Federal Governor Daniel Tarullo said regulators should put their attention not only on banks but on the shadow banking system as well. He said policy options for shadow banks needed to be reformulated to counter its risks.
Legal & Regulatory
Owner sues seller, media companies over misinterpretation of Houston Astros value
Drayton McLane Jr, Comcast and NBC Universal said that Jim Crane's claim that they cheated him out of the acquisition deal of US professional baseball team the Houston Astros was ludicrous.
Former Credit Suisse banker Serageldin gets 30 months
Kareem Serageldin, a former banker of Credit Suisse, was sentenced to 30 months in prison for his role in the scheme that inflated the prices of subprime mortgage bonds artificially at a time when housing and credit conditions were taking a turn for the worse.
Tesla CEO awaits for Feds to clear Model S in Fires
Tesla CEO Elon Musk is confident that the Model S vehicle would soon be cleared and deemed safe by federal investigators. He isn't expecting a recall and said Tesla engineers are not currently working on any fixes for the vehicles and has instead amended its warranty to cover fire loss in crashes.
Shareholders pressure AT&T, Verizon and other companies over NSA spying activities
AT&T, Verizon Communications, and even tech companies like Google, Microsoft and Yahoo had been pushing for the US government to allow them to publish surveillance orders to appease shareholders in light of the revelations by NSA whistleblower Edward Snowden.
Latest News
The European Commission is looking at the way container-shipping companies announce their price increases, saying it may be possible that they are colluding with each other to rig prices.
The US Department of Justice objected to four restructuring plans put forth by bankrupt LightSquared and its creditors. The objection will be discussed at a bankruptcy court hearing on December 10 in Manhattan.
Lavabit lawyers have submitted a reply in brief to the Feds in a case that will determine whether they will hand over their master encryption keys for its entire system to the government.
Stephen Cutler, the top lawyer for JPMorgan Chase, lashed out against government regulators in an industry conference at The Clearing House attended by both bankers and regulators.
The planned merger between Bally Technologies and SHFL Entertainment received recommendations for approval from the Gaming Control Board and the Nevada Gaming Commission without any questions.
The fate of the joint venture firm of Founder Securities and Credit Suisse have yet to be known after the former reveals its plans to sell its stake in the joint venture and merge with China Minzu Securities.
Investors who had opposed the initial public offering of the Empire State Building asked a Manhattan appeals court to rule a USD 100 per unit buyout provision in the IPO plan illegal.
Automattic, a Wordpress hosting company would be facing claims via its lawyer Paul Sieminski with regard to fraudulent uses of the Digital Millennium Copyright Act (DMCA).
With a high demand of patent agents and lawyers from mainland China, Hong Kong's quest to become the regional trading hub for intellectual property (IP), may soon be a reality as China remained the world's number one patent granter last year with 1.26 million approved applications.
