Keyword

Legal

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New post-trade rules proposed to remove barriers to cross-border trading

New post-trade rules proposed to remove barriers to cross-border trading

An advisory group has put forward recommendations for breaking down legal barriers to the cross-border holding and settlement of securities in the European Union, including proposals to enable issuers to choose which central securities depository they want to use.

22 August 2008

Nyse Euronext gears up for futures launch

Nyse Euronext gears up for futures launch

Transatlantic exchange Nyse Euronext is to launch a new US futures exchange in September after the Commodity and Futures Trading Commission (CFTC) approved its application to become a designated contract market (DCM).

22 August 2008

US judge lifts gag order over transit card hack

US judge lifts gag order over transit card hack

A US judge has lifted a gag order on three students from the Massachusetts Institute of Technology (MIT) who were banned from talking publicly about security flaws they discovered in Boston's automated transit system.

21 August 2008

Reserve Bank of Australia looks to halt PayPal rule

Reserve Bank of Australia looks to halt PayPal rule

The Reserve Bank of Australia (RBA) is looking to halt attempts by online auction house eBay to force sellers in the country to offer PayPal as a payments option on sales listings.

20 August 2008

Bats secures exchange status

Bats secures exchange status

Kansas-based ECN operator Bats Trading has received approval from the US Securities and Exchange Commission (SEC) to operate as a registered national securities exchange.

19 August 2008

Wells Fargo hit by data breach

Wells Fargo hit by data breach

US banking group Wells Fargo is notifying 7000 customers that hackers may have accessed their confidential personal data by illegally using its access codes.

12 August 2008

SEC launches AML site for mutual funds

SEC launches AML site for mutual funds

The Securities and Exchange Commission (SEC) has unveiled an online one-stop reference service to help mutual funds meet anti-money laundering (AML) regulations.

08 August 2008

US authorities bust card hacking gang in biggest ever ID fraud case

US authorities bust card hacking gang in biggest ever ID fraud case

US authorities have indicted an international criminal gang thought to be responsible for the theft and sale of over 40 million credit and debit card numbers that were hacked from the computer systems of nine major US retailers, including TJX.

06 August 2008

MasterCard posts Q2 loss on American Express settlement

MasterCard posts Q2 loss on American Express settlement

Shares in MasterCard slumped after the card network posted a $747 million loss for the second quarter due to a $1 billion charge relating to its antitrust settlement with American Express.

31 July 2008

Thomson Reuters loses FaceTime IM technology suit

Thomson Reuters loses FaceTime IM technology suit

Thomson Reuters must remove technology developed by FaceTime Communications from its instant messaging (IM) service following a legal ruling over a late licensing payment.

30 July 2008

UK banks hit by record fraud levels

UK banks hit by record fraud levels

UK banks have been hit by record levels of fraud over the last six months and the situation is likely to get worse as the full impact of the credit crunch unfolds, according to accountancy firm KPMG.

29 July 2008

Warning over iPhone phishing vulnerability

Warning over iPhone phishing vulnerability

A security expert is warning of a flaw in the iPhone's e-mail application and Safari Web browser that could leave users open to phishing attacks.

25 July 2008

Apcims challenges FSA on data security and MiFID

Apcims challenges FSA on data security and MiFID

The UK's Association of Private Client Investment Managers and Stockbrokers (Apcims) is using the Financial Services Authority's (FSA) AGM to raise concerns about changes to existing data security measures and about the management of post-trade data following the implementation of MiFID.

24 July 2008

Indian banks told to halt m-payment schemes

Indian banks told to halt m-payment schemes

The Reserve Bank of India (RBI) has called on the country's financial institutions to halt mobile payment services until it has issued operative guidelines.

23 July 2008

Merchants win collective bargaining powers over US interchange fees

Merchants win collective bargaining powers over US interchange fees

The US House Judiciary Committee has voted 19-16 in favour of a bitterly contested bill that will allow US merchants to engage in collective bargaining over the interchange fees charged on credit card payments.

17 July 2008

Teenage hacker discharged; may be offered police job

Teenage hacker discharged; may be offered police job

A teenage hacker from New Zealand, accused of designing software to steal millions of dollars from bank accounts, has been discharged without conviction and may be offered a job fighting cybercrime by police.

16 July 2008

HSBC clerk gets nine years for attempted £72m fraud

HSBC clerk gets nine years for attempted £72m fraud

A former HSBC clerk who tried to steal £72 million from the bank in a massive electronic fraud has been sentenced to nine years in jail.

09 July 2008

Liquidnet to raise $500m in IPO

Liquidnet to raise $500m in IPO

US electronic trading network Liquidnet has filed for a $500 million initial public offering (IPO) with the US Securities and Exchange Commission (SEC).

02 July 2008

G&D halts banknote exports to Zimbabwe

G&D halts banknote exports to Zimbabwe

Munich-based Giesecke & Devrient (G&D) has stopped supplying banknote paper to the Reserve Bank of Zimbabwe following pressure from the German government for it to cease business with Robert Mugabe's regime.

02 July 2008

EuroCCP claims lowest clearing costs in Europe

EuroCCP claims lowest clearing costs in Europe

If European firms used the EuroCCP platform to clear all trades, the industry could slash costs and save around EUR350 million a year, claims the DTCC subsidiary.

01 July 2008