SEC, FINRA Enforcement: Advisor to NFL, NBA Players Barred Amid Fraud Case
FINRA banned a former advisor to athletes, like Brandon Knight of the Detroit Pistons, after he skipped a hearing in an $18 million fraud case.
Wire Transfer Fraud Threat Is Very Real, Says Tom Giachetti
It's real, dangerous and often overlooked by advisors. Where are regulators and law enforcement officials? “There’s not a whole lot they can do,” he says.
Vatican Bank Faces Uncertainty in Wake of Scandals
Failure to heed international regulations on money laundering and corruption can be hazardous to a bank’s health, even if your bank is called the Institute for the Works of Religion, aka the Vatican bank.
Expat Americans, Foreign Banks Heave Under IRS Pressure
FATCA, newly delayed until July 2014, will require foreign financial institutions to report on U.S. citizens’ holdings or pay a steep withholding tax.
Your Clients and Their Children: Solutions to Joint Bank Accounts
Here are three less risky, more efficient solutions to an aging parent's wish to make bank accounts into joint accounts with their children.
SEC, FINRA, State Exam Execs Lay Out Priorities
Priorities include conflicts of interest, email retention, cybersecurity and some specific products, the executives said at the IRI legal and regulatory conference.
Your Clients and Their Children: The Problems With Joint Bank Accounts
Some of your older clients might want to make their bank accounts into joint accounts with their children. Understandable, but perhaps not wise.
SEC Enforcement: Broker Busted for Lying to Investigators
Among recent enforcement actions by the SEC were charges against a Florida-based stock promoter for lying to SEC investigators and suspension of trade of 61 shell companies to preclude fraud.
SEC Enforcement: Oil Firm Busted for Bribing Iran Official; Goldman VP Settles Pay-to-Play Charge
Among recent actions by the SEC were charges against a French oil and gas company for bribery and against a Dallas-based trader for front-running. Also, a former Goldman Sachs vice president agreed to settle earlier pay-to-play charges.
FINRA on Record Enforcement Pace in ’13, Enforcement Chief Says
“FINRA enforcement continues to have a strong caseload, with a record number of cases on the same pace this year as last,” said Brad Bennett, FINRA’s chief of enforcement.