12/01/2013
Bank of America Reaches Settlement With Freddie Mac
Freddie Mac, the mortgage finance giant that nearly failed five years ago.
Legal, Regulation & Compliance
11/28/2013
Swiss regulator urges banks to come clean on U.S. tax offences
Both the U.S. and Switzerland are eager to draw a line under a probe into undeclared money wealthy Americans have stowed in tax havens.
11/28/2013
Canaccord to pay over $1-million to settle claims of inadequate supervision of retail accounts
From 2005 through 2010 Canaccord failed to ensure that certain of its branch managers properly carried out their responsibility to supervise retail account activity
11/27/2013
Ex-Banker to Answer Charges in U.S.
The legal case is the latest turn in the U.S. probe of American tax evasion in Switzerland.
11/26/2013
Lehman Brothers Sues Wellmont, Americredit Over Soured Swaps
The surviving remnants of Lehman Brothers Holdings Inc. are suing two former swaps counterparties over soured swaps
11/26/2013
Tom Mulcair: Jim Love Should Be Fired Over Offshore Tax Scheme
Tom Mulcair is calling on the Harper government to fire the chairman of the Royal Canadian Mint over his role in a tax avoidance scheme.
11/26/2013
Under Investigation, Hedge Fund Manager Resigns As Pension Adviser
A hedge fund manager facing a Securities and Exchange Commission fraud probe has resigned as adviser to the New Haven, Conn., Police and Fire Pension Fund Retirement Board.
11/26/2013
Barclays Capital Ordered to pay $2.1 mln to NY Trader
Barclays Capital Inc has been ordered to pay $2.1 million to a New York-based trader it fired last year in connection with the alleged rigging of the London interbank offered rate, or Libor
11/25/2013
Citigroup can't block Abu Dhabi arbitration over $7.5 billion stake
The case arose from one of Citigroup's earlier efforts to shore up its capital base, in the wake of billions of dollars of writedowns tied to subprime mortgages.
11/24/2013
Puerto Rico Leads The Way In Investor Protection
We have been blogging about Puerto Rican municipal bonds over the last several weeks.
11/24/2013
RBC Urges SEC to Test Overhaul of Stock-Exchange Business Models
The practice among stock exchanges of paying rebates to some traders puts long-term investors at a disadvantage and the Securities and Exchange Commission should consider eliminating the system
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.
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