U.S. prosecutors in Colorado seek accounts linked to several marijuana shops
Federal prosecutors in Colorado are seeking the forfeiture of a Denver-area warehouse, a safe deposit box and $850,000 held in eight bank accounts they say are linked to money-laundering activity by a...
View ArticleFormer hedge fund analyst indicted in NY for trading model theft
A former analyst for hedge fund Two Sigma Investments LLC was indicted in New York on Tuesday on state charges he stole information about the fund's confidential computer trading models. Kang Gao, a...
View Article"Whinging" FX traders were not reporting rigging in 2006, Bank of England...
Conversations in 2006 between foreign exchange traders and Bank of England officials do not point to traders being concerned about rigging of the £5.3 trillion daily market, according to the central...
View ArticleU.S. Labor Department wants to mandate guide to 401(k) fee disclosures
The U.S. Department of Labor on Tuesday proposed a rule requiring pension plan service providers to offer a guide to help employers navigate disclosures about fees and potential conflicts of interest....
View ArticleU.S. Senator Collins says bill would tweak capital rules for insurers
A U.S. senator who backed tougher capital rules for nonbank financial firms said on Tuesday that regulators misread how that requirement applied to insurance companies, and she has proposed new...
View ArticleGlobal regulators must collaborate to harmonize swaps rules, says U.S. CFTC's...
The Commodity Futures Trading Commission's acting chairman is calling on the agency's staff to work with its foreign partners to develop a single approach for regulating the swaps market. Mark Wetjen...
View ArticleTop Citigroup executives take lead on Banamex probe
Top Citigroup Inc executives Manuel Medina-Mora and Brian Leach are taking the lead on an internal probe into alleged fraud at the U.S. bank's Mexican unit Banamex, the Wall Street Journal reported,...
View ArticleU.S. SEC to review plan to require brokers to disclose bonuses
Wall Street's industry-funded watchdog has asked the U.S. Securities and Exchange Commission to approve a measure that would require stockbrokers to tell clients about bonuses they receive when they...
View ArticleU.S. investors warned on bitcoin as federal, state regulators move toward...
U.S. federal and state regulators, including the increasingly powerful federal derivatives and commodities overseer, moved closer on Tuesday to regulating bitcoin, the virtual currency experiencing...
View ArticleTokyo lawsuit raised red flags on Mt. Gox funding, compliance
Two months before Mt. Gox filed for bankruptcy it was sued by a customer seeking the return of funds in a case that highlights some of the red flags raised in the run-up to the collapse of what was...
View ArticleEU moves towards asset freezes, travel bans on Russia
The EU agreed a framework on Wednesday for its first sanctions on Russia since the Cold War, a stronger response to the Ukraine crisis than many had expected and a mark of solidarity with Washington in...
View ArticlePEPwatch: Swiss investigating Uzbek president's daughter over money laundering
Switzerland's public prosecutor said on Wednesday it was investigating Gulnara Karimova, the daughter of Uzbekistan's president, on suspicion of money laundering. The prosecutor said it had widened an...
View ArticleBig Apple offers outsize bite of finance industry bonuses
The Big Apple is still the place to be if you want an outsize bite of banker bonus bonanzas. That, at least, is one of the conclusions to be drawn from New York State Comptroller Thomas DiNapoli's...
View ArticleSwiss banker in U.S. tax case says he was told, 'Don't get caught'
A former Credit Suisse AG banker pleaded guilty on Wednesday to conspiring to help U.S. customers evade taxes by using Swiss accounts, and said he did so with the encouragement of his superiors,...
View ArticleJefferies to pay $25 million to settle mortgage bond trading charges
Jefferies LLC will pay $25 million to resolve U.S. criminal and civil investigations into its mortgage bond trading, after one of its former traders was convicted for defrauding clients, and...
View ArticleBrokerage founder avoids jail in muni bond bid-rigging case
The head of a California financial products brokerage who pleaded guilty to overseeing a vast enterprise of bid-rigging for investment contracts for municipal bond proceeds avoided prison Wednesday...
View ArticlePEPwatch: Former Kansas lawmaker defrauded bank and laundered proceeds,...
A federal grand jury has indicted a former Kansas lawmaker on bank fraud and money laundering charges, prosecutors announced Wednesday. Trent LeDoux, 40, of Holton, Kansas, committed the crimes in 2011...
View ArticleCanadian investment regulator issues new guidance on leveraging
In a continuing effort to address suitability concerns, Canada's investment industry regulator has issued new guidelines targeting investment strategies that involve borrowed money, also known as...
View ArticleCFTC weighs feedback on high-frequency trading controls
The Commodity Futures Trading Commission is weighing comments from market participants and investor protection advocates on how it should regulate high speed trading, with a leading industry group...
View ArticleBig fine imposed on ex-Goldman trader Tourre in SEC case
A U.S. judge on Wednesday ordered former Goldman Sachs Group Inc trader Fabrice Tourre to pay more than $825,000 after a jury found him liable for defrauding investors in a subprime mortgage product...
View Article