It Pays to Fight Back Against SEC, FINRA: Survey
Nearly half of advisors, BDs and their reps that litigated got off lighter than they would have if they had settled, a Sutherland study found.
SEC Enforcement: Ohio Advisor Hid Shortfall in Client Assets
Meanwhile, the SEC charged a hedge fund advisory firm and its execs with faking earnings.
Ex-SAC Fund Manager Martoma Found Guilty in Insider Trading Case
Former SAC Capital Advisors LP fund manager Mathew Martoma was found guilty in the most lucrative insider-trading scheme ever
BofA Should Pay $2.1 Billion in Fraud Case, U.S. Says
BofA’s Countrywide unit should pay the maximum of $2.1 billion in penalties for selling defective mortgage loans to Fannie and Freddie, the U.S. said.
Detroit Eligible for Bankruptcy, Judge Rules
Detroit is eligible to shed billions in debt in the largest public bankruptcy in U.S. history, a judge said Tuesday in a long-awaited decision.
Court Upholds CFTC Commodity Pool Rule; Rejects ICI Appeal
A federal appeals court on Tuesday upheld new CFTC rules that will require many investment companies to register as commodity pools.
SEC Enforcement Roundup: Ralph Lauren Corp. Admits to Bribing Argentine Officials
Recent actions include a nonprosecution agreement with Ralph Lauren Corp. in a bribery case and the halting of an immigration scheme.
Bruce Bent Cleared in SEC Fraud Charges
Bruce Bent, founder of the first money market fund, was cleared of fraud charges Monday after the SEC alleged that he deceived investors leading up to the Primary Reserve Fund “breaking the buck.”
3 States Join Suit Challenging a Part of Dodd-Frank’s Constitutionality
Three states joined a lawsuit filed in federal court in Washington, D.C., that asked the court to review the constitutionality of the Orderly Liquidation Authority, established under Dodd-Frank.
SEC, FINRA Enforcement Roundup: Doctors Fined for Insider Trading
Recent actions also include fines for a medical device company accused of bribing the Mexican government and a suit filed by an investment company against breakaway brokers.