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.
Legal, Regulation & Compliance
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’
05/15/2015
U.S. SEC Examiner Cites More Problems in Private Equity Sector
The new top examiner at the U.S. Securities and Exchange Commission said Wednesday that the agency is still finding some deficiencies in how private equity firms are complying with its regulations.
05/15/2015
Banks giving Chicago time, while state bankruptcy bill takes shape
Bank of America Merrill Lynch and Deutsche Bank AG declined to comment on any negotiations with the city. BNY Mellon, US Bank, Northern Trust Corp and Bank of Montreal were among several banks that did not respond to requests for comment.
05/15/2015
Divorce and Money: Six Costly Mistakes
From overlooking assets to seeking revenge, here are financial pitfalls to avoid
05/14/2015
U.S. Appeals Court Appears Receptive to Bond Trader's Fraud Appeal
Litvak, 40, was sentenced to two years in prison following his March 2014 conviction by a federal jury in New Haven, Connecticut
05/14/2015
Hedge-Fund Manager’s Credibility Questioned in Russian Laundering Case
Defendant Denis Katsyv’s court filing takes aim at William Browder’s allegations
05/14/2015
Dov Charney Files Two Lawsuits Accusing American Apparel and Hedge Fund for Defamation
In more legal shots fired in the ongoing battle over control of American Apparel, the dismissed clothing company’s founder has filed two lawsuits in less than one week
05/14/2015
BlackRock says regulators misunderstand securities lending risks
The Financial Stability Oversight Council, a body of U.S. regulators chaired by Treasury Secretary Jack Lew, has been particularly focused on how the sector operates.
05/14/2015
FINRA Fines Morgan Stanley $2 Million for Short Interest Reporting and Short Sale Rule Violations
FINRA also found that the firm's supervisory system was not reasonably designed to detect and prevent such violations.
05/14/2015
Former Credit Suisse Private Bankers Barred from Banking Industry
The Federal Reserve Board is barring five former private bankers and senior managers of Credit Suisse, AG, Zurich, Switzerland from employment in the banking industry.
05/14/2015
UBS must pay $200,000 to Puerto Rico fund investor
Over 20 years, the funds provided excellent returns
05/14/2015
Bank employee accused of using her job to stalk ex-boyfriend
It's hard enough in this day and age to keep your credit card information safe, but imagine if a bank employee was using your credit card to track your every move.
05/13/2015
Nomura, RBS conducted ‘enormous’ deception over risky financial product: U.S. judge
Nomura Holdings Inc. and Royal Bank of Scotland Group Plc. may face $500 million in damages for what a judge called an “enormous” deception in the sale of defective mortgage-backed securities