Former BofA Exec Sentenced Over Muni Bond Fraud
The 26-month prison sentence is tied to an eight-year scheme that involved 18 people and one corporation, the DOJ says.
Nobody’s Worried About ‘Too Big to Jail’ Anymore
A criminal guilty plea no longer comes with the expectation that it will destroy a bank.
Banks Primed to ‘Collapse Like a House of Cards,’ Banking Expert Warns
Stanford professor Anat Admati warns that the financial system is primed to experience another collapse, with little likelihood of averting the danger.
The Biggest Lie of the New Century
The claim that bank executives did nothing illegal during the financial crisis is simply implausible if not laughable, Barry Ritholtz writes.
Customer Demand Drives Banks’ Transformation: KPMG Survey
Nearly a third of banks say wealth management will be a top source of revenue growth in the next few years.
SEC Enforcement: Court Stops Muni Bond Offer Seen as Fraudulent
In other actions, former brokers were charged with illegally trading on a tip about a $1.2 billion acquisition by IBM.
5 Key Traits of Fastest Growing Bank Wealth Managers
Fidelity study names five traits that set thriving bank wealth practices apart — size and location weren't among them — and their five biggest challenges.
SEC Enforcement: Advisor Should’ve Just Said No; Filmmaker’s Funding Efforts Flop
An end-times video game company and former Qualcomm executive are among others in the SEC's sights this week.
Sallie Krawcheck: Top 10 Reasons It’s Bad to Pay Bankers in Stock
Krawcheck says it’s time for large banks’ boards to come up with new payment strategies for executives, such as bonds, “which are fundamentally risk-discouraging.”
SEC, FINRA Enforcement Roundup: Shareholder Suit Against UBS Reinstated
In recent enforcement news, an appeals court reinstated a suit against UBS subsidiaries by two Puerto Rico-based pension funds over a $757 million bond purchase.