The Federal Communications Commission is poised to adopt Internet traffic rules on Tuesday that would ban the blocking of lawful content, but allow high-speed Internet providers to manage their networks, senior agency officials said. Get the full story »
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CEO: OptionsXpress followed all dividend rules
OptionsXpress Holdings Inc.’s chief executive said the company followed all required procedures for a big special dividend to be paid under rules that confused many investors.
The Chicago brokerage’s shares dipped as much as 14 percent before the open last Tuesday as investors wrongly thought that holding shares through the previous day, the so-called “record” date of Dec. 13, would entitle them to the $4.50 per-share payout. Get the full story »
Fed seeks to cap debit-card fees at 12-cents a swipe
In a blow to the banking industry, U.S. Federal Reserve officials Thursday agreed to advance a proposal that would prevent banks from charging merchants “swipe fees” from debit cards that are higher than 12 cents per transaction.
“It’s going to be painful,” said Consumer Bankers Association President Richard Hunt. “If adopted, this will result in a significant reduction in revenue and efficiencies and have major negative implications for consumers.” Get the full story »
SEC extending ‘circuit breakers’ for 4 months
Federal regulators are extending, for four months, the curbs put in after the May 6 market plunge that briefly halt trading of some stocks that make big price swings. Get the full story »
Unilever bid for Alberto Culver could be reviewed
From Bloomberg | Unilever’s $3.7 billion takeover of Melrose Park-based Alberto Culver Co. may be reviewed by U.K. antitrust regulators, who said in a statement that they are looking at whether the deal could trigger “a relevant merger situation” and whether it was likely to reduce competition.
CFTC proposes long-awaited end user rule
The U.S. futures regulator on Thursday unveiled a long-awaited rule outlining exemptions for firms using swaps to hedge risk, but at the last minute postponed issuing a separate rule with guidelines for swap trading platforms.
Without much explanation, Gary Gensler, chairman of the Commodity Futures Trading Commission, said he was delaying until next week the agency’s proposals to make swap execution facilities, or SEFs, transparent. The delay further underscores the tight deadline the agency is under, and different views by the agency’s five commissioners as to what Congress intended. Get the full story »
CME more optimistic on CFTC position limits
The top U.S. futures exchanges expressed confidence that a revised plan to clamp down on commodities market speculation will not unduly burden the market.
The comments on Wednesday by the chief executives of IntercontinentalExchange and CME Group were more optimistic than in the past, when exchanges, banks and other market participants sharply criticized the U.S. Commodity Futures Trading Commission’s plan. Get the full story »
FCC exploring role in TV programming disputes
Federal regulators will explore whether they can do more to protect consumers from losing their television signals because of disputes over the fees that subscription-video providers pay broadcasters for their programming. Get the full story »
SEC proposes rules for swap dealers
U.S. regulators introduced proposals on Friday that will determine which companies will be forced to hold more cash in order to trade in the lucrative over-the-counter derivatives market. Get the full story »
Senate passes bill to boost food safety
The Senate passed the largest overhaul of the U.S. food safety system in decades on Tuesday, a response to massive recalls such as last summer’s recall of half a billion eggs in a salmonella outbreak.
The Senate voted 73-25 to pass the bill. The House of Representatives backed a different version in July 2009. With their post-election session due to end by mid-December, lawmakers have just weeks to resolve their differences and send legislation to President Barack Obama to sign into law. Get the full story »
Labor Dept. wants more target date disclosure
The Department of Labor on Monday proposed a rule that will require employers to provide more information to their employees about the role of “target date” mutual funds in retirement plans.
Target date funds are often included in employer-sponsored retirement plans, such as 401(k)s, as a default option if employees fail to actively pick their own investments. Get the full story »
US approves Simon Property’s buy of Prime Outlets
US antitrust regulators approved Simon Property Group’s purchase of Prime Outlets on Wednesday on condition that it sell an outlet center in Ohio and remove restrictions on some tenant leases in Chicago and Orlando. Get the full story »
Washington state bans caffeinated alcohol drinks
Seattle Times | Washington state’s Liquor Control Board on Wednesday banned of caffeinated alcohol drinks, the type of beverage that sickened nine Central Washington University students last month during an off-campus party.
Hilton agrees to make hotel rooms accessible, pay fine
Hilton Worldwide Inc. agreed to settle charges that it violated requirements that its hotels be accessible to people with disabilities and agreed to bring them into compliance, the Department of Justice said Tuesday.
The settlement covers about 900 hotels in the United States built after Jan. 26, 1993, including those owned as part of franchises, and Hilton will also pay a $50,000 civil penalty, the department said. Get the full story »
CFTC’s Sommers: Position limit rule likely for Dec.
The U.S. futures regulator is unlikely to unveil its new proposal to limit speculative positions until December, a top official of the Commodity Futures Trading Commission told Reuters on Wednesday. Get the full story »
