11/22/2013
Ex-Credit Suisse Trader Gets 30 Months in Jail
A former top Credit Suisse trader was sentenced to two and a half years of prison.
Legal, Regulation & Compliance
11/21/2013
SEC slams Florida advisers with fraud charges for taking huge commissions on risky investments
The advisers also are charged with contributing to violations of the “custody rule” that requires investment advisory firms to establish specific procedures to safeguard and account for client assets.
11/20/2013
US hedge fund adviser pleads guilty to child porn charges
The firm advises clients on asset allocation and risk management and Zask has served as an expert witness in dozens of banking industry cases.
11/20/2013
Ex-Merrill Broker Suspended, Fined for Anti-money Laundering Violations
A former Merrill Lynch broker who managed as much as $1 billion has been suspended and fined by Wall Street's watchdog
11/19/2013
JPMorgan Agrees Record $13bn Deal For Mortgage Misdeeds
The bank acknowledged it made serious misrepresentations to the public including the investing public.
11/18/2013
DCO to QCCP in 199 pages
It is notable how many of the recent CFTC announcements have been essentially “tidying-up” exercises, the implication perhaps being that the substantive elements of Dodd-Frank are all in place.
11/17/2013
Executive summary from the Global Regulatory Outlook report
The last 12 months has been another year of change for the financial services industry. We have begun the move from inter- and intranational debate about the shape and purpose of regulation, to a period of understanding the implications for business follo
11/17/2013
BlackRock Set for Final Clash With AIG on BofA Mortgage Deal
The hearing began two years after Bank of America reached the settlement to resolve claims over mortgages packaged into securities.
11/17/2013
MF Global ordered to pay $1.2bn back to customers
US judge orders MF Global to pay $1.2bn in restitution to customers and imposes $100m fine
11/17/2013
Major Banks Now Face a Second Forex Lawsuit
The foreign exchange trading investigation is the latest multinational probe of financial benchmarks that affect trillions of dollars in personal and business transactions.
11/14/2013
Former JPMorgan 'Whale' supervisor opposes U.S. extradition
A former JPMorgan Chase executive accused of helping to hide trading losses in a $6.2 billion financial scandal at the bank rejected on Friday
11/14/2013
JP Morgan agrees $4.5bn mortgage settlement
The settlement is with 21 major institutional investors.
11/14/2013
Compliance Risks Now a Higher Priority for Auditors
The Pulse of the Profession: Defining Our Role in a Changing Landscape survey is a semiannual assessment of the state of the internal audit profession in North America.
11/12/2013
Grant Thornton Ordered to Pay $100 Million in Tax Shelter Lawsuit
A Kentucky circuit court judge has ruled that Grant Thornton is liable for more than $100 million in damages to be paid to a business owner and his family after he was sold an offshore tax shelter that the Internal Revenue Service considered abusive.
11/10/2013
US investigates BNP Paribas in currency manipulation probe
The US Department of Justice has quizzed BNP Paribas executives as part of an investigation into the potential manipulation of the $5.3 tril-a-day currency market
11/10/2013
Suit Charges 3 Credit Ratings Agencies With Fraud in Bear Stearns Case
The collapse of two Bear Stearns hedge funds in 2007 was among the earliest signs of the impending financial crisis.
11/09/2013
Pay Raises for Bank Risk Officers in Asia Trump New York
Salaries for banks’ risk and compliance officers in Singapore and Hong Kong rose at about twice the pace of pay for similar positions at New York and London firms amid a shortage of skilled staff members
11/08/2013
Morgan Stanley private wealth manager secretly filmed sex romps: prosecutors
It was a sick reality show, and they didn’t audition for it
11/07/2013
Latham makes up six London associates in global promotion round
Associate promotions cover diverse markets and practice areas
11/07/2013
Ex-ICAP Brokers Said to Face U.K. Prosecutors in Libor Probe
Three former ICAP Plc brokers charged in the U.S. over their involvement in Libor-rigging will be interviewed by U.K. prosecutors within weeks