Regulation

Bloomberg -- Aides to President Barack Obama and Senate Majority Leader Harry Reid discussed the process of choosing the next U.S. Federal Reserve chairman in the wake of a letter from some chamber Democrats touting one contender, according to a person familiar with the conversations.

In order to tap into fresh sources of capital, non-U.S. fund managers are looking to the U.S. to distribute investment strategies. This raises many issues: choosing the right vehicles for the job, regulatory considerations, and more.

The letter, signed last month by 19 Senate Democrats and one independent who caucuses with the party, urged Obama to nominate Fed Vice Chairman Janet Yellen to succeed Ben S. Bernanke.

Eileen Rominger, former head of the Securities and Exchange Commission’s Division of Investment Management, has decided get back to work after a year-long hiatus.

The rules the U.S. adopted last month make major changes — purifying what counts as capital, hiking the total amount required, slapping on a series of buffers to further insulate the largest banks and creating a global leverage ratio as a floor.

The organization is planning a new, broadly accessible online program now being developed in partnership with the University of Illinois.

The trade association representing credit unions believes that the Financial Accounting Standards Board’s recent proposal to redefine the meaning of a public business entity could open the door to more appropriate accounting standards for credit unions.

Investors are more concerned about improving the quality of financial disclosures rather than simply reducing the quantity of them, according to a new report from the CFA Institute, which takes aim at some recently proposed disclosure reforms that seek to cut down disclosure overload.

Bloomberg -- UBS AG, Switzerland’s largest bank, agreed to pay $120 million to settle claims by investors in Lehman Brothers Holdings Inc. securities in a lawsuit tied to the investment bank’s 2008 collapse.

UBS AG, Switzerland’s largest bank, agreed to pay $120 million to settle claims by investors in Lehman Brothers Holdings Inc. securities in a lawsuit tied to the investment bank’s 2008 collapse.