House Committee Votes to Block SIFI Designations
The two bills would effectively shutter the FSOC for a year, but analysts give them little chance of becoming law.
El-Erian: How to Ease Threat to Global Stocks From Ukraine Crisis
Mohamed El-Erian, chief economic advisor to Allianz, lists five possible developments in Ukraine that would reassure global investors.
SEC, FINRA Enforcement: Muni Firm Fined Over Sports Ticket Gifting
Meanwhile, FINRA censured and fined Wells Fargo Advisors over undetected unauthorized fund transfers, and the SEC froze assets in an oil and gas scheme.
Prudential Loses Appeal, Is Designated a SIFI by FSOC
Under the Dodd-Frank Act, Prudential is entitled to bring an action within 30 days in federal court to have the final determination rescinded.
Roubini and Bremmer Warn of ‘New Abnormal’
Is a new economic crisis that makes 2008 look mild in the offing? Nouriel Roubini and Ian Bremmer argue in a lengthy survey of world gloom that the possibility of such a crisis is ever present.
PIMCO’s El-Erian: Prepare for More Currency Confusion
"Within the last 24 hours, G-7 officials issued a currency statement, 'clarified' it and then criticized the clarification," the PIMCO CEO wrote on Thursday.
G-20 Boosts IMF Firewall, Pressures Germany
At the summit meeting of G-20 leaders in Los Cabos, Mexico, the focus was on strengthening the firewall of the IMF and pushing Germany to relent on pooled debt and increasing deficit spending.
IMF Seeks to Boost Capacity by $500 Billion
The International Monetary Fund intends to boost its lending capacity from the current level of $385 billon by asking members to contribute more funds, up to $600 billion, as it seeks to forestall the spread of the European debt crisis.
PIMCO’s Bill Gross: Can More Debt Solve Debt Crisis?
The bond king says stimulus policies are stifling growth; on same day, OECD pleads for structural reform.
G20 Meeting in China Highlights Conflicts Over Currency
Financial leaders of the Group of 20 top economies appeared to reach informal agreement Thursday on the need for China's currency to have a wider role in global finance, but not as a substitute for the U.S. dollar.