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.
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US Securities and Exchange Commission (SEC) has slapped penalties on AIG's three affiliates for steering customers to high-fee products. AIG is also offloading its brokerage unit owing to stringent norms. AIG has agreed to pay $9.5 million for settling the regulator's claims.
China’s ruling party decided to replace the country’s chairman of the securities regulator, Xiao Gang, with former central banker Liu Shiyu. The regulator has taken the blame for failing to stabilize the market turbulence in the country over the year.
Japan's auto recall enforcement division, whose 16 members work from a cramped office on the eighth floor of the transport ministry building in Tokyo, only found out about safety issues with Takata Corp air bags in late-2008 - more than three years after the company says it first learned of problems.
The U.S. auto safety regulator on Tuesday called on Japanese supplier Takata and five automakers to expand nationwide a regional recall of potentially deadly air bags, increasing pressure on the industry to act more swiftly in the growing scandal.
Because of the failure to maintain good manufacturing standards, the UK regulatory authorities have withdrawn Wockhardt's certification of good standing.
CFTC was close to a compromise on how the regulator's rules applied to foreign corporations dealing with banks in the US.
JP Morgan CEO issues warnings on capital hoarding.
