Former St. Louis inspector admits taking bribes, illustrating point of global...
A former building inspector in St. Louis, Missouri has pleaded guilty to bribery charges, admitting he solicited and accepted more than $2,500 in cash in exchange for assuring that certain buildings...
View ArticleEx-Goldman director gets 2 years in prison, $5 million for boardroom leaks
Fallen Wall Street insider Rajat Gupta was sentenced to two years in prison on Wednesday for leaking Goldman Sachs boardroom secrets to the hedge fund manager at the center of the U.S. government's...
View ArticleU.S. sues Bank of America over 'Hustle' mortgage fraud, says caused losses...
The United States filed a fraud lawsuit against Bank of America Corp, accusing it of causing taxpayers more than $1 billion of losses by selling thousands of toxic mortgage loans to Fannie Mae and...
View ArticleWal-Mart overhauls compliance dept amid bribery probe
Wal-Mart Stores Inc has reorganized its compliance department and hired a global chief compliance officer as the world's largest retailer deals with a bribery scandal at its Mexico unit. In a...
View ArticleNew York prosecutors look to reform state's white-collar criminal laws
A New York prosecutors' group launched an effort Wednesday to reform the state's white-collar criminal laws and practices, Manhattan District Attorney Cyrus Vance said. The task force is expected to...
View ArticleFINRA reviewing conflicts of interest at U.S. brokerages
Wall Street's industry-funded watchdog wants to learn more about how brokerages are managing conflicts of interest, including compensation that may motivate brokers to push certain securities to...
View ArticleFINRA using exams to beef up its enforcement cases, top official says
This week's enforcement against broker-dealer David Lerner over its sales of real-estate investment trusts highlights a growing emphasis by the Financial Industry Regulatory Authority on exams to drive...
View ArticleBermuda supports many global special purpose insurer registrations, says BMA
The Bermuda insurance regulatory structure is supporting consistently high levels of global special purpose insurer registrations, regulators said. In the nine months to September 2012, 15 SPIs...
View ArticleWashington joins four other states, FTC charging South Dakota-based online...
Washington has become at least the fifth state to charge a South Dakota-based online payday lender of making unlicensed loans and billing customers for interest rates approaching 2,000 percent. At the...
View ArticleObama sees executive pay rules as next financial reform - report
President Barack Obama said in an interview released on Thursday that the next important step for making the U.S. financial sector safer is to make sure executive pay is less closely tied to risky...
View ArticleU.S. Customs official faces corruption charges for alleged role in import scheme
Federal authorities in Los Angeles arrested a U.S. Customs and Border Protection supervisory officer on Thursday on corruption charges for allegedly taking bribes to allow others, including his...
View ArticleCredit Suisse looks to run U.S. exchange - report
Credit Suisse Group AG is trying to convert one of its trading venues into an exchange, which if successful, would create the only U.S. stock exchange owned outright by a major bank, the Wall Street...
View ArticleMunicipal issuers face more SEC disclosure requirements
Issuers in the U.S. municipal bond market could be required to provide more information about their finances and other matters as institutional investors demand increased transparency for the $3.7...
View ArticleInsider trading wiretaps under scrutiny in Rajaratnam appeal
A panel of judges explored the ramifications Thursday of a potential reversal of hedge fund tycoon Raj Rajaratnam's conviction as they heard arguments on whether FBI wiretap evidence should have been...
View ArticleNasdaq ETF order-type proposal raises questions
Nasdaq OMX Group NDAQ.O has proposed a new order type for exchange-traded funds (ETFs) that may comfort investors who feel there is not enough transparency in the pricing of some securities. But some...
View ArticleCanadian regulator's proposals target broker-dealer outsourcing arrangements
The Investment Industry Regulatory Organisation of Canada (IIROC) has proposed new rules and associated guidance that target outsourcing arrangements used by broker dealers. In a recently released...
View ArticleEx-lawyer charged in Florida with JOBS Act-related fraud
Boca Raton lawyer William J. Reilly criminally violated the securities laws in connection with an offering under the recently signed Jumpstart our Business Startups, or JOBS, Act, Miami U.S. Attorney...
View ArticleBank of America employees could face civil charges in U.S. fraud case...
Bank of America Corp employees could face civil fraud charges as part of a federal lawsuit accusing the bank of causing taxpayers more than $1 billion in losses by selling toxic mortgage loans to...
View ArticleDirty money cost China $3.8 trillion from 2000 to 2011, says report
China has lost $3.79 trillion over the past decade in money smuggled out of the country, a massive amount that could weaken its economy and create instability, according to a new report. And the...
View ArticleInsurance salesman admits structuring transactions to aid tax evasion scheme
An independent insurance salesman for insurance company Aflac Inc has pleaded guilty to tax and currency structuring charges, admitting he swindled the Internal Revenue Service and tried to hide his...
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