10/21/2018
Blackrock, Fidelity employees and others sue over high fees on their own 401(k)s
Class-action lawsuits allege that big firms are unfairly loading retirement plans with their own funds
Legal, Regulation & Compliance
10/19/2018
Raymond James loses chance to snuff a lawsuit on upcharging fees
The lawsuit alleges that the firm overcharges, sometimes by up to ten times, its “processing fees” in certain accounts, according to the lawsuit.
10/19/2018
Wells Fargo Could Face Class Action Suit Over Deferred Compensation
The complaint also names Wells Fargo & Co., the parent bank of Wells Fargo Advisors, and Wells Fargo Advisors Financial Network, the company’s independent broker-dealer, according to the publication.
10/19/2018
SEC Charges Investment Advisor with Fraud
He allegedly told the clients that his strategy was safe and successful, the regulator says, but in fact Fixelle used the investors’ funds to cover personal expenses and growing personal debt, according to the SEC.
10/19/2018
Outten & Golden LLP: American Bankers Association Faces Discrimination Lawsuit
The lawsuit also alleges that over the years the "American Bankers Association has received reports involving sexual harassment and discrimination" by men at the top levels of the organization, yet allowed those men to remain in power.
10/17/2018
Why Credit Suisse Was Ordered to Pay Ex-Broker Almost $1 Million
Nonetheless, the Finra panel ruled Chilton must pay back Credit Suisse an outstanding loan balance of $18,706, netting him an award of $844,621, InvestmentNews writes.
10/17/2018
Notice Regarding Settlement with U.S. Department of Justice
The U.S. Subsidiaries do not admit any facts, liability or wrongdoing in connection with the settlement and they dispute the allegations made by the DOJ.
10/17/2018
IRS to revoke 260,000 American passports
The State Department denies passport applications based on the information on outstanding debts it receives from the IRS.
10/17/2018
SEC rules NYSE and Nasdaq did not justify data fee increases
Landmark decision puts pressure on exchanges over cost of trading data
10/15/2018
CEO Predicts Cannabis Industry Can Bank Legally By Christmas
Linton initially alluded to a first of the year development.
10/15/2018
Bridgewater warns Fed could turn ‘hot’ economy to ‘mediocre’
World’s largest hedge fund expects market turbulence as economy begins to cool
10/15/2018
The U.S. Needs to Crack Down on White-Collar Crime
What makes Michael Cohen different from other fraudsters? He got caught.
10/12/2018
Global Financial Markets Regulatory Review
Reported items include proposed legislation, rule changes, disciplinary actions, litigation, and other news.
10/12/2018
Basel AML Index reveals slow progress in combating money laundering
The findings tie into recent high-profile probes involving countries generally considered low-risk.
10/12/2018
Tax, Fiduciary and Philanthropic Requirements in 60 Countries - RESEARCH
A similar report was first produced by the two organizations in 2015.
10/11/2018
Ex-Wilmington Trust execs avoid life sentences; face possible decade in jail
During the two-month trial, prosecutors showed the crimes contributed to the demise of the once-venerable Delaware institution and with it the loss of millions of investors' dollars.
10/11/2018
Tighter Monetary Policy Likely to Shape the Markets Through 2018 and Beyond
Once the Fed reaches its neutral rate, monetary policy will have a greater impact on the direction of the economy and markets.
10/11/2018
Frank Stronach suing daughter Belinda over family fortune
New Jersey’s Throroughbred Daily News broke the news after obtaining a 73-page lawsuit from the Ontario Superior Court of Justice.
10/11/2018
NY fines UAE's largest bank over lax money-laundering safeguards
DFS Examinations Found Multiple Deficiencies in the Bank’s Compliance with Anti-Money Laundering Laws and Office of Foreign Asset Controls Regulations
10/11/2018
PA accused of stealing Goldman CEO’s wine jumps to his death
He was accused of stealing hundreds of bottles of wine from Solomon between 2014 and 2016.