05/21/2015
FINRA Needs Next Gen Talent Too
FINRA has about 3,400 employees
Legal, Regulation & Compliance
05/21/2015
Ex-Madoff Employee Turned Cooperator Gets Home Detention
The sentencing came one day after another cooperating defendant, former Madoff controller Enrica Cotellessa-Pitz, also avoided prison.
05/21/2015
SEC Votes to Propose New Asset Manager Reporting Rules
The proposal will "vastly improve the type and format of the information that funds provide to the commission and to investors"
05/21/2015
Where will Bank of America’s latest fine go?
When banks are fined by the government, the money doesn’t always go entirely to the Treasury.
05/21/2015
US proposes tighter export rules for computer security tools
The Commerce Department’s Bureau of Industry and Security (BIS) is proposing requiring a license in order to export certain cybersecurity tools
05/21/2015
Yahoo CIO Mike Kail replaced as he fights Netflix lawsuit
Netflix, where Kail worked from 2011 until he left for Yahoo last summer, sued Kail in November in Santa Clara County Superior Court
05/20/2015
BofA & U.S. Bancorp Win Dismissal of 3 RMBS Lawsuits
The underlying loans were worth $778.6 billion.
05/20/2015
Exclusive: UBS must buy back investor's Puerto Rico bond funds for $1 million
The decision is unusual because it explains the reasons behind the ruling.
05/20/2015
UBS fined $203 mn over LIBOR scandal but gets immunity on forex
The announcement comes as four other major banks are expected to fined billions of dollars for rigging the foreign exchange market in settlements with US and British regulators.
05/20/2015
Barclays’ Hedge-Fund Financing Unit Feels Executive Churn
Many banks’ prime brokerages seeing unusually high level of staff turnover
05/20/2015
Barclays fined record £284m by FCA over fx rigging
Barclays has agreed to pay a combined total of £1,533 million (sterling equivalent). In common with other financial institutions announcing FX settlements today with the DOJ, Barclays has also agreed to plead guilty to a violation of US anti-trust l
05/20/2015
Manhattan DA Charges NY Broker-Dealer in International Fraud
Defendants Defrauded More Than 20 Foreign Investors through Private Offering in New York
05/20/2015
SEC Votes to Gather More Info from Asset Managers in SIFI Inquest
The proposal will ‘vastly improve the type and format of the information that funds provide to the commission and to investors,’ SEC Chairman Mary Jo White said.
05/20/2015
The tricks used by 'coiled cobra' market-riggers
One rule-breaker said "if you ain't cheating, you ain't trying", while others used hand signals to cheat clients and fix financial markets
05/20/2015
Facebook Share Scammer Guilty of Stealing $11 Million
Stratos convinced the manager of a Philadelphia family office to send money that he would in turn use to buy Facebook shares from employees before its initial public offering in May 2012.
05/19/2015
US Bank, Bank of America win dismissal of mortgage claims
The judge gave all plaintiffs a chance to amend their complaints.
05/18/2015
Seeing red over bank affiliates' waivers
Critics upset with passes sought by firms admitting wrongdoing
05/15/2015
Barclays Said to Face U.S. Fine for Breaching Libor Settlement
Barclays Plc will probably be fined for violating a three-year-old settlement over interest-rate rigging
05/15/2015
Investment banker at Manhattan firm and his father charged in insider trading scheme
The charges including conspiracy and securities fraud were contained in a criminal complaint unsealed in Manhattan federal court
05/15/2015
Ex-JPMorgan Bank Teller, ID Theft Ring Get Prison Terms for Stealing $850K
The fraudsters referred to TD Bank as ‘touchdown’