09/16/2015
FINRA Tracks and Banishes Bad Brokers
FINRA's sanctions announced Tuesday serve as a cautionary tale for firms who hire reps from high-risk firms.
Legal, Regulation & Compliance
09/16/2015
US State Bank Supervisors Publish Final Model Regulation
The organization, comprised of representatives from state-level banking regulatory bodies, released an initial draft version of its proposed digital currency regulations in December.
09/16/2015
Swiss private bank settles with US authorities over tax offenses
“Today’s agreement is yet another example of a foreign financial institution coming forward, acknowledging its criminal conduct, taking the necessary steps to resolve its criminal exposure, cooperating with the department’s ongoing inves
09/15/2015
FINRA Seeks to Narrow Reporting Gap
The waiting period was set up to give advisors the opportunity to comment on any reported disclosure events
09/15/2015
U.S. prosecutors in talks with second suspect tied to JPMorgan hack
Any plea secured in the case could mark a breakthrough for authorities investigating the hacking of JPMorgan
09/15/2015
Asset Managers Team Up to Develop Standards for Dark Pools
Dark pools are essential for today’s market structure,
09/14/2015
Countdown begins to Fed's decision on interest rates
Those looking to buy homes and cars wonder if they'll have to pay more on loans, while savers are watching for more interest on their accounts.
09/11/2015
Investor Control Doctrine Invalidates Tax Benefits of Private Placement Life Insurance Policy - Withers
The decision highlights that the inclusion of restrictive language in a variable life insurance policy contract which prohibits all communications between a policyowner and investment manager
09/10/2015
SEC Charges BDO and Five Partners in Connection With False and Misleading Audit Opinions
The Securities and Exchange Commission has charged national audit firm BDO USA with dismissing red flags and issuing false and misleading unqualified audit opinions about the financial statements of staffing services company General Employment Enterprises
09/10/2015
SEC Charges 'Financial Myth Bustin' Host With Fraud
The SEC alleges that Bennett used her radio program, “Financial Myth Busters,” to falsely claim that her clients’ returns were in the top one percent of firms worldwide.
09/10/2015
Dewey Executives Innocent of Fraud in Law Firm's Collapse, Defense Says
The most serious charge carries up to 25 years in prison.
09/10/2015
Debevoise Advises Sun Life Financial in Acquisition of U.S. Employee Benefits Business of Assurant
Celebrating 150 years in 2015, Sun Life Financial is a leading international financial services organization
09/10/2015
Nomura Traders Plead Not Guilty to Deceiving Bond Customers
Each defendant was released on $1 million bond and ordered to surrender his passport.
09/09/2015
FXCM Ordered to Pay More Than $843,000 Over Revelation Forex
The Order also finds that FXCM failed to respond fully to a CFTC document request
09/09/2015
Massachusetts Regulator Investigates BNY Mellon Fund Pricing Snafu
But the fallout that seems only to affect large financial institutions can hit the average investor looking at his and her retirement money.
09/09/2015
CFTC probes JPMorgan for alleged client steering - WSJ
CFTC is investigating why large proportions of Highbridge's assets are coming from J.P. Morgan's private-bank assets and if this factor helped Highbridge stabilize during the financial crisis
09/08/2015
Credit Suisse challenges court order to pay US$288m in mortage suit
Swiss banking giant Credit Suisse on Monday challenged a court ruling ordering it to pay a US hedge fund US$287.5 million (€257.6 million) in a case linked to the burst housing bubble.
09/07/2015
Reserves keep dropping as payment looms
Central Bank coffers are suffering effect of high demand for dollars from savers, importers
09/05/2015
Geneva wealth managers pay defrauded investors to settle Madoff case
Prosecutors told a Geneva court at the time that the directors had enriched themselves on management fees, finder fees and commissions paid for fictitious returns that were never verified.
09/05/2015
SEC Charges Hedge Fund Adviser with Taking Unearned Management Fees
Two Accountants Charged With Performing Deficient Audit of Fund