Two SEC cases warn of crackdown, burdens on dually registered advisers over...
The Securities and Exchange Commission is cracking down on dually registered investment advisers over providing best execution for their clients, two SEC officials warned on Wednesday. The warning came...
View ArticleExplosion of market-based financing is stretching regulators, says IOSCO chair
The explosion of banking sector regulation in the wake of the financial crisis is driving a shift towards market-based financing — that is, financing using debt and capital markets — and away from...
View ArticleGlobal compliance spend on the increase, finds survey
Global compliance spending is on the increase according to a Deloitte survey, which suggests that two thirds of financial services firms have seen an upswing in expenditure over the past three years....
View ArticleCitigroup to pay $10.75 million in arbitration over investor's losses in RBS
Citigroup Inc was ordered to pay $10.75 million to a former customer over losses from investments in Royal Bank of Scotland Group PLC RBS.L, which was bailed out after 2008 financial crash, The...
View ArticleCanadian securities regulator alleges that former geologist, wife engaged in...
The British Columbia Securities Commission (BCSC) has accused a former consulting geologist of providing illicit information to his wife for the purposes of insider trading. According to a notice of...
View ArticleAlberta Securities Commission issues sanctions over Ponzi scheme
The Alberta Securities Commission (ASC) has sanctioned Dale Joseph Edgar St. Jean, Gregory Dennis Tindall, TransCap Corporation (TCC) and Strata-Trade Corporation (STC) for capital-market misconduct...
View ArticleNew York probing how banks use databases to screen customers - report
New York's attorney general is investigating six of the top U.S. banks over reports that they are unfairly using databases to disqualify people seeking to open checking or savings accounts, the New...
View ArticleU.S. judge rejects FINRA arbitration ruling against investor in Goldman case
A federal judge late on Thursday tossed out a securities arbitration ruling against an investor who sought to recoup $1.4 million from Goldman Sachs Group Inc, citing an arbitrator's failure to fully...
View ArticleWall Street group SIFMA seeks end of exchange self-regulation
The largest U.S. securities trade group asked regulators on Thursday to end the self-regulatory status of stock exchanges, saying the structure is outdated, creates conflicts of interest, and should be...
View ArticleSEC wins as ex-Goldman executive Tourre found liable for fraud
A jury found former Goldman Sachs Group Inc vice president Fabrice Tourre liable for fraud for his role in a failed mortgage deal that cost investors $1 billion, in a big victory for the U.S....
View ArticleCFTC probing Treasury futures trading that led to halt at CME
U.S. futures regulators are reviewing trades that triggered a brief halt in trading at CME Group's markets for Treasury futures just as the U.S. government was poised to release key data on the jobs...
View ArticleWall Street watchdog to review tactic for cleaning broker records
Wall Street's industry-funded regulator, FINRA, will review a controversial practice in arbitration cases that critics say makes it too easy for brokers to scrub some black marks from their records,...
View ArticleBrazil enacts tough anti-bribery law required by OECD
Bribing a public official in Brazil could become a very onerous mistake for local and foreign businesses under a law enacted on Friday that for the first time makes companies liable for bribes paid by...
View ArticleU.S. lawmakers want perjury probe for Corzine
A group of Republican lawmakers called on Friday for a criminal investigation of Jon Corzine, the head of failed futures broker MF Global, saying he may have committed perjury when speaking before...
View ArticleU.S. says states' lawsuits vs S&P belong in state courts
The U.S. government, which is pursuing a $5 billion lawsuit accusing Standard & Poor's of misleading investors by inflating its credit ratings, on Friday asked a federal judge move similar cases by...
View ArticleSAC lawyers support delay in civil case against firm's founder - RTRS
Lawyers for SAC Capital Advisors founder Steven A. Cohen expressed support for a government motion to delay insider trading civil proceedings against Cohen, pending related criminal charges against his...
View ArticleTexas bank and conservative groups to appeal Dodd-Frank ruling
A group that failed to overturn key provisions in the Dodd-Frank Act in a U.S. federal court is appealing the ruling, the group's lawyer said. The group, which includes a Texas community bank, the...
View ArticleHSBC says could take $1.6 billion hit on U.S lawsuit
HSBC Holdings, Europe's biggest bank, said it could take a hit of up to $1.6 billion in a settlement with a U.S. regulator over allegations it mis-sold mortgage-backed bonds during the housing bubble....
View ArticleFINRA fines Oppenheimer $1.4 million, links unregistered penny stock sales to...
Oppenheimer & Co., Inc. has agreed to pay more than $1.4 million and hire an independent compliance consultant to settle allegations that failures in its anti-money laundering program permitted the...
View ArticleBanks to review PEPs as HSBC drops "risky" customers, says lawyer
HSBC's decision to end up to 40 business relationships with UK-based embassies and consulates due to regulatory concerns is a trend that is likely to continue in other sectors, according to a lawyer....
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