CFTC fines futures broker Mizuho in settlement over secured fund lapses
The Commodity Futures Trading Commission on Thursday sanctioned Mizuho Securities USA Inc. for failing to provide timely notice of secured fund deficiencies and for failing to diligently supervise its...
View ArticleNew rule could turn some U.S. hedge funds into informers
U.S. financial regulators are pushing to turn hedge funds into informers on the white collar crime beat. The Financial Crimes Enforcement Network (FinCEN) is working on a rule that would require at...
View ArticleBasel regulators ease phase-in, instruments in key bank liquidity rule to...
Global regulators gave banks four more years and greater flexibility on Sunday to build up cash buffers so they can use some of their reserves to help struggling economies grow. The pull-back from a...
View ArticlePrivate fund advisers should prepare for thorough exams, lawyers say
The Securities and Exchange Commission has promised minimally intrusive initial examinations of newly registered private fund advisers, but advisers should prepare for more-thorough reviews, lawyers...
View ArticleU.S. regulator sues JPMorgan over WaMu mortgage securities
The U.S. credit union regulator sued JPMorgan and Washington Mutual late Friday over $2.2 billion in mortgage securities sold to credit unions that collapsed because of losses from the securities. The...
View ArticleEx-MLRO loses whistle-blowing claim against Coutts
A money laundering reporting officer who blew the whistle on allegations of widespread money laundering involving Mexican drug cartels at U.S. bank Wachovia has lost an employment hearing against...
View ArticleU.S. SEC taps former CFTC enforcement chief as general counsel
Geoffrey Aronow, the former enforcement director at the U.S. futures regulator, has been tapped to serve as the top lawyer at the Securities and Exchange Commission, the agency said on Monday. Aronow...
View ArticleMorgan Stanley must pay manager $1 million in employment flap
Morgan Stanley must pay $1 million to a former manager who alleged he was wrongfully terminated by the firm, according to a securities arbitration ruling. Gregory Torretta, a 29-year industry veteran,...
View ArticleFormer New Jersey lawyer arrested on charges of $30 million mortgage fraud,...
Federal agents arrested a former New Jersey lawyer on Monday for allegedly conspiring with others in a $30 million mortgage fraud scheme and laundering the proceeds. Michael Rumore, 54, of Lyndhurst,...
View ArticleBank of America reaches $11.6 billion settlement with Fannie Mae over...
Bank of America Corp on Monday entered an $11.6 billion settlement to end Fannie Mae's claims that the bank improperly sold it mortgages that later soured, and to resolve problems with foreclosures,...
View ArticleU.S. Supreme Court to weigh in on SEC powers in Gabelli case
The U.S. Supreme Court will on Tuesday join the legal battle over how much leeway the government should have to conduct investigations and impose civil penalties. Tuesday's case involves whether the...
View ArticleU.S. banks to pay $8.5 billion to end foreclosure reviews
A group of 10 mortgage servicers agreed on Monday to pay a total of $8.5 billion to end a U.S. government-mandated case-by-case review of housing crisis foreclosures in an acknowledgement the program...
View ArticleDeloitte opposes U.S. SEC move to restart China audit-paper case
Accounting giant Deloitte has asked a federal judge to reject a request from the U.S. securities regulator to resume a court case in which it is trying to force the auditor to hand over work papers...
View ArticleGovernments must work more with insurers to combat financial and other risk,...
The World Economic Forum (WEF) has asked governments globally to increase their collaboration with private sector insurers now for high-level risk management. Forum representatives said at the launch...
View ArticleAIG considers joining bailout lawsuit against U.S. government
American International Group Inc, the insurer rescued by the U.S. government in 2008, said on Tuesday it is considering joining a lawsuit that claims the bailout terms were unfair, drawing angry...
View ArticleFormer UBS client In Florida pleads guilty to tax evasion, agrees to $27...
A 79-year-old Florida woman pleaded guilty on Tuesday to criminal charges of tax evasion through accounts at Swiss bank UBS AG, one of the largest such prosecutions in years. Mary Estelle Curran...
View ArticleU.S. Supreme Court skeptical of SEC power in Gabelli case
The U.S. Supreme Court on Tuesday appeared poised to curtail the power of the top federal securities regulator to seek civil penalties after exceeding the usual time limit for fraud investigations. In...
View ArticleOhioans laundered fraudulent tax refund checks through business accounts,...
A man and woman in Ohio have been indicted on identity theft, conspiracy, money laundering and other charges for allegedly conspiring with others to swindle the U.S. government out of hundreds of...
View ArticleFINRA crackdown on complex products, conflicts generates $68 million in...
A crackdown on complex products and conflicts of interests led to greater scrutiny of large brokerages in 2012, the head of Wall Street's industry-funded watchdog said on Tuesday. The Financial...
View ArticleDeutsche Boerse's Clearstream to enter Iran sanction talks with U.S.
Deutsche Boerse said on Wednesday its Clearstream subsidiary is entering into talks with the United States Office of Foreign Assets Control (OFAC) to resolve issues relating to possible violations of...
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