Traffickers forced enslaved prostitutes to wire earnings to Mexico,...
Three Mexican brothers on Monday pleaded guilty to human trafficking charges, admitting they smuggled victims as young as 14 years old into the United States and forced them to work as prostitutes,...
View ArticleCompliance staff face new pressure from boards for depth, technology awareness
The expansion of regulation has created opportunities for compliance officers to liaise with other business functions and to have access to the board. But it has also created new compliance challenges...
View ArticleTrade group SIFMA names ex-U.S. Sen. Gregg as CEO, splits leadership roles to...
SIFMA, the U.S. securities industry's largest trade group, named former U.S. Senator Judd Gregg as chief executive officer, in a move that may signal a desire to mend fences with ordinary Americans and...
View ArticleU.S. Supreme Court agrees to hear Fidelity whistleblower case
In a case involving whistleblowers at Fidelity Investments, the U.S. Supreme Court on Monday agreed to consider whether mutual fund employees are subject to the same whistleblower protections as...
View ArticleCFTC rules on swaps trading put demands on compliance oversight
New U.S. rules requiring many over-the-counter derivatives to be traded on swap execution facilities and exchanges will have a major impact on the compliance and risk processes of market participants....
View ArticleLuxembourg agrees to end bank secrecy with U.S. authorities
Luxembourg has agreed to automatically exchange information with United States tax authorities about the bank accounts held by U.S. citizens and residents, the finance ministry said on Tuesday. In...
View ArticleU.S. Treasury's Lew says foreign officials too critical on swaps rules
Foreign countries are being too critical and potentially hurting delicate negotiations with U.S. regulators over how broadly they should apply new over-the-counter derivatives rules to trades that cut...
View ArticleRisk assessments the key to avoiding regulatory 'snowballs' says UK lawyer
Financial services firms need to conduct proper risk assessments on their businesses to avoid being caught up in regulatory "snowballs", according to a senior UK lawyer. Martin Saunders, a litigation...
View ArticleCalifornia lawyer laundered market manipulation proceeds through bank and...
A California lawyer as convicted this week of conspiracy, fraud, money laundering and other charges for running a five-year, multimillion-dollar market manipulation scheme, the Justice Department said...
View ArticleEx-strategist can sue UBS as whistleblower - U.S. judge
UBS AG lost a bid Tuesday to dismiss a whistle-blower lawsuit by a former commercial mortgage-backed securities strategist who said he was fired for refusing to publish misleading research reports....
View ArticleU.S. prosecutors consider using racketeering law against SAC, source says
U.S. prosecutors are considering charging Steven A. Cohen's SAC Capital Advisors as a criminal enterprise engaged in a long pattern of insider trading in stocks, according to a person familiar with the...
View ArticleU.S. consumer bureau issues guidelines for coordination with state financial...
The U.S. Consumer Financial Protection bureau on Tuesday said it had established a process for coordinating with state bank and nonbank regulators on supervision and enforcement matters in areas of...
View ArticleSecurities firms must better explain risk to customers, FINRA's Ketchum says
While firms have made improvements in how they handle compliance responsibilities in the last 10 years, they still have more work to do clarifying what they are selling to their customers, FINRA's...
View ArticleDimon keeps JPMorgan chairman title after bruising battle
Jamie Dimon, JPMorgan Chase & Co's outspoken chairman and chief executive, won a vote of confidence on Tuesday as shareholders recommended that he keep his chairman title, giving him a greater...
View ArticleFINRA fines LPL Financial $9 million for email violations
LPL Financial LLC must pay a total of $9 million for significant email system failures and making misstatements to the Financial Industry Regulatory Authority, Wall Street's watchdog. LPL, an affiliate...
View ArticleWall St. watchdog FINRA to review broker bonus disclosure plan in July
Wall Street's watchdog will present a plan to its board in July that would require brokers to tell certain clients about compensation they receive when they switch firms, the regulator's chief said on...
View ArticleU.S. Congress moves to tighten sanctions on Iran
A U.S. House of Representatives committee approved legislation on Wednesday seeking to impose tighter sanctions on Iran, the latest congressional effort to slow development of the Islamic Republic's...
View ArticleSwiss banks fear heavy fines in U.S. tax deal - sources
Swiss banks fear heavy fines they expect to pay to settle a long-running dispute with U.S. authorities over helping wealthy Americans evade tax could hit smaller lenders particularly hard, sources...
View ArticleAIG eyes new director with regulatory experience
American International Group Inc's board is looking for a new director with regulatory experience, as the insurer readies for the government to classify it as big enough to merit greater scrutiny,...
View ArticleSEC charges South Miami with fraud over debt deals
The city of South Miami, Florida, defrauded investors by not disclosing problems with the tax-exempt status of two bond deals, U.S. securities regulators said on Wednesday in their second municipal...
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