Conviction overturned for woman who aided 'squawk box' prosecutors
A U.S. judge has vacated the conviction of a former Merrill Lynch administrative assistant who lied to a grand jury under pressure from her boss but then helped convict six former brokers and traders...
View ArticleWhat's in a name? Islamic banking rebrands in attempt to go mainstream
Islamic banking is based on core principles of the religion. So it is striking that some banks are removing the word "Islam" from their names — a sign of both the potential of Islamic finance to grow,...
View ArticleIsrael, U.S. sign tax information agreement
Israel and the United States have signed an agreement aimed at improving international tax law enforcement and implementing the U.S. Foreign Accounts Tax Compliance Act (FATCA), Israel's Finance...
View ArticleU.S. Treasury targets Medellin laundering ring with ties to...
The U.S. Treasury Department on Tuesday blacklisted Colombian national Pedro Claver Mejia Salazar for his alleged role running a Medellin-based money laundering network with purported ties to...
View ArticleBritish Columbia private issuers do not understand exemptions, regulator says
Companies active in British Columbia's (BC's) private placement market have inadequate regulatory knowledge and are being poorly advised, the province's securities regulator has said. In a recent...
View ArticleNFA reminds swap firms of their obligations when their compliance chief leaves
A swap dealer or major swap participant must notify National Futures Association, the futures industry self-regulatory organization, of personnel changes involving their chief compliance officer (CCO),...
View ArticleGoldman says client data leaked, seeks court order for Google to delete...
Goldman Sachs Group Inc said a contractor emailed confidential client data to a stranger's Gmail account by mistake, and the bank has asked a U.S. judge to order Google Inc to delete the email to avert...
View ArticleU.S. SEC, in about-face, ends probe of ex-Goldman banker
The U.S. Securities and Exchange Commission has dropped an insider trading investigation targeting a former Goldman Sachs investment banker after initially deciding to file a case against him, the...
View ArticleCalifornia court reinstates ruling against Morgan Stanley in...
A California appellate court has reinstated a nearly $5 million ruling against Morgan Stanley in a case initially filed by two brokers who said the company broke promises it made when recruiting them....
View ArticleU.S. bank regulators release public portions of resolution plans
The Federal Reserve Board and the Federal Deposit Insurance Corporation (FDIC) released the public portions of annual resolution plans for 17 financial firms. Each plan must describe the company's...
View ArticleNoble execs cut deal with SEC ahead of bribery trial
Two executives from offshore drilling contractor Noble Corp have agreed to settle civil claims they participated in a bribery scheme to obtain permits for oil rigs in Nigeria, days before the case was...
View ArticleEXCLUSIVE: U.S. SEC official dissented on BNP Paribas waiver for advisory units
An official at the U.S. Securities and Exchange Commission (SEC) broke ranks with other commissioners, and voted against granting BNP Paribas a critical waiver to continue operating several investment...
View ArticleVenture capitalist Draper wins U.S. bitcoin auction
Venture capitalist Tim Draper was the sole winner of an auction last week of 30,000 bitcoins by the U.S. Marshals Service, according to a statement on Wednesday. Draper is partnering with Palo...
View ArticleMPs hear that rigging of the London gold fix could be commonplace
The House of Commons Treasury Committee has been told there could be regular manipulation of the London gold fix, while a Financial Conduct Authority official said the regulator has no evidence of gold...
View ArticleBarclays sets up academy to improve training, culture
Barclays, trying to restore its reputation after a series of scandals, has created a Compliance Career Academy in partnership with Cambridge University to improve staff training. Barclays was the first...
View ArticleGlobal standard setters seek better understanding of securitisation
A joint cross-sectoral task force that the Basel Committee on Banking Supervision and the International Organisation of Securities Commissions (IOSCO) have set up will undertake a wide-ranging survey...
View ArticleCybersecurity, identity theft, privacy top worries of adviser compliance pros...
Compliance professionals at investment advisers are most concerned about cybersecurity, identity theft, and privacy risks, according to a new survey by the Investment Advisers Association. The trade...
View ArticleSEC sanctions firm, owners, compliance chief over disclosure failures
The Securities and Exchange Commission on Wednesday sanctioned the owners of an registered investment adviser (RIA) they started after their employer, an adviser and broker-dealer, twice denied their...
View ArticleObama: More reforms needed to wring risk from banks
U.S. President Barack Obama said on Wednesday he wants additional financial reforms to make sure banks are not tempted to make risky bets that can pay off handsomely for a few if they succeed but can...
View ArticleCuba protests record U.S. fine of BNP Paribas
Cuba on Thursday criticized as illegal the record U.S. fine against French bank BNP Paribas BNPP.PA, saying President Barack Obama's administration has now imposed more Cuba-related penalties than that...
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