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06:47 AM, Sep. 03, 2010
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    • More Top Stories

      Top Stories

      • IAs Gear Up For Pay-To-Play Rule
      • Senior Deutsche Bank, Morgan Stanley C/Os On The Move
    • More Brokerage

      Brokerage

      • New - CFTC Bars Fla. Man Over Alleged Fraud
      • New - Energy Group: Hold Off On FCM Reforms
    • More Investment Management

      Investment Management

      • New - Stadion CCO: Don’t Forget Alts!
      • GC Warns Of ADV Data-Hunters
    • More Europe & Asia

      Europe & Asia

      • Groups Oppose Systemic Internalizers For Derivatives
      • Trade Groups Spurn Single OTC Reporting Plan
    • More Corporate Finance

      Corporate Finance

      • Senior SEC Corp Fin Official To Leave
      • Deloitte Hires Ex-FinCEN Official
    • More Money Laundering

      Money Laundering

      • Canada Regulator Issues First AML Fines
      • Singapore Government Proposes New AML Law
    • Previously in Compliance Reporter

      • Industry Weighs In With ABS Reform Concerns
      • Reforms Prompt Morgan Stanley Shake-Up

        Morgan Stanley is closing in on a deal to give up control of in-house hedge fund firm FrontPoint Partners, according to people familiar with the matter. The change would be one of the firm’s first high-profile overhauls amid new management and financial regulation. Meanwhile, Goldman Sachs is trying to decide what to do with its two large proprietary trading desks, according to a person familiar with the matter. A Goldman spokesman declined to comment. (Wall Street Journal)

      • SEC Likely To Approve Proxy Rules

        The Securities and Exchange Commission is expected to make final a proxy access rule allowing large shareholders to put their own nominees for director posts alongside the company's nominees, according to people familiar with the matter. The SEC is expected to pass the rule by three votes to two, with the two Republican commissioners dissenting, these people said. A public meeting is scheduled for Aug. 25. (Wall Street Journal)

      • HSBC Unit Faces AML Probe

        HSBC said in a securities filing that its U.S. division was under investigation for possible violations of anti-money laundering and bank secrecy rules. HSBC USA said it had received grand jury subpoenas and other requests for information from the U.S. Attorney’s Office and the Department of Justice, adding that it was the subject of examinations by other government agencies, including the Office of the Comptroller of the Currency. HSBC said the inquiries were focusing on its global banknotes and foreign correspondent business for payments and settlements. “We take regulatory matters very seriously and are working closely with our regulators and actively resolving these issues,” HSBC said. (Financial Times)

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