Free Financial Advice? What Could Be Better for Consumers?
Excising the requirement that professionals act in clients’ best interests would make society much more efficient, and save the Treasury billions!
SEC Enforcement: Golf Buddies Charged in Insider Trading Ring
In other actions, a former New Mexico governor was charged in a microcap scheme.
The FBI Ran an Ultimate Fighting Pump-and-Dump Scam
Bloomberg View blogger Matt Levine on how the FBI took over a shell company and busted five stock promoters.
FBI Sting Busts Group of 5 for Microcap Fraud
The SEC and FBI warn that more undercover operations aimed at market manipulation and insider trading could be underway.
Rengan Rajaratnam Cleared of Insider-Trading Conspiracy
Rengan Rajaratnam, the brother of Galleon Group co-founder Raj Rajaratnam, has been found not guilty.
Icahn’s Poker Buddy’s Golf Buddy Never Traded Clorox Stock
This case is not just embarrassing for Phil Mickelson, Billy Walters and Carl Icahn; it's also counterproductive for the purposes of insider-trading enforcement.
High-Speed Trading Rules Coming From SEC, White Says
The SEC chief unveiled the regulator’s most sweeping plan yet for reining in high-frequency trading and monitoring secretive trading practices.
Top 25 Best Cities for Millennials to Live
For financial advisors looking for hotbeds of up-and-coming clients, check out these rankings from Niche Local.
Citigroup Shares Rise as Profit, Revenue Beat Estimates
Citigroup Inc. rose as much as 4.6%, the most in more than 15 months, after the bank posted a surprise increase in first-quarter profit and revenue.
Former NAPFA Chairman Mark Spangler Sentenced to 16 Years in Prison
Spangler was convicted of fraud and money laundering; the long sentence reflects his lack of remorse, the judge reportedly said.