Alleged kingpin of U.S. penny stock fraud arrested in Thailand
Authorities in Thailand have arrested a Canadian man accused of masterminding a $140 million plan to defraud investors in U.S. penny stocks, as well as another man who allegedly ran the scheme, federal...
View ArticleBanks made fewer reports of suspected mortgage fraud last year, U.S. Treasury...
The number of bank reports alerting authorities to possible mortgage fraud activity fell by roughly a quarter between 2011 and 2012, the U.S. Treasury Department's anti-money laundering unit said in a...
View ArticleJPMorgan close to picking two new board directors as pressure rises for for...
JPMorgan Chase & Co is close to naming two new directors with finance and risk management expertise to its board, a source close to the matter said, as the largest U.S. bank faces a new wave of...
View ArticleSEC names new head of its investment adviser program
The Securities and Exchange Commission named Jane E. Jarcho as the head of its investment adviser exam program. Jarcho will oversee a staff of approximately 450 lawyers, accountants, and examiners who...
View ArticleU.S. SEC charges ex-Oppenheimer fund manager with misleading investors
U.S. securities regulators charged a former private equity fund manager at Oppenheimer Holdings Inc's Oppenheimer & Co on Tuesday with misleading investors about the valuation and performance of...
View ArticleGoldman Sachs technical fault causes erroneous U.S. option trades
A flood of erroneous trades hit U.S. equity options markets on Tuesday as they opened for business when Goldman Sachs Group sent orders accidentally because of a technical error, the latest trading...
View ArticleU.S. Justice Department chief vows new action against financial firms - report
U.S. Attorney General Eric Holder is preparing to announce new cases related to the economic meltdown in the coming months as the Justice Department nears decisions on a number of probes involving...
View ArticleChina to join global crackdown on tax evasion
China has agreed to join the international effort by the Group of 20 leading economies to combat tax evasion by signing an agreement to share tax records, the OECD said Wednsday. China’s decision means...
View ArticleUK's Serious Fraud Office liaising with U.S. on 'London Whale' case
Britain's Serious Fraud Office is liaising with U.S. counterparts in their investigation into the scandal linked to a trader dubbed the "London Whale" that cost JPMorgan Chase & Co $6.2 billion...
View ArticleU.S. Treasury sanctions former National Guard officer in Venezuela for...
The U.S. Treasury Department on Wednesday blacklisted a former officer in Venezuela's National Guard for his alleged role in drug trafficking and money laundering. Vassyly Kotosky Villarroel Ramirez,...
View ArticleU.S. FDIC to discuss "skin-in-the-game" lending rules
U.S. bank regulators next week will consider a proposal designed to discourage risky lending by forcing banks to keep part of their loans on their books, even after selling them off to be bundled into...
View ArticleCanada to review proxy voting infrastructure
The reliability and integrity of Canada's proxy voting infrastructure needs to be reviewed in light of greater shareholder activism, the Canadian Securities Administrators said in seeking public...
View ArticleGoldman assessing fallout from options trading glitch as regulators begin...
Goldman Sachs Group Inc is assessing the financial damage caused by a trading glitch that led to a flood of erroneous options trades, as U.S. regulators began looking into what caused the problem. On...
View ArticleU.S. consumer bureau faults compliance at non-bank institutions, mortgage...
The U.S. Consumer Financial Protection Bureau criticized compliance standards in mortgage servicers and unregulated lenders and said examinations showed the institutions needed better internal...
View ArticleFund adviser misled board about algorithmic trading ability, SEC says
The Securities and Exchange Commission on Wednesday charged an investment adviser and its former owner with misleading the directors of an investment fund so the board would approve the adviser's...
View ArticleU.S. looks to turn the screw in Swiss banks talks
The United States is pushing Switzerland for a deal to settle a long-running dispute over banks that shelter tax evaders, a Swiss government source said on Thursday, ratcheting up the pressure after...
View ArticleHKMA warns banks to prepare for rise in overseas tax legislation
Hong Kong's banking regulator has told banks in the territory to ensure they are prepared for an increase in foreign legislation related to tax evasion, in particular the U.S. Foreign Account Tax...
View ArticleOutgoing FBI chief stands up for record on Wall Street fraud
FBI Director Robert Mueller sought on Wednesday to dispel any perception among Americans that the bureau and the Justice Department let bankers go free after they helped bring about the U.S. financial...
View ArticleU.S. Treasury targets people and assets linked to Sinaloa Cartel leader
The U.S. Treasury Department on Thursday sanctioned five Mexican nationals who allegedly run businesses linked to Sinaloa Cartel leader Juan Esparragoza Moreno. Treasury's Office of Foreign Assets...
View ArticleMorgan Stanley fined $1 million over bond pricing violations
Morgan Stanley will pay a $1 million fine and compensate harmed investors to settle civil charges that the bank failed to give customers the best market prices for some corporate and municipal bonds,...
View Article