Senate confirms top civil rights official at Justice DepartmentOctober 6th, 2009 Senate confirms civil rights official at JusticeWASHINGTON — The Senate voted 72-22 Tuesday to confirm Thomas Perez as the Justice Department's top civil rights official. Perez, who will lead the civil rights division, is the first senior Justice Department official to be confirmed since April.
CFTC chief urges Congress to impose broad oversight on financial derivativesSeptember 22nd, 2009 CFTC chief urges broad oversight of derivativesWASHINGTON — A key regulator on Tuesday urged Congress to go beyond an Obama administration proposal and impose comprehensive oversight on the sprawling, complex market for financial derivatives blamed for worsening the credit crisis last fall. The administration is seeking to increase the transparency of the $600 trillion global derivatives market and has proposed that big investment banks that trade derivatives be subject to requirements for holding capital reserves against risk.
SEC, CFTC chiefs urge Congress to impose broad oversight on financial derivativesSeptember 22nd, 2009 Key regulators urge broad oversight of derivativesWASHINGTON — Two key regulators on Tuesday urged Congress to go beyond an Obama administration proposal and impose comprehensive oversight on the sprawling, complex market for financial derivatives blamed for worsening the credit crisis last fall. The administration is seeking to increase the transparency of the $600 trillion global derivatives market and has proposed that big investment banks that trade derivatives be subject to requirements for holding capital reserves against risk.
Moody's: Drop in corporate default rates expected following peakSeptember 21st, 2009 Moody's: Drop in default rates expectedNEW YORK — Based on past economic trends, Moody's Investors Service on Monday forecast that the corporate default rate would drop rapidly after peaking at the end of this year. The rate is expected to hit 12.6 percent in December, then slide to 4.3 percent by August 2010, Moody's said.
Obama won't tell Justice Dept. to end interrogation probe of Bush administration practicesSeptember 20th, 2009 Obama: Justice OK to conduct interrogation reviewWASHINGTON — President Barack Obama says he has no plans to ask the Justice Department to end its criminal investigation into the harsh interrogations of suspected terrorists during the Bush administration. Seven former CIA directors have asked the president to do just that.
Justice Department opens internal probe of handling of Black Panthers voting caseSeptember 9th, 2009 Internal probe in handling of Phila. voting caseWASHINGTON — The Justice Department has opened an internal inquiry into its handling of a case of alleged voter intimidation by self-proclaimed Black Panthers in Philadelphia.
Regulator asks lawmakers to tighten legislation for derivatives oversight beyond Obama planAugust 20th, 2009 Regulator seeks tighter derivatives billWASHINGTON — A key federal regulator is asking lawmakers to tighten legislation imposing broad new oversight on derivatives by going beyond the Obama administration's proposal in several areas governing the complex financial instruments blamed for hastening the global economic crisis. Gary Gensler, chairman of the Commodity Futures Trading Commission, urged changing the measure to eliminate exemptions from new requirements for foreign-currency swaps and small firms dealing in derivatives, among other things.
2 key lawmakers announce agreement on guidelines for legislation to rein in derivativesJuly 31st, 2009 Lawmakers say have accord on derivatives oversightWASHINGTON — Two influential House lawmakers on Thursday announced an agreement on guidelines for legislation to impose broad new oversight on the financial instruments blamed for hastening the global economic crisis. They said the House could vote in September on a bill to regulate derivatives, legislation that is a crucial element of Congress' effort to overhaul the system of financial rules.
Markit says it is being investigated by US Justice Department over credit default swapsJuly 14th, 2009 Markit says being probed by US DoJLONDON — Trading information services company Markit Group Ltd., said Tuesday it is being investigated by the U.S. Justice Department in relation to the market for credit default swaps.
SEC, CFTC chiefs agree on derivatives oversight as Congress works to overhaul financial rulesJune 23rd, 2009 SEC, CFTC agree on derivatives oversightWASHINGTON — The heads of two federal agencies with financial oversight responsibilities have told Congress that their jurisdiction can be split over the instruments blamed for hastening the global economic crisis. The Securities and Exchange Commission, the government's primary markets watchdog, and the smaller Commodity Futures Trading Commission — which oversees the oversees the trading of oil, gas and other commodities — have battled in the past over regulatory turf and found separate supporters in Congress.
House panel divided on oversight for complex financial instruments; key lawmaker urges balanceJune 9th, 2009 House panel divided on new financial rulesWASHINGTON — Debate on new oversight for complex financial instruments moved to the House on Tuesday as lawmakers struggle to determine how tight the government reins on a massive global market should be. A key lawmaker said a balance must be struck in crafting a new regulatory system for derivatives, the mostly unsupervised instruments blamed for hastening the global financial crisis.
AP Source: American International Group agrees to sell HQ, adjacent building in New YorkJune 3rd, 2009 AP Source: AIG agrees to sell 2 NYC buildingsCHARLOTTE, N.C. — The embattled insurer American International Group Inc.
Treasury to detail plan to clamp down on credit default swaps, other derivativesMay 13th, 2009 Treasury to detail plan for credit default swapsWASHINGTON — Treasury Secretary Timothy Geithner will announce a plan on Wednesday to strengthen federal regulations governing over-the-counter derivatives, a class of financial instruments that includes the risky contracts that helped bring down AIG. Sen. Christopher Dodd, a Connecticut Democrat who chairs the Senate Banking Committee, says he has been told that the administration will "really tighten down" on them.
Treasury says it wants to clamp down on credit default swaps, privately traded derivativesMay 13th, 2009 Treasury wants more financial regulationsWASHINGTON — The Obama administration is asking Congress to extend its oversight of the financial system to include the shadowy market of derivatives, the kind of complex financial instruments that helped bring down the giant insurer AIG. In a draft two-page letter to congressional leaders, the Treasury Department says it wants to create a central electronic-based system that would track the buying and selling of derivatives.
SEC charges pair in first-ever insider trading tied to credit default swapsMay 5th, 2009 SEC charges pair with insider trading in swapsNEW YORK — The Securities and Exchange Commission on Tuesday charged a securities salesman and a portfolio manager with insider trading in the first such case involving credit default swaps. The SEC alleges that Jon-Paul Rorech, a salesman at Deutsche Bank Securities Inc., tipped off Renato Negrin, a former portfolio manager at hedge fund investment adviser Millennium Partners LP, about a possible change in terms of a bond being issued by VNU NV, a Dutch publishing company that owns Nielsen Media and other media businesses, in 2006.
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