Chicago Finance News

CBOE weighs its regulatory role

Executive Chairman Bill Brodsky said the options exchange operator could decide eventually not to carry all of the duties it's shouldering today.

Citadel, others sue exchanges for improper charges

(Reuters) — A group of investment firms including Citadel Securities LLC sued the Chicago Board Options Exchange Inc. and four other exchanges yesterday for improper charges on millions of options trades over a seven-year period.

CME chairman takes credit for MF Global response

The exchange's refusal to reimburse MF Global customers was "the right thing to do," Terry Duffy tells shareholders.

Allstate to get big test in Oklahoma

Tornado damage could provide the first look at how consumers respond to its new, less generous approach to insuring homes.

Updated 11:39 a.m.

Citadel's Griffin jabs at Emanuel, Democrats over fiscal, economic woes

The CEO of Chicago's biggest hedge fund, left, castigated the mayor, right, and Chicago and Illinois politicians for not making “tough choices,” blaming Democrats for not fixing the pension, education and crime problems.

CBOE director candidate withdraws

CBOE Holdings Inc., the Chicago-based owner of the largest U.S. options exchange, said a controversial former Internal Revenue Service commissioner has withdrawn his candidacy for election to the company's board.

MF Global trustee liquidates broker's CME memberships

(Reuters) — The trustee liquidating MF Global has sold a collection of the bankrupt broker's CME Group memberships for amounts below recent selling prices, according to a list of transactions published by the exchange on Monday.

Seyfarth Shaw, ex-partner sued by former tax-shelter clients

The Chicago law firm is among the defendants accused of promoting what the government later disallowed.

BMO Harris hit for weak controls on money laundering

Federal and state banking regulators have found problems with BMO Harris Bank's compliance with standards aimed at identifying suspicious transactions and preventing money laundering.

Updated 12:06 p.m.

BMO Harris settles EEOC disability suit for $400,000

The bank agreed to a $400,000 settlement with 14 former employees under a recent consent decree in federal court.

Fifth Third expects Chicago to be top market

Don't count Fifth Third Bank among the out-of-town banks reducing their footprint in Chicago.

Allstate logs $216M in catastrophe losses in April

(AP) — Severe weather led to $216 million in catastrophe losses in April for Allstate Corp., the insurer said Thursday.

CFTC unveils final rules for swaps trading

(Reuters) — The top U.S. derivatives regulator unveiled rules for swaps trading that could break open Wall Street's dominance of the $630 trillion market, yet contain important concessions to the industry.

Probe ordered of Fasseas-owned banks' payments to family

State and federal regulators are requiring the deeply troubled banks owned by Peter and Paula Fasseas to commission an independent probe of expense payments to Fasseas family members.

Northwest Indiana bank with Chicago presence sold

The parent of Munster, Ind.-based Citizens Financial Bank, which has eight south suburban branches, has agreed to sell to Muncie, Ind.-based First Merchants Corp. in a deal valued at $114.7 million.

Updated

CBOE keeps index franchise as U.S. justices stay out of dispute

(Reuters) — CBOE Holdings won a long-running legal battle to prevent rival International Securities Exchange from listing options on two key U.S. stock-market indexes, after the U.S. Supreme Court on Monday declined to consider their dispute.

GTCR unloads 20% of PrivateBancorp stake

The private-equity firm was the leading investor in the 2007 recapitalization of the bank that transformed it into a leading business lender in town.

Updated

Bernanke in Chicago: Fed increasing financial monitoring

(AP) — The Federal Reserve has broadened its oversight beyond banks and now monitors a wide-range of financial institutions that could hasten another financial crisis, Chairman Ben Bernanke said Friday.

Peak6 raises $1 billion for new hedge fund

Peak6 Investments LP's asset management unit has raised $1 billion for a new hedge fund, one of only two managed by the Chicago firm.

Allscripts slumps as 1Q results disappoint

(AP) — Allscripts Healthcare Solutions Inc. said Thursday that it took a loss in the first quarter on reduced revenue and a spate of one-time charges.

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