The U.S. securities and commodities regulatory agencies pushed the congress to increase their budget. They argued that more fund is needed to do their functions in the growing financial markets and technology in recent years.
A US appeal court has verdict on Wednesday upholding previous ruling by the District Judge regarding lifting injunction for Argentina in entering global capital market. The ruling allows the South American nation to enter the capital market just after 15 years. It appears as a great success for the incumbent Argentine President who has come to power with promise to settle the default debt status.
Deutsche Bank has primarily agreed settling lawsuit centering ‘Silver Fix’ scam on Wednesday. Under the agreement, the German bank will have to count monetary penalty while helping the plaintiff investors in suits with other banks. Both the agreed parties have declined to elaborate terms and conditions for this accord.
Medical marijuana will be legalized after Gov. Wolf signs the bill on Sunday after the 149-46 vote in favor of marijuana legalization. However, it will take about two years before sufferers of acute ailment can get advantage of the benefits because of the several processes including regulatory and growing process.
The largest coal miner in the US has sought protection under bankruptcy law on Wednesday ending speculations over its future. The filing has been acknowledged as the largest bankruptcy case by liabilities during this year. With this filing, a century old publicly traded company is going to shutting down its operations in the US.
The U.S. Congress has delayed work on Puerto Rico debt bill. Originally, the bill was scheduled to be the subject of hearing on Wednesday before receiving final amendments on Thursday. After that, it will be sent for debate on the House.
SEC has filed a lawsuit against former ConvergEx exec Basilly on Tuesday on the allegation of defrauding traders. Prior to that, ConvergEx has admitted wrongdoing through its several units and counted penalty of $150 million to the regulators. However, his lawyer claims innocence rejecting all allegations and cites that Bassily has acted as per ConvergEx approved business model.
As a response to China’s new anti-terror law, 25 tech companies in the country have signed a pledge to help the government combat online terror activities. Under the law, tech companies are required to decrypt information for Beijing and provide assistance to keep the internet from terror-related contents.
GAO suggested financial regulators to disclose more information on their crisis policy framework. While five large banks do not have enough plan to manage operation during crisis.
European privacy watchdogs is now assessing the Privacy Shield framework that would regulate the EU-U.S. relations in privacy protection. It’s likely that the EU watchdogs will ask for another review to be conducted in 2018, when a new a new EU data protection law comes into force.
The lender must pay settlement for its misconduct in selling securities backed by troubled mortgage in 2008. The agreement reached Monday.
The decision was announced on Tuesday. California administrative law judge recommended to approve acquisition of Time Warner Cable by Charter Communications with significant conditions.
Uber revealed that it has received too much data request from US law enforcement agencies and regulators. The company has provided information on its riders and drivers for most requests after reviewing its legal framework.
Ken Paxton, the Texan attorney general has been sued on Monday by the US regulators on accusation of playing role in a stock scam. In addition to the civil lawsuit, Paxton has also been sued with criminal charges for defrauding investors. The Texan Democrats as well as Republicans have called for his resignation.
Microsoft has became the first major U.S. tech company to endorse the Privacy Shield agreement between EU and the U.S. The company agreed to discuss the framework of data protection further with the EU officials soon.
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