09/25/2013
Bank of America to pay US$2.2m in race bias case
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Legal, Regulation & Compliance
09/25/2013
Jefferies to pay $7 Mln in Auction-Rate Securities Arbitration
Auction-rate securities were sold by financial firms as highly-liquid short-term instruments similar to money-market funds but with slightly higher returns.
09/25/2013
Madoff accountant, 77, charged with aiding Ponzi scheme
A former accountant for Bernard Madoff has been indicted on charges he helped the convicted swindler defraud thousands of customers in the Ponzi scheme masterminded by Madoff, nearly five years after the fraud was uncovered.
09/24/2013
The Fed’s Silence a Concern For Banks
The future of Goldman Sachs’ and Morgan Stanley’s commodity businesses faces even greater uncertainty after a key deadline
09/24/2013
ICAP Hit With Big Fines Over LIBOR-Fixing Scandal
This fine comes alongside action from the United Kingdom’s Financial Conduct Authorit
09/23/2013
Through Equity Trust Company, Complaints About Roth IRAs Rebutted
Though the Roth IRA was created to make it easier for individuals to save for retirement, complaints remain.
09/22/2013
Fed Leaves Banks Hanging as Commodity Asset Deadline Passes
The banks have been discussing the issue with the regulator behind closed doors for five years, since converting to Fed-regulated banks at the peak of the financial crisis in September 2008
09/22/2013
TD To Pay $52.5M US in Fines Over Ponzi Scheme
Toronto-Dominion Bank will pay $52.5 million US in civil penalties to settle charges by U.S. regulators that it violated securities laws in connection with a Ponzi scheme
09/22/2013
U.S. Regulator Sues Morgan Stanley,Eight Others Over Faulty Securities
Goldman Sachs Group Inc, Wachovia Corp, a unit of Wells Fargo & Co and Residential Funding Securities LLC, now Ally Securities, also sold faulty securities to Southwest
09/22/2013
Ex-Qualcomm Executive Indicted
Federal authorities indicted a former executive vice president at Qualcomm on Monday, saying that he was the mastermind of an elaborate insider trading scheme.
09/19/2013
Sitting comfortably – Swiss lawyers benefit as Gnomes of Zurich come under attack
So where does this leave Switzerland's legal powerhouses?
09/18/2013
JP Morgan confirms $920m payout
JP Morgan has confirmed it is paying $920 million (£573 million) to a group of regulators.
09/17/2013
JPMorgan to pay £500m settlement for London Whale scandal
The blue blooded investment bank is close to settling investigations into its £3.9billion London Whale losses
09/17/2013
Bahrain's Arcapita exits chapter 11, plans asset sales
"We expect to have a complete exit of the portfolio over the next four to five years," a spokesman told Reuters.
09/15/2013
JPMorgan trader fighting Whale charges says he was only following orders
It may be part of an attempt to tell the government that this case is weaker than you think, and you’ll be embarrassed
09/15/2013
HSBC Joins Morgan Stanley in Plan to Screen for Money Laundering
HSBC accepted responsibility at the time and said it’s “a fundamentally different organization from the one that made those mistakes.
09/15/2013
Wells Fargo Provisions Top Losses by $19 Billion in Stress Test
Wells Fargo & Co. (WFC:US), the largest U.S. home lender, would survive $29.7 billion of loan defaults under a company-run stress test and stay above minimum regulatory capital levels in a severe economic downturn.
09/14/2013
Prominent Hedge Fund Attorney Joins Murphy & McGonigle
Her practice focused on enforcement defense and regulatory counseling of financial services firms.
09/12/2013
Investor drops US$8m claim against UBS
AN investor who sued UBS AG to recover more than US$8 million over an alleged mismanagement of his investment portfolio in the global financial crisis following the collapse of Lehman Brothers has withdrawn his suit after three days of trial.
09/12/2013
JPMorgan to spend $4 bln on compliance and risk controls-WSJ
JPMorgan Chase & Co plans to spend an additional $4 billion and commit 5,000 extra employees to fix risk and compliance issues after a slew of investigations by regulatory authorities.