• Regulation/Compliance News

      • Federal Reserve Chairman Ben Bernanke said on Thursday the U.S. central bank was ready to shield the economy if financial troubles mount, but offered few hints that further monetary stimulus was imminent.
      • Oracle Corp violated a clear contract with Hewlett-Packard Co when it decided it would no longer make new versions of its database software compatible with HP's Itanium-based servers, a lawyer for HP said in court.
      • Lawyers for Hewlett-Packard Co and Oracle Corp will face off in court on Monday for opening statements in a bitter lawsuit over Oracle's decision to end support for HP's Itanium-based servers.
      • U.S. regulators are looking at so-called zombie funds where money managers continue to get paid from investors even though the fund is essentially inactive, a top Securities and Exchange Commission official said on Sunday.
      • The European Central Bank is expected to hold its nerve and leave interest rates at 1.0 percent when it meets on Wednesday, as it presses political leaders to come up with a solution to the euro zone's raging debt crisis and avoid a breakup of the currency.
      • U.S. bank regulators are holding daily, high-level calls to try to understand how a seemingly low-risk unit at JPMorgan was able to amass a $2 billion trading loss, but there are no immediate plans to revamp how the nation's largest banks are supervised, according to a source familiar with the matter.
      • JPMorgan Chase and Co Chief Executive Officer Jamie Dimon will testify before the U.S. Senate Banking Committee on June 13 to discuss the bank's recent trading losses, the committee said on Thursday.
      • The U.S. banking industry for the first quarter reported its highest quarterly earnings since the first half of 2007, but there remain signs that the industry is having trouble fully recovering from the financial crisis, according to data released on Thursday by the Federal Deposit Insurance Corp.
      • The U.S. Securities and Exchange Commission will look into the "appropriateness and completeness" of JPMorgan Chase & Co's financial reporting, SE C Chairman Mary Schapiro told the Senate Banking Committee on Tuesday.
      • Spanish bank bad loans rose in March to their highest in 18 years, figures from the Bank of Spain showed on Friday, underscoring the problems facing the government as it attempts to clean up the sector and get its economy back on track.
      • JPMorgan Chase & Co Chief Executive Jamie Dimon will be invited to testify before Congress over the recent trading losses announced by the bank, U.S. Senate Banking Committee Chairman Tim Johnson said in a statement on Thursday.