Regulation

In September, the Basel Committee on Banking Supervision announced new standards to raise required common equity ratios to 7% by 2019, and have regulators implement the new capital rules by 2013.

The central bank aims to send an encouraging sign to investors: the economy is stable and the giant banks are safe. It's a gamble with some downsides.

Industry groups are urging the Securities and Exchange Commission to reject a proposal from the Municipal Securities Rulemaking Board to provide it with an additional $17 million in revenue annually by nearly doubling the amount of transaction fees it collects from dealers.

Nearly half of the nation's chief financial officers and senior controllers polled by global CPA and business advisory firm Grant Thornton say that the U.S. should not adopt international Financial Reporting Standards until after U.S. GAAP and IFRS have converged to the point where the differences are inconsequential - a time frame of between five to seven years.

Though the Consumer Financial Protection Bureau has jurisdiction over a wide range of financial products, Elizabeth Warren is making credit cards her top priority.

Sen. Christopher Dodd said the work is far from done in terms of regulatory reform.

The Financial Industry Regulatory Authority said it fined Goldman, Sachs & Co. $650,000 for failing to disclose that two of its registered representatives had received Wells Notices, which indicate that investigations of operating practices are under way.

FINRA sanctioned the New York-based company with a $650,000 fine and ordered it to review its procedures and systems and document corrective measures

“We have just established a framework,” the Connecticut Democrat said at SIFMA's annual conference on Monday. “The rest is up to regulators and many in this room. It is the government’s duty to set the parameters and remain a vigilant watchdog.”

In another outgrowth of the May 6 Flash Crash, the Securities and Exchange Commission Monday approved rules that would effectively prohibit "stub quotes" in the U.S. equity markets.