From prison, Madoff emails support for convicted ex-employees
George Perez, a former computer programmer for Bernard Madoff who was convicted in March of aiding his boss' massive Ponzi scheme, got support from a noteworthy source this week: Madoff himself. In an...
View ArticleNY AG says Citi unit to return $16 million overcharged fees to consumers
Citigroup Global Markets Inc (CGMI), a unit of Citigroup Inc., has agreed to reimburse about $16 million to more than 31,000 customers, who were overcharged for advisory fees, the New York Attorney...
View ArticleGeithner: NY Fed unsure until last minute about AIG loan
Former U.S. Treasury Secretary Timothy Geithner defended the 2008 bailout of American International Group Inc for a second day on Wednesday, struggling at times to respond to increasingly contentious...
View ArticleProceeds of Texas drug trafficking ring were used to buy aircraft,...
A federal grand jury in south Texas has indicted five men for their alleged roles in a drug trafficking and money laundering ring, federal prosecutors in Corpus Christi said Wednesday. The accused...
View ArticleDOJ official warns on the cost of non-compliance: penny wise, billions foolish
Companies conducting high-risk business, especially in corruption-prone jurisdictions, should reevaluate how compliance, legal and internal audit personnel interact with senior management and how the...
View ArticleBanks do not have to treat all money transmitters as high-risk - Treasury...
Banks do not need to treat all money transmitters as high-risk customers for purposes of anti-money laundering compliance, Daniel Glaser, assistant Treasury secretary for terrorist financing said...
View ArticleDeutsche Bank's Swiss unit participating in U.S. tax probe
Deutsche Bank's Swiss unit is working with U.S. officials as part of a crackdown on wealthy Americans evading taxes through hidden offshore accounts, a spokeswoman for the bank said on Thursday. About...
View ArticleU.S. appeals court ruling revives whistleblower suit against JPMorgan
A U.S. appeals court ruling on Thursday revived a lawsuit against JPMorgan Chase & Co filed by a former vice president claiming the bank ignored red flags about a client's potential fraud, even...
View ArticleCFTC sues Chicago broker for trade violations, lax supervision
The compliance officer of a futures brokerage that was a top player in a market on the Chicago Board of Trade floor never reviewed company policies on floor operations or oversaw activities related to...
View ArticleU.S. SEC needs new standards for investing in private deals - panel
U.S. regulators should revisit 1980s-era rules designed to prevent people with limited financial literacy from investing too much of their nest eggs in risky private stock deals, an advisory panel said...
View ArticleEXCLUSIVE: U.S. DEA 'most interested' in U.S. investors in Canadian marijuana...
U.S. investors in Canada's medical marijuana industry are betting they won't fall under the scrutiny of U.S. law enforcement officers, but it's a risky bet. With marijuana still illegal on a federal...
View ArticleU.S. CFTC chief optimistic over deal with EU on clearinghouse rules, warns of...
Most of the differences between the U.S. Commodity Futures Trading Commission and the European Union over rules for swaps clearinghouses can be resolved, commission chairman Timothy Massad said on...
View ArticleBanks accept derivatives rule change to end 'too big to fail' scenario
The $700 trillion financial derivatives industry has agreed to a fundamental rule change from January to help regulators to wind down failed banks without destabilising markets. The International Swaps...
View ArticleDeutsche clampdown on bad behaviour prompts exodus of traders -report
Senior bankers at Deutsche Bank AG are leaving the bank amid a crackdown on bad behaviour by traders, as the bank undergoes a probe by global regulators into allegations of attempts to rig markets, the...
View ArticleInvestment funds will come under new regulatory funds, says Carney
Investment funds will come under increased focus from global financial regulators, the head of a worldwide push to prevent a repeat of the financial crisis said on Sunday. Bank of England Governor Mark...
View ArticleCo-founder of indicted digital money exchange extradited to U.S. from Spain
Spanish authorities have extradited to the United States a co-founder of the digital currency exchange Liberty Reserve to face charges that his creation was an unlawful money-laundering operation, U.S....
View ArticleU.S. and UK to test big-bank collapse in joint model run
Regulators from the United States and the United Kingdom will get together in a war room next week to see if they can cope with any possible fall-out when the next big bank topples over, the two...
View ArticleU.S. SEC warns brokers on risky penny-stock transactions, offers compliance tips
The U.S. Securities and Exchange Commission has sanctioned two broker-dealers for failing in their gatekeeper roles and improperly engaging in unregistered sales of microcap stocks for their customers....
View ArticleEXCLUSIVE: U.S. regulators press banks for more on auto loan exposure to...
U.S. regulators are asking banks for more detail on their autos financing exposure, as rapid growth in the lending has prompted officials to seek to better assess the risks, according to a person...
View ArticleFormer UBS banker fined in Switzerland for handing data to U.S.
A former banker at Switzerland's biggest bank, UBS, has been found guilty of handing over protected Swiss bank account data to the United States, according to a penalty order issued by the Swiss...
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