International painkiller distribution ring laundered millions via...
A federal grand jury in Manhattan has indicted ten people, including two pharmacists and five physicians, on narcotics conspiracy, money laundering and other charges for allegedly allowing people to...
View ArticleTwo ex-brokers charged with insider trading over 2009 IBM deal
Two former stock brokers at a Connecticut financial services company were charged with criminal insider trading on Thursday over a 2009 acquisition by computer giant IBM Corp. U.S. authorities said...
View ArticleFINRA ponders broker bonus disclosure rule
Wall Street's industry-funded watchdog is discussing a possible rule that would require securities brokerages to tell certain customers about compensation offered to brokers for moving to their firms....
View Article'Premier league' offshore centres at forefront of fight against laundering,...
The "premier league" offshore financial centres of Jersey, Guernsey and the Cayman Islands are at the forefront of the fight against money laundering, a conference has heard. Robert Shepherd, managing...
View ArticleU.S. FATCA will be the first of many, conference hears
Firms may have hoped the U.S. Foreign Account Tax Compliance Act would not go ahead but it is now clear that it will and they have little more than a year to comply. Moreover, other jurisdictions are...
View ArticleFormer Social Security official stole victim’s identity to liquidate his...
A former employee of the Social Security Administration in Rhode Island was indicted on Thursday for allegedly stealing the identity of another man in order to sell more than $160,000 worth of stock...
View ArticleU.S. banks must show they are on track for Basel despite rule delays, global...
The largest U.S. banks must show they are on track to meet tight new capital rules despite the fact the United States has delayed the rules, a G20 group monitoring an overhaul of the global financial...
View ArticleMorgan Stanley trader probed over trades made while at Goldman
Morgan Stanley trader Edward Glenn Hadden is under investigation by regulators at CME Group over trades in Treasury futures four years ago while he was employed by Goldman Sachs, according to a...
View ArticleTrio who fired accountants, fleeced investors after Fair Financial takeover...
Three men who were convicted of defrauding investors in a formerly profitable consumer-finance company after firing the company's independent accountants were sentenced Friday to some of the longest...
View ArticleWall Street finds a foreign detour around U.S. derivatives rules
Wall Street banks are looking to help offshore clients sidestep new U.S. rules designed to safeguard the world's $640 trillion over-the-counter derivatives market, taking advantage of an exemption that...
View ArticleUBS near $450 million settlement with U.S., UK over Libor - report
Swiss bank UBS AG is expected to pay more than $450 million to U.S. and British authorities to settle claims some of its employees submitted false Libor rates, the New York Times reported. In June,...
View ArticleUS SEC charges China affiliates of top accounting firms
U.S. regulators on Monday charged the Chinese arms of five top accounting firms with securities violations over their refusal to produce certain audit papers for U.S.-listed Chinese companies. The...
View ArticleTraining and culture vital to ensuring strong compliance, conference hears
The compliance profession is a people industry, and employers need to understand why they are training people and how training will affect their company’s business, said speakers at a Hong Kong...
View ArticleFHFA wins key sampling ruling in cases against banks
A U.S. judge on Monday ruled in favor of a federal regulator wishing to use statistical sampling in its lawsuits against big banks including Credit Suisse Group AG and Bank of America Corp over...
View ArticleCredit agencies win U.S. legal victory on mortgage ratings
Major credit rating agencies won a fresh legal victory on Monday when a federal appeals court rejected a lawsuit by Ohio pension funds that sought to recoup millions of dollars of losses on risky...
View ArticleCanada's OSC takes Ernst & Young to task on Sino-Forest
Canadian regulators said on Monday Ernst & Young had conducted improper audits of Sino-Forest Corp in the years before fraud allegations brought down its client, and the accounting firm said it...
View ArticleNew York futures broker fined $650,000 for not segregating funds
A U.S. federal court has ordered a futures brokerage run by well-known New York trader Mark Fisher to pay $650,000 for not properly segregating customer funds following a complaint filed by the...
View ArticleNew Hampshire investment adviser must pay $1.8 million in ETF case
An investment adviser must pay a total of $1.8 million to a group of investors in a securities arbitration ruling that lawyers say is among the first to involve losses tied to leveraged and inverse...
View ArticleRegulators pledge to avoid cross-border clashes over derivatives
Derivatives regulators from major trading centres promised on Tuesday to minimise cross-border clashes over their new rules to rein in risks in the $640 trillion sector and give industry extra time to...
View ArticleSEC to host decimalization roundtable in February
Staff of the Securities and Exchange Commission will host a roundtable on Feb. 5 to discuss the impact of decimal-based stock trading on small and mid-sized companies, market professionals, investors,...
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