08/11/2015
State Farm hit with excessive fees suit over target date funds
Plaintiffs accuse firm of receiving almost half of the management fees while a sub-adviser did most of the work
Legal, Regulation & Compliance
08/11/2015
Guggenheim settles for $20 million over not disclosing loan -SEC
The SEC order also found that Guggenheim improperly charged a client $6.5 million in asset management fees
08/11/2015
Tampa fund manager to plead guilty to Facebook investment fraud
According to his plea agreement, Movalia “made material misrepresentations and omissions through OM Investment Management
08/11/2015
Citigroup in $13.5 million settlement over defunct CSO hedge fund
The preliminary settlement was filed in Manhattan federal court and requires court approval.
08/11/2015
New SEC Rule Will Not Fix CEO Pay Gap
Ostensibly a tool for institutional investors, it will more likely be used as raw meat for sensationalist media headlines
08/11/2015
The Cyber-Insider: Mystery Money Manager Arrested in Hacking
He seems like an American success story: an ambitious Russian who came to the U.S. and went from business school to Wall Street to his own hedge fund.
08/11/2015
Puerto Rico Investors Win Relief From UBS
Cases were decided by arbiters from Finra
08/11/2015
Credit Suisse, Barclays in Talks to Settle ‘Dark Pool’ Allegations
U.S. regulators could levy large fines over alleged wrongdoings
08/10/2015
Disclosing CEO-worker pay gaps makes no sense for Wall Street banks
The pay gap rule has already received criticism for a number of reasons.
08/10/2015
New OCC Task Force on Banking Innovation
We’re still early in the process, so I can’t tell you exactly where we’ll end up
08/07/2015
Ex-Wells Fargo Compliance Officer Spared Penalty in U.S. SEC Case
But SEC Administrative Law Judge Cameron Elliot, who presided over a trial before the agency's in-house court
08/07/2015
'Money Guys' firm sues Maryland securities division
In June, Frosh's office said it wanted to permanently bar "Money Guys" infomercial star Philippe Rousseaux from offering investment services in Maryland.
08/07/2015
Ruling Expected Soon in Challenge to NYC Banking Law
The outcome could be an important precedent in relation to similar laws in other cities.
08/06/2015
U.S. Judge Hands SEC Setback Over In-House Judges
It is also at least the third federal court decision since June to question the constitutionality of how the SEC's five administrative law judges are appointed.
08/06/2015
The SEC moves to mandate wealth shaming on American corporations
The reasons for this seem clear from the social justice perspective, while not apparently having anything to do with the proper regulatory duties of the SEC.
08/06/2015
U.S. Probes Och-Ziff Africa Deal Tied to Mugabe
Hedge-fund firm is in talks to settle broader investigation into its business dealings in Africa
08/06/2015
Former Wilmington Trust President, 3 Others Indicted
Robert V.A. Harra, former CFO David Gibson and former credit chief William North charged
08/06/2015
White Collar Crime Isn't What it Used to Be
The family in charge of the Modell's Sporting Goods store chain is in a legal spat
08/05/2015
Everest investment advice business sues Maryland attorney general's securities division
Maryland Attorney General Brian E. Frosh sought to close Rousseaux's business with an order to show cause in June.
08/05/2015
ASIC urged to clamp down on 'ginormous' private equity fees
The Australian Securities and Investments Commission is set for a broader clampdown on fees disclosed in product disclosure statements.