03/20/2018
Broker Charged With Repeatedly Putting Customer Assets At Risk
It requires broker-dealers to maintain physical possession or control of customers’ fully paid and excess margin securities.
Legal, Regulation & Compliance
03/19/2018
G20 urged to adopt common regulations for cryptocurrencies
It is understood discussions on cryptocurrencies will take place across both days between finance officials from G20 members.
03/18/2018
Tax Challenges Arising from Digitalisation: More than 110 countries agree to work towards a consensus-based solution
The members of the OECD/G20 Inclusive Framework on BEPS will work towards a consensus-based solution by 2020, as set out in their Interim Report on the Tax Challenges Arising from Digitalisation released today.
03/18/2018
Fed eyes lift in pace of rate rises at Jay Powell’s first meeting
Analysts expect bullish statement amid hints of four increases in 2018
03/16/2018
New York fund manager pleads guilty to Ponzi scheme charges
In fact, they said, he lost or spent all but about $27,000 of the $21.8 million he told investors the fund had.
03/15/2018
Financial crisis rules for banks eased by US Senate
Supporters of the 2010 act say it has made the financial system safer - forcing large financial institutions to hold more money to use in the event of a financial shock, increasing protections for consumers, and improving stress tests.
03/15/2018
Credit Suisse Sued by Investor Over Volatility Note That Crashed
Chahal’s complaint seeks class-action status on behalf of other buyers.
03/15/2018
Former Equifax Executive Charged With Insider Trading
According to the SEC’s complaint, Jun Ying, who was next in line to be the company’s global CIO
03/15/2018
Ex-Chadbourne partners reach $3.1 mln settlement on gender-bias claims
The deal requires court approval.
03/15/2018
Senate passes bill easing Dodd-Frank rules for banks
Lawmakers are intent on loosening the restraints on them in hopes that it will boost lending and the economy.
03/14/2018
Hedge funds warn of an upcoming flashpoint with China as trade concerns grow
The U.S. Trade Representative's office is due to rule on an investigation into China's policies.
03/14/2018
Former billionaire tech entrepreneur charged with 'massive fraud' by US financial authorities
Holmes Stripped of Control of Company for Defrauding Investors
03/13/2018
US insurance group sues Old Mutual
The JSE-listed insurance group said the case was "in relation to pre-existing [London] head office legacy items relating to previously disposed of US assets".
03/12/2018
Tennessee: New Legislation Prevents Crypto Retirement Funds While Legalizing Blockchain
House Bill 2093 is set to move to the Finance, Ways & Means Subcommittee on March 14.
03/12/2018
Citi Ordered to Pay $4 Million to Financial Advisor
Many of Gherardi’s clients were Latin American, and Citi slapped a moratorium on new non-U.S. accounts in 2015.
03/12/2018
Florida Businessman Gets 25 Years in Jail in $179 Million Loan Fraud Case
Nikesh Patel was also accused of hatching another loan fraud scheme, worth $19 million, while he was out on bond.
03/09/2018
SEC Bars Hedge Fund Manager Charged in Asset Management Mismarking Scheme
For an 18-month period, Lumiere and Plaford used sham broker quotes to mismark as many as 28 securities per month
03/09/2018
Massachusetts's securities regulator investigates Wells Fargo Advisors
Wells Fargo Advisors spokeswoman Shea Leordeanu said in an emailed statement that the firm has made “significant progress in our work to identify and fix any issues, make things right and build a better, stronger company.”
03/09/2018
Court confirms CFTC jurisdiction over cryptocurrency fraud and that virtual currencies are commodities
Self-regulatory organizations, or SROs, such as stock exchanges, that can help self-police virtual currency markets.
03/09/2018
SEC Fines Merrill for Unregistered Securities Sales
The SEC’s investigation of Merrill Lynch was conducted by Helaine Schwartz