UBS sued by U.S. credit-union regulator over sale of mortgage-backed securities
A U.S. regulator has sued UBS, accusing the Swiss bank of violating federal and state laws through misrepresentations in the sale of mortgage-backed securities to two credit unions that later failed,...
View ArticleWife charged with money laundering for hiding proceeds of Rothstein Ponzi scheme
The wife of convicted Ponzi schemer Scott Rothstein and two associates have been charged with money laundering and other crimes for allegedly hiding assets he agreed to forfeit to the government as...
View ArticleU.S. financial consumer agency issues exam procedures for credit bureaus
The Consumer Financial Protection Bureau on Thursday released the examination procedures it will use to ensure that credit bureaus are complying with consumer protection rules. The rules come into...
View ArticleSEC sweep over revenue sharing between advisers and brokers nets firms,...
The Securities and Exchange Commission on Thursday sanctioned Christopher Keil Hicks and two investment advisers he owned for failing to disclose potential conflicts of interest with clients, including...
View ArticleBREAKINGVIEWS: U.S. insider trading cops win battles, lose war
U.S. insider trading cops are winning plenty of battles - but losing the war. Nabbing the likes of Galleon Group founder Raj Rajaratnam hasn't slowed investing on leaked secrets, new research shows....
View ArticleU.S. Senate committee launches probe of JPMorgan's 'Whale' losses
A U.S. Senate committee has launched a probe into JPMorgan Chase's "London Whale" trading losses, according to a source familiar with the investigation. The Permanent Subcommittee on Investigations,...
View ArticleMaryland man faces up to 90 years in prison after admitting to mortgage...
A Maryland man faces up to 90 years in prison after admitting late last week to defrauding homeowners in a three-year mortgage modification scheme by illicitly taking upfront fees and then stealing the...
View ArticleUK's RBS faces Libor fine of up to $480 million, separate U.S.-UK deals...
Royal Bank of Scotland is facing a fine of between £200 million and £300 million ($481 million) for its role in a global interest rate rigging scandal, the Financial Times reported on Saturday without...
View ArticlePuerto Rican businessman faces stiff sentence for laundering drug proceeds
A Puerto Rican businessman has been sentenced to more than 18 years in prison after pleading guilty to charges that he conspired to launder the proceeds of cocaine trafficking, federal prosecutors in...
View ArticleU.S. Treasury launches $18 billion AIG stock offering, Fed to take over...
By Soyoung Kim and David Henry NEW YORK, Sept 9 (Reuters) - The U.S. Treasury Department said it will sell most of its stake in insurer American International Group Inc , making the government a...
View ArticleICP Asset Management settles CDO fraud case
ICP Asset Management and its founder agreed to pay $23 million to settle charges from U.S. securities regulators that they had fraudulently managed certain mortgage-linked investments, the Securities...
View ArticleSEC, CFTC charge manager who boasted success despite Madoff losses
The U.S. Securities and Exchange Commission said it has won an emergency asset freeze against a money manager who claimed to invest $1.5 billion, and fraudulently lured clients with false boasts of his...
View ArticleU.S. SEC postpones discussion on technology glitches to Oct. 2
U.S. securities regulators have postponed a roundtable discussion to Oct. 2 from Sept. 14, aimed at addressing ways to promote market stability in the wake of recent technology glitches that have...
View ArticleSEC rolling out exams, guidance for private fund advisers, official says
Examinations that have been specifically adapted for newly registered private fund advisers will help the Securities and Exchange Commission engage with firms, examine them and give the advisory...
View ArticleU.S. regulator to give banks clarity on mortgage buybacks
WASHINGTON, (Reuters) - The regulator for Fannie Mae and Freddie Mac said on Monday it would give banks more clarity on which type of mortgage loans they would be required to buy back if the loan...
View ArticleMayor of New Jersey's capital arrested on corruption charge
The mayor of Trenton, New Jersey's state capital, was arrested at his home on Monday and charged with taking bribes in connection with a proposed parking garage on city-owned land. Mayor Tony Mack,...
View ArticleGoldman loses $20 million fee in conflict-of-interest case
NEW YORK, (Reuters) - Goldman Sachs GS.N was not paid a $20 million fee it billed for advising El Paso Corp on its more than $20 billion sale to Kinder Morgan Inc KMI.N after the investment bank was...
View ArticleCalifornia official urges U.S. attorney general to stop mortgage eminent...
California Lieutenant Governor Gavin Newsom says he wants the U.S Department of Justice to investigate "threats" against local communities considering using eminent domain to seize and restructure...
View ArticleCFTC urges delay in Peregrine payout after finding false records
U.S. futures regulators urged a delay in cash payouts to bankrupt Peregrine Financial Group's former customers, after finding false bookkeeping that cast doubts on a plan to return a portion of funds...
View ArticleBlackRock Investment Management fined £9.5 million for non-deliberate client...
Britain's Financial Services Authority (FSA) has fined BlackRock Investment Management (UK) Limited (BIM) £9,533,100 for failing to protect client money adequately by not putting trust letters in place...
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