Regulation

The U.S. economy, while not poised to grow as rapidly as emerging nations and saddled with a $1.4 trillion a year deficit, has the fundamentals in place and “the resiliency and strength” to reclaim its position as the leading economy of the world, Treasury Secretary Timothy Geithner told attendees at the Investment Company Institute’s General Membership Meeting here Wednesday.

Marty Gruenberg, the No. 2 at the Federal Deposit Insurance Corp. is expected to be nominated shortly as the agency's chairman, according to several sources.

WASHINGTON - UBS Financial Services, Inc has agreed to pay $160 million to settle securities fraud and other charges with the Securities and Exchange Commission, Internal Revenue Service and 25 state attorneys general over alleged fraudulent bidding practices and kickbacks involving muni investment and financial contracts.

The head of the American Bankers Association on Tuesday quickly reneged on his endorsement of Elizabeth Warren as director for the Consumer Financial Protection Bureau.

The timing of such a nomination could not be better for the president, who is now flush with political capital after the death of Osama bin Laden.

Banks continued to ease lending standards over the first quarter due in part to increased competition and a less uncertain economic outlook, a Fed survey found Monday.

The Securities and Exchange Commission will revisit 12b-1 fees in July, potentially putting a cap of 25 basis points on them and renaming them to clearly indicate their use for marketing purposes, said SEC Commissioner Elisse Walter.

Emotions are mixed near the site of Sept. 11.

For the financial services industry, for Wall Street, the impact has special meaning.

With the deadline to register with the Securities and Exchange Commission less than three months away, consultants and other hedge fund experts are urging fund managers to get ready-and fast.