U.S. regulators probing JPMorgan for conflicts of interest -report
The U.S. Securities and Exchange Commission is investigating whether JPMorgan Chase & Co inappropriately steered private-banking clients to its own investment products and away from those offered...
View ArticleBahama broker enabled Ponzi scam via fake custody documents – SEC
A Bahamian brokerage and its president enabled a Ponzi scheme that cost investors at least $45 million by falsely claiming to have custody of the scheme's assets under management (AUM), the Securities...
View ArticleFINRA bars three brokers, citing forgery, "fluid samples"
The summer came to an abrupt end for three brokers who were shut out of the brokerage industry after Wall Street's industry funded watchdog found they had engaged in outlandish schemes. Last week was...
View ArticleEXCLUSIVE: Standard Chartered to scour past transactions for money laundering...
Standard Chartered Plc will soon begin sifting through a mountain of data in search of money laundering or other criminal activity, as a result of faults in the software that serves as the backbone of...
View ArticleNew York prosecutors file criminal charges against payday lenders - report
Manhattan prosecutors filed criminal charges against a dozen companies and their owner, Carey Vaughn Brown, accusing them of making payday loans that defied New York's limits on interest rates, the New...
View ArticleU.S. consumer financial watchdog calls bitcoin 'Wild West' of finance
Virtual currencies such as bitcoin are the "Wild West" of financial products because of risks including huge swings in exchange rates, the U.S. Consumer Financial Protection Bureau said on Monday, as...
View ArticleEXCLUSIVE: Private equity seeks assurances from U.S. regulators over loans
The private equity industry's lobbying group met officials from the Office of the Comptroller of the Currency and the Federal Reserve last week to address concerns over a crackdown on junk-rated loans,...
View ArticleChina says over 150 'economic fugitives' at large in the U.S.
More than 150 economic fugitives, many of whom are corrupt officials or suspected of graft in China, are at large in the United States, Chinese state media said on Monday, citing a senior official from...
View ArticleKansas settles SEC probe into pension disclosures in municipal offerings
Kansas will continue making improved disclosures on its pension system's funding strength and on whether any unfunded liabilities create a repayment risk for investors in municipal securities offered...
View ArticleU.S. anti-money laundering unit FinCEN defines 'culture of compliance' for...
"Culture of compliance," a subject addressed in a number of recent speeches by U.S. Treasury and Justice Department officials advising financial institutions on how to avoid enforcement action over...
View ArticleVancouver man committed $65 million investment fraud, BC Securities...
Vancouver Island resident David Michael Michaels committed fraud by manipulating hundreds of ordinary investors, mostly seniors, into buying $65 million worth of high-risk securities, a British...
View ArticleU.S.-UK murder conspiracy plot used Bitcoin for transactions, New Jersey...
Bitcoin, the "virtual currency" is increasingly being used as a payment medium in Web-based and even brick-and-mortar stores, was also the transaction medium for an international murder plot, New...
View ArticleU.S. futures body revokes registration of floor trader for failing to respond
The National Futures Association has revoked the registration of Joel W. Himel, a floor trader at the Chicago Board of Trade, for failing to respond to allegations, NFA said on Tuesday. A designated...
View ArticleU.S. housing finance regulator unveils common-security proposal
The regulator overseeing government-controlled mortgage finance giants Fannie Mae and Freddie Mac on Tuesday unveiled a plan for a common mortgage-backed security and asked investors if the program...
View ArticleNew York SEC official who helped bring exam, enforcement units closer to retire
Robert J. Keyes, a senior officer in the Securities and Exchange Commission's New York regional office who was credited by the agency with forging stronger links between its examination and enforcement...
View ArticleEx-MIT professor, son to plead guilty on hedge fund fraud charges
Two former hedge fund managers who boasted Ivy League credentials and invested some of their clients' money with swindlers Bernard Madoff and Thomas Petters, agreed to plead guilty to criminal charges...
View ArticleBig banks pushing U.S. Fed to delay Volcker rule funds provision - report
Banks are lobbying U.S. policy makers for a delay of up to seven years from a provision requiring them to sell investments in private-equity and venture-capital funds, the Wall Street Journal reported,...
View ArticleU.S. SEC launches "sweep" exams of alternative mutual funds - report
The U.S. Securities and Exchange Commission has begun an anticipated broad examination of alternative mutual funds, the Wall Street Journal reported, citing people familiar with the matter. The...
View ArticleBanks serving pot shops; regulatory guidance having intended effect – U.S....
Some banks are serving state-sanctioned marijuana businesses, even as others have reported finding it necessary to terminate such relationships, a U.S. Treasury Department official said on Tuesday. The...
View ArticleGlobal banks back most of G20 plans to reform forex benchmark
The world's top banks have backed the bulk of recommendations from regulators to reform the setting of the leading global currency benchmark following allegations of market rigging, making changes...
View Article