UBS Loses Court Appeal of $1.4 Billion French Bail Demand
The bank must pay a security deposit to cover a potential fine for alleged money laundering, a Paris court ruled.
Fidelity Co-op Bank Must Set Up $3.5M Investor Relief Fund
The $1.1-billion Ponzi scheme required investments of $280 or $1,375 in TelexFree, according to Massachusetts and federal authorities.
SEC Plans to Hand Out Whopping $30 Million Whistleblower Award
The SEC expects to award a whistleblower more than $30 million for providing key original information that led to a successful enforcement action.
FINRA’s Big-Brokerage Loyalty Revealed in New Bonus Plan: Lawyer
The proposal, which curtails mandatory disclosures, should "leave no doubt" where FINRA’s loyalties lie, lawyer Patrick Burns says; recruiter Jon Henschen argues disclosure is pointless.
Brooklyn Man Passed Illicit Stock Tips on Napkins: SEC
The SEC charged a Brooklyn man with passing tips at Grand Central Terminal as the middleman in a $5.6 million insider trading scheme.
SEC, CFPB Enforcement: AgFeed Fined $18M for Fattening Its Stock Price
Meanwhile, the CFPB sued for-profit chain Corinthian Colleges for predatory lending, and a hedge fund manager was charged with pocketing extra fees.
IRS Finally Answers After-Tax IRA Rollover Question
Can after-tax money in 401(k)s be converted to a Roth IRA tax-free? The IRS has the answer in a just-published guide.
Insider Trader Mostly Unfazed by Co-Worker's Insider Trading Arrest
We present for your reading pleasure: the worst way to insider trade.
SEC Hits New York HFT Firm With Biggest-Ever Net Capital Fine
The SEC has fined a high-frequency trading firm $16 million, the largest penalty ever for a net capital violation.
Knut Calls Out the Brokerage Industry on Fiduciary Standard
Knut Rostad makes the case why a fiduciary standard for all financial advisors is more important than ever today.