Fairfax Financial, CEO probed over possible insider trading
Quebec's securities regulator is investigating Fairfax Financial Holdings Ltd, its chief executive officer and president for possible illegal insider trading as well as tipping, or passing along...
View ArticleSenator Grassley probes U.S. CFTC'S spending on office leases
A U.S. lawmaker has launched an inquiry into the amount of money the Commodity Futures Trading Commission spends on office leases, expressing concern that the derivatives regulator is wasting taxpayer...
View ArticleU.S. Appeals Court blocks $383 milllion arbitration against Citigroup
A Saudi investor who accused Citigroup of "virtually wiping out" his family’s fortune cannot pursue a $383 million arbitration case filed against the bank, a U.S. appeals court ruled. The 2nd U.S....
View ArticleAllergan sues Valeant, Ackman for alleged insider trading
Botox maker Allergan Inc on Friday accused rival Valeant Pharmaceuticals International and billionaire investor William Ackman of violating securities laws by using insider information as they prepared...
View ArticleSEC launched extensive probe to identify sources in Reuters stories on...
A U.S. Securities and Exchange Commission watchdog conducted an extensive, months-long investigation to find out who had leaked information that appeared in two Reuters stories published last autumn,...
View ArticleHSBC says reform pressures unprecedented as profits drop
Europe's largest bank HSBC warned on Monday that a growing body of international regulations was putting its staff under unprecedented pressure and discouraging them from taking risks. In a strongly...
View ArticleGM unit gets subpoena over subprime auto loans
The U.S. government is investigating General Motors Co's auto financing arm over subprime auto loans it made and securitized since 2007, the company disclosed on Monday. General Motors Financial Co Inc...
View ArticleNY banking regulator questions Ocwen's ties to affiliate
New York's top financial regulator said on Monday that Ocwen Financial Corp, a company that collects home loan payments, may be funneling as much as $65 million in questionable fees to an affiliate, in...
View ArticleTexas tycoons Wylys should pay $750 million for fraud, SEC tells judge
Texas tycoon Sam Wyly and his late brother Charles’ estate should pay about $750 million in damages for their role in a fraudulent offshore tax scheme, a lawyer for the U.S. Securities and Exchange...
View ArticleBroker stole from a demented senior and a scholarship fund, SEC says
The owner of a Redlands, California broker-dealer has agreed to pay over $9 million to resolve charges that he stole from two trust brokerage accounts at his firm, the Securities and Exchange...
View ArticleFannie Mae salesman sentenced for soliciting kickbacks
A federal housing official was sentenced to prison for soliciting kickbacks, the Los Angeles U.S. Attorney's Office said on Monday. Santa Ana federal judge David O. Carter sentenced Armando Granillo, a...
View ArticleArcadia, traders settle U.S. oil-rigging suit for $13 million
Global oil trading house Arcadia and two well-known traders will pay $13 million and face an unusual three-year limit on trading physical U.S. benchmark crude to settle a landmark lawsuit over...
View ArticleSwiss add names to list to prevent bypassing of Russia sanctions
Switzerland on Tuesday added 26 Russians and Ukrainians and 18 organisations to a list designed to prevent it being used as a conduit to circumvent Western sanctions against Russia. This latest move,...
View ArticleJPMorgan updates legal risks at $4.6 billion
JPMorgan Chase & Co on Monday pegged its possible legal costs in excess of litigation reserves at $4.6 billion at the end of June, up from $4.5 billion at the end of March. The company also...
View ArticleSIFMA asks CFTC to leave asset managers out of its position limits rule
The Securities Industry and Financial Markets Association is urging the Commodity Futures Trading Commission urging the futures and swaps regulator to exclude asset managers from a rule that would curb...
View ArticleEx-Citigroup futures trader banned for mismarking bank's prop accounts
A Manhattan federal judge has ordered a former Citigroup director to pay $500,000 for defrauding the bank and an affiliate by mismarking and inflating the value of his position in ethanol futures in a...
View ArticleCredit Agricole starts sanctions talks with U.S. authorities
Credit Agricole said on Tuesday that it was starting discussions with U.S. authorities over possible sanctions breaches after France's third-biggest listed bank completed an internal review of U.S....
View ArticleU.S. judge reluctantly approves SEC-Citigroup $285 million deal
A U.S. judge on Tuesday reluctantly approved a $285 million fraud settlement between Citigroup Inc and the U.S. Securities and Exchange Commission, two months after an appeals court voided his decision...
View ArticleBarclays can keep billions from Lehman brokerage -US appeals court
Barclays Plc is entitled to about $6 billion of disputed assets as part of its hurried purchase of much of Lehman Brothers Holdings Inc's brokerage unit at the height of the 2008 financial crisis, a...
View ArticleOppenheimer faces probes on penny stocks, money laundering from three U.S....
Three U.S. regulators have told Oppenheimer Holdings they are investigating the broker-dealer over issues related to money laundering, penny stock sales and failure to supervise a former broker, the...
View Article