Regulation

Majority Leader Eric Cantor's stunning defeat in Virginia's Republican primary Tuesday evening could usher in a new political era for the House — one that's likely to leave its imprint on the banking industry.

The U.S. IRS issued a ruling yesterday clearing the way for institutional investors to seek changes to incentive fees assessed by hedge funds, which may make it cheaper for them to invest in such offerings.

The U.S. Supreme Court turned away a Wells Fargo unit’s bid for as much as $148 million in tax refunds, leaving intact an Internal Revenue Service victory in a corporate tax-shelter case.

Credit Suisse Group AG, Switzerland’s second-biggest bank, is considering selling additional stakes in an electronic interest-rates trading unit it set up last year, according to a person briefed on the plan.

The battle over a likely criminal plea and fine against French-based BNP Paribas is raising fresh questions not just about "too big to jail," but about the efficacy of cross-border resolution plans for systemically important institutions.

FINRA slapped the investment banks with $1 million each in fines for submitting incorrect data on trade-related transactions.

Kweku Adoboli, the former UBS AG trader who caused a $2.3 billion loss through unauthorized trading, is trying again to get permission to overturn his conviction and seven-year sentence.

A report released by the chair of the Senate Budget Committee argues that tax reform should raise revenue by cutting tax expenditures that mostly benefit the wealthy.

The Labor Department is one regulator that hasn't immediately fallen into line to give Credit Suisse Group a pass following its May 19 guilty plea for helping Americans evade taxes.

If the relationship is confidential, disclosing even public information about clients is a no-no.