Compliance and Regulatory News

Why is the Fed pumping money into the banking system?

The Compliance Exchange compliancex September 20, 2019

The Federal Reserve’s aim was to stabilise what is usually a calm part of the market. Interest rates in the so-called “repo market” had shot up to 10% in some cases – although the cost of borrowing in that market more typically hovers around ...Read More

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Oracle Founder Larry Ellison Calls Uber and WeWork ‘Almost Worthless’

The Compliance Exchange compliancex September 20, 2019

Uber Technologies ’ stock has struggled since the company went public this year. And WeWork’s parent company has postponed a planned initial public offering, amid reports that it was slashing its valuation by at least half. Uber (ticker: UBER) sports a market valuation of more than $57 billion, ...Read More

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From Lauren Sanchez to wild superyacht parties – is Jeff Bezos having the best time of his life?

The Compliance Exchange compliancex September 20, 2019

Here’s an epic understatement: Jeff Bezos has had a busy year.The world’s richest man has continued to helm Amazon and invest in advancements like space exploration. But he may be less proud of the way his personal life has overshadowed his professional achievements.In 2019 Bezos’ ...Read More

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House Democrats ask if Trump interfered in DOJ automaker antitrust probe

The Compliance Exchange compliancex September 20, 2019

Two U.S. Democratic lawmakers on Thursday asked the White House to turn over documents that would show if President Donald Trump interfered or directed a Justice Department antitrust probe of four automakers that struck voluntary agreements with California to reduce tailpipe emissions, according to ...Read More

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Alison Rose gets top job at RBS, first woman to lead major UK lender

The Compliance Exchange compliancex September 20, 2019

Royal Bank of Scotland (RBS.L) named Alison Rose as its new chief executive on Friday, becoming the first major British lender to appoint a woman to its top job. Rose, who was widely tipped to get the role at the state-backed lender, will succeed ...Read More

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Patrick Byrne sells his Overstock shares, but blames the SEC and ‘Deep State’

The Compliance Exchange compliancex September 20, 2019

Patrick Byrne’s dramatic exit from Overstock.com Inc. had a surprise second act Wednesday, as the former chief executive sold his large stake in the company and blamed the Securities and Exchange Commission, which he referred to as “the Deep State’s pets.” In an SEC ...Read More

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FBI raids MyPayrollHR owner’s home in $35M fraud probe

The Compliance Exchange compliancex September 20, 2019

FBI agents raided the upstate home of a payroll company owner embroiled in a potential $35 million fraud, the bureau said Tuesday. A squad of investigators arrived in a half-dozen vehicles and spent about an hour combing through ValueWise CEO Michael Mann’s luxury lakeside house ...Read More

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New York City Mayor Bill de Blasio drops 2020 bid

The Compliance Exchange compliancex September 20, 2019

De Blasio’s bid — launched in May — ultimately lasted just over four months and was largely mocked for most of its short life. New York City Mayor Bill de Blasio dropped out of the 2020 presidential race Friday, ending a long shot bid for ...Read More

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Business leaders wary of spending and hiring in current economy: survey

The Compliance Exchange compliancex September 20, 2019

Chief executives and chief financial officers are increasingly worrying about the economy, two separate surveys found. The CEO Economic Outlook Index, released by the Business Roundtable, found that plans for capital spending, hiring and sales expectations over the next six months “waned” this quarter, due ...Read More

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New revelations deepen scandal over Trump whistleblower complaint

The Compliance Exchange compliancex September 20, 2019

(CNN) — Washington’s newest scandal, over a whistleblower’s complaint about President Donald Trump, intensified Thursday amid revelations that the White House and Justice Department tried to keep it quiet. The affair, centering on Trump’s contacts with a leader of a mystery foreign nation — identified in ...Read More

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