Michelle Price

Senior US market watchdog official exits to join dealmaking fintech Finalis

The U.S. Securities and Exchange Commission told UBS Group [RIC:RIC:UBSAG.UL] on Wednesday ​that it would not object to certain ‌securities transactions the bank may have to undertake if directed to do so by the ​Swiss regulator to ensure the bank's ​orderly resolution.

A U.S. jury's fraud conviction of prominent investor Andrew Left this week could rewrite the playbook for activist short sellers, raising fresh questions about the line ​between legitimate market activism and stock manipulation.

A U.S. jury found prominent investor Andrew Left guilty of securities fraud ‌on Monday, the Justice Department said, in a blow to a divisive cohort of short sellers who have for years goaded public companies in the U.S. and overseas with allegations of fraud and mismanagement.

U.S. banks say they are largely in the dark about an expected White House order requiring them to collect data on their ​customers' citizenship or immigration status, a directive senior industry executives warn would be costly and disruptive.

The U.S. Federal Reserve's vice chair for supervision, Michelle Bowman, has told big bank executives that she does not ‌expect the industry to stage another aggressive pushback in a bid to win further capital relief, according to three people with knowledge of the communications.

The global financial system has so far absorbed the economic shock caused by the ​Iran war, partly thanks to post-2008 crisis ‌reforms, but rising funding costs may exacerbate growing stress in other parts of the system, the chair of ​the Financial Stability Board warned the G20 ​on Monday.

The U.S. financial services ​industry is on heightened alert for potential cyberattacks amid the unfolding U.S. war in Iran, with firms stepping ‌up monitoring for threats that often rise during periods of geopolitical conflict, said executives and analysts.

Republican Caroline Pham, named acting chair on Monday of the U.S. Commodity Futures Trading Commission by newly installed President Donald Trump, pledged to work constructively with all stakeholders.

Negotiators reached a phased deal on Wednesday to end the war in Gaza between Israel and Hamas, the U.S. and Qatar said, after 15 months of bloodshed that has killed tens of thousands of Palestinians and inflamed the Middle East.