08/28/2017
SEC Freezes Former LPL Broker’s Assets
LPL began investigating Camarco around July 27 after a purported request from one of her clients
Legal, Regulation & Compliance
08/25/2017
Federal Court Appoints Three Prominent Firms to Lead Class Action against World’s Largest Banks
The United States Treasury borrows money by selling various debt instruments, known as Treasury bonds or Treasury securities.
08/25/2017
Two SocGen managers accused of Libor manipulation
Prosecutors claim their actions caused roughly $170m of harm to financial markets
08/25/2017
Former VB investment advisor arrested for $20M fraud
Banks caused material misrepresentations and omissions to be made to several investors.
08/25/2017
Ex-NFL player convicted of $10 million fraud scheme
Court records show that Robertson defrauded elderly individuals, former coaches, donors, alumni, and school employees.
08/24/2017
Morgan Stanley Slapped with $500K Fine
Advisors typically took the orders by phone and then aggregated them for execution.
08/23/2017
Insider-Trading Crackdown Bolstered as Martoma's Appeal Rejected
The appeals court in New York rejected Martoma’s claim that the jury had convicted him based on improper instructions from the judge.
08/23/2017
Wealthsimple launches portfolio for Muslims adhering to Islamic banking laws
Wealthsimple’s Halal portfolio will have the same fee structure as its other core offerings
08/22/2017
Banned Broker Sentenced to Eight Years in Prison
U.S. District Court Judge Leigh Martin May also ordered Alleca to serve three years of supervised release and pay back around $24.4 million in restitution, according to the publication.
08/22/2017
UBS Slams Florida Broker’s Whistleblowing Claim as Implausible
His claim asserts two counts of violating a federal Dodd-Frank Act whistleblowing law and a Florida whistle-blowing statute.
08/22/2017
What Seattle's income tax fight says about our America's pension mess
Seattle officials, who say they need the tax to fund a range of programs, argue that the tax is legal.
08/21/2017
ADP's board rejects billionaire hedge-fund manager Bill Ackman's three candidates
The payroll processing company said it plans to file its preliminary proxy statement with the Securities and Exchange Commission this week.
08/21/2017
Finra bars former Merrill rep for failing to appear at hearing
Regulator was looking into charges that broker forged customer signatures
08/18/2017
Justice Department’s Latest Offshore Bank Resolution Confirms Value Of Self-Disclosure And Voluntary Remediation By At-Risk Foreign Institutions
The Justice Department appears to have taken great care to describe publically the extent of Prime Partners’ extensive cooperation
08/18/2017
FDIC sues Barclays, RBS and other banks over Libor
Agency claims failed US lenders lost money because rate was manipulated downward
08/18/2017
Advisor 'banished' after state regulator claims he hid client losses
The SEC is now investigating Jordan and his firms as well, according to the state.
08/18/2017
Tax Court holds that non-US persons are not subject to tax on gain from the sale of a US partnership interest
Further, the IRS expressed concern that the Tax Court did not give deference to the agency's interpretations of law.
08/18/2017
Ex-Summit Wealth Management CEO sentenced to federal prison on $24 million fraud scheme
Between 2007 and 2012, Morrow and Alleca marketed promissory notes in Detroit Memorial Partners to Summit Wealth clients in Atlanta and throughout the country.
08/18/2017
SEC Drops Suit Against 'London Whale' Traders
Recent, unspecified statements and writings by the London Whale himself, Bruno Iksil, undermined prosecutors' plans to call him as a witness against Julien Grout and Javier Martin-Artajo, shown in 2013
08/18/2017
Banca IMI Securities to Pay $35 Million for Improper Handling of ADRs in Continuing SEC Crackdown
The SEC’s order finds that BISC obtained pre-released ADRs and lent them to counterparties without satisfying the proper requirements.