10/19/2015
FCA bans former UBS trader Adoboli from financial services industry
The Financial Conduct Authority formally stripped him on Friday of gaining any chance of future employment in the regulated financial sector.
Legal, Regulation & Compliance
10/19/2015
SEC Head Talks Hedge Fund, Private Equity Regulation
Chair Mary Jo White named improper fee and expense practices as one of the US regulator’s primary targets.
10/18/2015
Big Banks to America’s Firms: We Don’t Want Your Cash
Profit-crunching low interest rates have banks judging cash too costly to keep
10/17/2015
JPMorgan, Morgan Stanley pay most in $1.9 bln swaps price-fixing settlement
JPMorgan will pay $595 million, while Morgan Stanley and Barclays will pay $230 million and $178 million, respectively
10/16/2015
Ex hedge-fund honcho who hid computer in ceiling of his lawyer's office convicted of fraud
After he was charged in 2012, Murray lived in a halfway house but was allowed to leave to meet with his lawyer.
10/16/2015
A major hedge-funder in prison for insider trading is being sued by his brother for $14.5 million
In the lawsuit, Rengan Rajaratnam, 45, said Galleon failed to pay him $8.3 million on profits
10/15/2015
Santander to Pay $6.4 Million in Puerto Rico Bond Settlement
Santander neither admitted nor denied the charges
10/15/2015
SEC Charges Six Firms for Short Selling Violations in Advance of Stock Offerings
In the first fiscal year after the Initiative was announced, Rule 105 violations, detected through various means available to the SEC, decreased by approximately 90 percent over the previous six years.
10/14/2015
Ex-Merck Analyst Zwerko Gets Three-Year Insider-Trading Sentence
Zachary Zwerko pleaded guilty in February to giving inside information to the former BNY Mellon employee
10/12/2015
Bank of America Sees Foreigners Rushing to Fund Spending by Indian States
State governments have control over land, water and electricity
10/12/2015
Former Benghazi Committee Investigator Alleges Bias Against Hillary Clinton
The complaint asks that Podliska be reinstated to his investigative role, reimbursed for lost wages and compensated for his legal fees.
10/11/2015
Bank pays $18M settlement for lending discrimination
Settlement Provides Compensation to Victims Identified by the Department of Justice and Establishes Fair Procedures for Treating Borrowers Who Receive Disability Income
10/11/2015
U.S. warns governments, bankers Iran sanctions still in place
The United States wants to tell governments not to get ahead of themselves when dealing with Iran
10/11/2015
Arbitration Law Firm announces investigation into UBS ETRACS ETNs
Our investigation relates to UBS’ sales practices related to its proprietary ETRACS ETNs.
10/09/2015
'Bond King' Bill Gross sues Pimco for 'forcing him out'
Bill Gross claims a 'cabal' of executives were 'driven by a lust for power, greed, and a desire to improve their own financial position and reputaion'
10/09/2015
New York Libor Trial Tests U.S. Ability to Do What U.K. Has Done
If a case like this succeeds, you know it can be done
10/09/2015
Bill Gross Indicts PIMCO, Accuses Colleagues of Conspiracy
PIMCO's parent, German insurer,Allianz SE's AZSEY U.S. unit - Allianz Asset Management of America L.P. - also stands as a defendant in the lawsuit, which is seeking at least $200 million in damages.
10/08/2015
Blackstone to Pay $39 Million to Settle SEC Charges Over Fees
The SEC said that the payments Blackstone received "essentially reduced the value of the portfolio companies prior to sale, to the detriment of the funds and their investors.
10/08/2015
Advisors More Likely to Join Existing RIA Firm Than Start Their Own Firm
Advisors considering the RIA channel are increasingly looking to join existing firms that can provide them with not only the necessary operational infrastructure, but also a sense of community.
10/08/2015
SEC Grants Too Many Confidential Treatment Requests, Critics Say
Warren Buffett’s Berkshire Hathaway and other institutional investors have used the CTR loophole to avoid disclosing holdings.