Britain Fines Former Top Executive at J.C. Flowers
Britain’s financial regulator has levied a £2.87 million fine against Ravi Sinha, a former top executive at the private equity firm J.C. Flowers, for using a fraudulent invoicing scheme to pocket...
View ArticleBank of America: Too Crooked to Fail
The bank has defrauded everyone from investors and insurers to homeowners and the unemployedThe post Bank of America: Too Crooked to Fail appeared first on The Wall Street Job Report.
View ArticleFSA Slaps Record Fine on Hedge Fund CEO
The FSA today issued the penalty to Alberto Micalizzi, who is the chief executive of Dynamic Decisions Capital Management and an academic at Bocconi University’s graduate business school.The post FSA...
View ArticleWall Street News 6/28/2012
Cooperman Says Earning 13% In Stocks Takes ‘Average IQ & More Wall Street News For The Day The post Wall Street News 6/28/2012 appeared first on The Wall Street Job Report.
View ArticleGoldman Sachs aims to end the era of horrifying trader chat transcripts
Your big mouth get can you in trouble, even if you think you’re talking in private: Just ask the long line of bankers whose chat transcripts have been used by law enforcement to ding their employers....
View ArticleClik here to view.
Broker has Libor fine reduced to £630,000 after warning of collapse
City regulators have been forced to reduce a £3.6m fine for rigging Liborimposed on City broking house RP Martin because the broker said it faced collapse if it had to pay the full sum demanded. The...
View ArticleClik here to view.
Citigroup may pay $7 billion to resolve U.S. mortgage probes
Citigroup Inc is close to paying about $7 billion to resolve a U.S. probe into whether it defrauded investors on billions of dollars worth of mortgage securities in the run-up to the financial crisis,...
View ArticleClik here to view.
Credit Suisse Set for Biggest Loss Since 2008 on Tax Fine
Credit Suisse Group AG is poised to report its biggest quarterly loss since the collapse of Lehman Brothers Holdings Inc. after being fined $2.6 billion for helping American clients evade taxes. The...
View ArticleClik here to view.
Lloyds Lambasted With £300m Libor Lashing
Bailed-out Lloyds Banking Group appears poised to become the latest financial firm to be penalised for rigging Libor and is said to be facing a fine of between £200m and £300m. The bank, 24% owned by...
View ArticleClik here to view.
Ex-broker fined $850,000 for scheme to profit from terminally ill
A former broker who masterminded an annuity scheme to profit from the deaths of terminally ill patients has agreed to an $850,000 fine and to be banned from the securities industry, the U.S....
View ArticleClik here to view.
Forex-Rigging Fines Could Hit $41 Billion Globally: Citi
The cost for banks to settle probes into allegations traders rigged foreign-exchange benchmarks could hit as much as $41 billion, Citigroup Inc. (C) analysts said. Deutsche Bank AG (DBK) is seen as...
View ArticleClik here to view.
Citigroup to pay $15 million for analyst supervision lapses – FINRA
A unit of Citigroup Inc (C.N) must pay a $15 million (10 million pound) fine for not adequately supervising communications among its equity research analysts, clients and the firm’s sales and trading...
View ArticleClik here to view.
Honda Hit With $70 Million Fine For Failing To Report Deaths
Honda Motor Co has agreed to pay $70 million in penalties to the U.S. government for failing to report hundreds of injuries, deaths and other consumer claims involving its cars, transportation...
View ArticleClik here to view.
Pattern of Disobedience at Direct Edge Spurs Record Fine
The record fine recently slapped on two U.S. stock exchanges was the result of a history of failing to meet regulators’ demands, according to people familiar with the matter. In January, the Securities...
View ArticleClik here to view.
Barclays set for record UK bank fine
The City watchdog is expected to hand out its biggest-ever fine to Barclays on Wednesday as the British bank becomes the last major financial institution to settle foreign exchange rigging allegations...
View ArticleClik here to view.
Co-Op Bank escapes fine despite drug scandal, failings
Co-operative Bank will not be fined for failings which helped push the bank to the brink of collapse before it was bailed out by bondholders, Britain’s financial regulator said on Tuesday. The...
View ArticleClik here to view.
FINRA Sanctions Edward Jones $13.5M
FINRA hit five broker-dealers with $18 million in sanctions for overcharging clients and charities on mutual funds. Edward Jones faces the largest penalty: $13.5 million. Stifel was hit with $2.9...
View ArticleClik here to view.
PHH to pay $28 million fine over mortgage practices, NY governor says
(Reuters) – PHH Corp will pay a $28 million fine after examiners uncovered “persistent shortcomings” in its mortgage origination and servicing practices, New York Governor Andrew Cuomo announced on...
View ArticleClik here to view.
Lloyds Lambasted With £300m Libor Lashing
Bailed-out Lloyds Banking Group appears poised to become the latest financial firm to be penalised for rigging Libor and is said to be facing a fine of between £200m and £300m. The bank, 24% owned by...
View ArticleClik here to view.
PwC Fined $6.6 Million in Largest-Ever Penalty From Watchdog
PricewaterhouseCoopers LLP was fined 5.1 million pounds ($6.6 million) for misconduct over its audit of RSM Tenon Group Plc in the largest-ever sanction issued by the U.K. accounting regulator. The...
View Article