in prison for his role in a $7 billion Ponzi scheme.
Ex-U.S. Attorney White Eyed for Top SEC PostJanuary 22, 2013Mary Jo White, the former U.S. attorney for the Southern District of New York, is being considered as a candidate to head up the U.S. Securities and Exchange Commission.
Geithner Allegations Beg Fed ReformJanuary 22, 2013Allegations that Timothy Geithner, then head of the New York Federal Reserve, may have told banks ahead of time about a surprise policy move in 2007 underscores the pressing case for reform to safeguard the integrity and independence of the central bank.
New Head of SEC: Cross-Border Swaps Plan At Top Of AgendaJanuary 18, 2013The new head of the U.S. Securities and Exchange Commission unveiled some of her top agenda items on Friday, saying the agency will focus how to apply new swaps rules overseas and capital-raising reforms.
Morgan Stanley Pay Ratio in Institutional Securities DropsJanuary 18, 2013Morgan Stanley set aside 44 percent of adjusted revenue in its institutional securities business for compensation last year, down from 53 percent in 2011, Chief Financial Officer Ruth Porat said in an interview on Friday.
Libor Probe May Further Shrink RBS Investment BankJanuary 18, 2013Royal Bank of Scotland will face pressure to further shrink its investment bank should an investigation into interest rate rigging show cultural failings persist in the business, political and industry sources have said.
E*Trade Names Former Barclays Exec Idzik as CEOJanuary 18, 2013E*Trade Financial Corp, the online brokerage firm that has been struggling to overcome years of lending losses, appointed Paul Idzik as its new chief executive on Thursday.
As SEC Pushes for Hard Drives, Defense Lawyers BalkJanuary 17, 2013The SEC has become more aggressive in seeking full hard drives from the companies and individuals it investigates, startling defense lawyers.
Federal Reserve's Fisher: Reorganize Banks That Are 'Too Big To Fail'January 17, 2013Regulators should reorganize the country's largest banks to protect against the risk of institutions that are "too big to fail" and that would saddle ordinary Americans with the cost of another bailout.
Goldman Sachs Executives Agonized Over Staff Cuts as Profits SufferedJanuary 17, 2013Top executives at Goldman Sachs have been considering deep cuts to staffing levels and pay for at least two years, but feared too many layoffs would leave the firm unprepared.
Open Compute Project Releases Motherboard Tailored for Financial Services FirmsJanuary 16, 2013Financial services organizations could potentially reduce OPEX with a standardized, open source server motherboard specification that can be used for a variety of needs, such as HPC or storage.
BofA Capital Markets Co-Head to Lead Commercial BankingJanuary 16, 2013Bank of America has named capital markets co-head Alastair Borthwick as its head of commercial banking, in a shuffling of veteran executives.
JPMorgan CEO Jamie Dimon's Bonus Slashed on 'Whale' TradeJanuary 16, 2013JPMorgan Chase's board of directors cut Chief Executive Jamie Dimon's annual bonus in half.
Direct Edge to Seek Brazil Exchange License in 'Weeks'January 16, 2013Direct Edge Holdings plans to apply for a license to operate a Brazilian exchange in "a matter of weeks."
SEC Settlements Reach Highest Level Since 2007January 15, 2013U.S. securities regulators reached 714 settlements with defendants in civil cases in the 2012 fiscal year - the highest number since 2007, a report released on Monday showed.

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