Marijuana Investing: Why Advisors Should Just Say No
Advisors can't in good faith recommend an investment that's still illegal, lawyer David Welch says, but they can help position clients for eventual legalization.
DOL Shouldn't Rubber-Stamp Waivers for Guilty Banks, Democrats Say
Sen. Warren and others want DOL to hold a hearing on waivers requested by four megabanks to remain “qualified professional asset managers” despite guilty pleas.
Banks Will Keep Doing FX Stuff That Got Them in Trouble
Every banking scandal brings tension between up-in-arms regulators and banks, who are like, "What? This? We've done this forever. We thought it was fine."
Bank Overseer Lawsky to Depart, After Making New York $6B Richer
Benjamin Lawsky will step down next month as New York’s top bank regulator. He plans to set up a cybersecurity consulting firm.
Six Banks to Pay $5.8 Billion, 5 Plead Guilty to Market Rigging
The charges and settlement are tied to the banks' manipulation of foreign-exchange trading, according to the Justice Department.
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.
Citigroup Says U.S. Declines to Prosecute on Libor Rigging
The Justice Department advised the bank that it made the decision “based on the facts and circumstances."
SEC: CCO Should Have Active Role in Cybersecurity
While a cyberattack is not a matter of "if" but "when," catastrophic attacks are unlikely, security expert Ronald Rowe said in an ICI panel discussion.
JPMorgan Profit Rises 12% on Gains From Stock, Bond Trading
The bank boosts earnings on asset management 11% to $502 million, as total assets for the unit hit $1.8 trillion.