Enforcement Roundup: Defense Contractor Fined for ‘World Tour’ of Bribery
Meanwhile, FINRA fined Newbridge Securities Corp. for buying and selling corporate bonds at unfair prices.
Bracing for the Next Wave of 401(k) Lawsuits
The 10 largest class-action settlements of ERISA claims topped $1.3 billion in 2014, almost 10 times the sum of the biggest settlements in 2013.
BNY Mellon to Pay $714M for Bilking Forex Customers
Bank of New York Mellon will repay $84 million to customers it admitted to defrauding through its "standing instruction" foreign exchange trading program.
GOP Reps Demand Proof DOL Didn’t Go It Alone on Fiduciary
Lawmakers tell Secretary Perez to hand over SEC correspondence, but advocates say Congress’ efforts to stall the fiduciary redraft are futile.
U.S. Chamber of Commerce Vows to Use ‘Every Tool’ Against DOL Fiduciary Plan
Meanwhile, ex-EBSA chief Brad Campbell hopes the plan won't block investors from receiving IRA rollover advice.
Enforcement: Broker Convicted of Bilking Elderly Relatives in Fake Hedge Fund
Meanwhile, Goodyear agreed to pay $16 million to the SEC to settle bribery charges.
DOL Urged to Hold Off on Proposed Fee Guide
A group of business organizations turned up the heat this week in its campaign against a proposed DOL fee disclosure guide.
DOL Fiduciary Redraft Still Coming in January: OMB
An update from the OMB shows the DOL still plans a January release, despite speculation to the contrary.
Two Other BD Issues Still Loom
The independent broker-dealer community has consistently and loudly derided the Department of Labor's on-again, off-again plan to redefine fiduciary under the Employee Retirement Income Security Act. In late October, Labor Secretary Thomas Perez said the department continues to “reach out to stakeholders” regarding the redraft of its rule so that...
SEC, DOL Enforcement: Ex-Mayor Fined for Misleading Movie Studio Investors
Meanwhile, two Canadian citizens were charged with conducting an international microcap fraud scheme.