10/06/2016
Credit Suisse to Pay $90 Million for Misrepresenting Performance Metric
The bank admitted wrongdoing in disclosing how it determined its net new assets metric from the fourth quarter of 2011 through the fourth quarter of 2012
Legal, Regulation & Compliance
10/06/2016
More DOL Compliance Help
The company said it is withholding comment until a public launch in 2017, but it did make public a new website that reveals some details.
10/06/2016
SEC rules to land on asset management industry this fall
One of those proposed rules would require funds to report new monthly data to the SEC.
10/06/2016
Investment Adviser Charged With Cherry-Picking and Misleading Clients
Balter allegedly allocated profitable trades to his own accounts and unprofitable trades to his client accounts.
10/05/2016
MarketCounsel Wins WealthManagement.com 2016 Industry Award for the MarketCounsel Summit
The winners were announced at a gala reception on September 29, 2016 at the Mandarin Oriental Hotel in New York City.
10/05/2016
Bill Gross of Janus Warns Financial Markets Have Become 'a Vegas Casino'
Gross, who oversees the $1.5 billion Janus Global Unconstrained Bond Fund, recommended Bitcoin and gold for investors who are looking for places to preserve capital.
10/05/2016
U.S. high court to hear closely watched insider trading appeal
At issue is whether prosecutors in insider trading cases must prove that an alleged source of corporate secrets, like the brother-in-law, received a tangible benefit such as cash in exchange for any tips.
10/04/2016
Morgan Stanley Unit Accused of High-Pressure Sales Tactics
The San Francisco-based bank agreed last month to pay $185 million after federal and local authorities found its cross-selling culture helped push employees to open unauthorized accounts.
10/04/2016
Morgan Stanley Charged with Running Unethical Sales Contests
The charges against Morgan Stanley come one month after Wells Fargo was fined for fraudulently opening accounts
10/04/2016
First Foundation to Acquire Two Branches in Orange County
Upon the closing of the Transaction, First Foundation Bank will operate a total of eleven branches, nine of which are located in California.
10/03/2016
Deutsche Bank near $5.4 bn US toxic bonds settlement
US shares of Deutsche Bank rose 14.5 percent to $13.15.
10/03/2016
RBC cutting 15 investment banking jobs in London
M&A activity in Europe is down 19 percent to $484 billion so far this year compared to last
10/03/2016
Cameco and the CRA head to court over potential $2.2-billion tax dispute
He said many cases are resolved before court, in part because of the cost and length of time such cases takes, but says this case is different.
10/03/2016
DEUTSCHE HELL: Desperate German bank pleads over £10BN fine with US as it teeters on brink
TROUBLED Deutsche Bank is desperately trying to haggle down a gigantic mis-selling fine, which investors fear could sink the company and heavily damage Germany’s economy.
09/30/2016
Lawmakers ask Wells Fargo CEO: 'Why shouldn't you be in jail?'
But as during the grilling he received last week from a Senate panel, Stumpf remained on the defensive.
09/30/2016
Calamos faces whistleblower lawsuit
Katz is seeking compensation for “lost wages and future loss of earnings” and benefits as a result of the “retaliatory discharge.”
09/30/2016
Lehman Brothers to Pay Another $3.8 Billion to Creditors
Distribution will bring total payout in the firm’s bankruptcy to more than $113.6 billion
09/30/2016
Behind the life and death of a star money manager accused of insider trading
Then, in June of this year, the charges were filed.
09/29/2016
SEC says UBS to pay $15 million over sales practices
UBS's notes were designed to offer attractive yields with a lessened risk of loss
09/29/2016
Ex-A.I.G. Chief Parries Inquiries on Offshore Reinsurer in Fraud Trial
The state contends Capco was a sham used to convert into investment losses