Intuit Denies Putting Profit Before TurboTax User Security
Intuit Inc., maker of TurboTax, denied claims that it prioritized the processing of fraudulent state and federal tax refunds at the expense of customers.
NY Attorney General Floats Whistleblower Incentive Bill
Whistleblower law "will be the strongest, most comprehensive in the nation, and is long overdue for a state with the world’s most important financial markets."
Fiduciaries to Pay $39M for Raiding Death Benefit Plans; Outcry Over DOL Rule Continues
A federal court entered a $39.8 million judgment in favor of workers who participated in more than 400 death benefit plans.
Enforcement Roundup: Ex-CCO Sues Over ‘Defamatory’ Form U5
In another action, the SEC charged five offshore entities with offering and selling unregistered penny stocks.
Ex-Broker Charged With Stealing $1M From Retired Doctor, Wife
The former UBS broker persuaded a retired pediatrician and his wife to invest $1 million in a purported fund, New York Attorney General Schneiderman says.
SEC, FINRA Enforcement: Franklin Resources, Chairman Sued for $150M Over Long-Ago Stock Bequest
In another action, FINRA expelled a firm for stock manipulation and barred its CEO, who looted the firm to pay for tattoos and pet care.
Morgan Stanley Fires Employee Accused of Stealing Client Data
Morgan Stanley fired an employee it said stole data, including account numbers, for as many as 350,000 wealth management clients.
SEC Enforcement Roundup: Twitter, Facebook Pre-IPO Fraud
SEC moves on a Ponzi-like social media IPO fraud case and multiple instances of alleged insider trading.
FINRA Assumes Regulatory, Insider Trading Role for Options
Deal announced with CBOE and C2 Options exchanges will allow regulator to conduct cross-market surveillance on both options and equity insider trading.
FINRA Bars Ex-Broker for Stealing From Elderly Customer
Ex-Wells Fargo broker Jeffrey McClure was permanently barred from the industry for using nearly $89,000 in an elderly client's blank checks for his own expenses.