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Ex-Nebraska fullback to face fraud charges in investment scam
A judge has decided prosecutors have enough evidence to try two former Nebraska City brokers accused of defrauding investors out of more than $20 million.
SocGen probing private banking account in Singapore
The French bank says it's conducting an internal audit after uncovering 'anomalies' in the account. Clients have been notified.
Court ruling lays mutual funds open to whistle-blowers
District judge rejects Fidelity's argument, says fund company employees are covered by Sarbanes-Oxley; ruling 'will increase transparency'
SEC rule would narrow the price gaps in ETFs
The Securities and Exchange Commission is looking at a rule that would make it more difficult for asset…
SEC, IRS to crack down on muni bond shenanigans
The Securities and Exchange Commission and the Internal Revenue Service have agreed to work more closely together to…
If disclosed, 12(b)-1 fee is legitimate charge for honest service rendered
I don't understand the flap about service fees, and think that Blaine F. Aiken was wrong about many of his assumptions and representations (the Fiduciary Corner column “Let's say goodbye to 12(b)-1 fees,” which appeared in the Jan. 18 issue).
Denied: Stanford judge won’t grant mistrial in shredding case
A federal judge has refused to grant a mistrial despite signs that a Miami jury is struggling to reach a verdict in the Stanford document shredding case.
Schapiro: SEC will act on 12(b)-1 fees this year
The Securities and Exchange Commission will reassess the 12(b)-1 fees collected by brokers as compensation for selling and servicing mutual funds, SEC Chairman Mary Schapiro said today.
Senators aim to put squeeze on Antigua over Stanford assets
Eight U.S. senators want Congress to oppose International Money Fund and World Bank loans to the government of Antigua and Barbuda until that government compensates victims of Stanford Financial Group. Stanford International Bank was located in Antigua.
Schwab faces millions in claims over YieldPlus
The Charles Schwab Corp. could be liable for millions in investors' claims over losses to a short-term-bond fund that blew up this year because of its exposure to mortgage-backed securities.
SEC’s Schapiro: We’re looking at conduct of some Wall Street firms
The agency's boss says the securities regulator is examing the actions of several companies in the run-up to the financial crisis
SIPC warns of web scam targeting Madoff victims
Look-alike site claims to have recovered $1.3B stash from a 'Madoff' hideout in Malaysia. It's also offering burned investors a chance to apply for some of that cash.
Financial Crisis 2? TARP cop says sequel a real possibility
The government's response to the financial meltdown has made it more likely the United States will face a deeper crisis in the future, an independent watchdog at the Treasury Department warned. The problems that led to the last crisis have not yet been addressed, and in some cases have grown worse, says Neil Barofsky, the special inspector general for the trouble asset relief program, or TARP. The quarterly report to Congress was released Sunday.
Administration pitches funneling repaid TARP funds to local banks
President Barack Obama's bid to sell his economic agenda and re-energize voters picks up in politically significant New Hampshire, where he will again promote an idea to free up money for small businesses that are hurting.
Bank failures rising: Eight states sinking
The FDIC seized another four banks late last week, bringing the year's tally to 41. And there's plenty more where that came from -- especially in these states.
Red-faced governor rejiggers rules after embezzler gets $9.1M ‘green’ tax credit
Convicted felon owes $96K in restitution to victims -- but still swung a tax break from the state
FDIC playing dangerous game of kick the can with problem banks, critic says
The FDIC labels more than 700 U.S. banks as 'problems'. Nearly 10% could fail. Meanwhile, one analysts claims regulators are hoping the economic turnaround will bail out the bad banks. It better.
Obama administration unveils plan to shrink home loans
After months of criticism that it hasn't done enough to prevent foreclosures, the Obama administration is announcing a plan to reduce the amount some troubled borrowers owe on their home loans.
Dodd bill sails through banking committee
Republican members failed to set off any fireworks. Bankers, on the other hand, were quick to torch the bill.
Ohio adviser/coffee shop investor charged with $39M fraud
The SEC claims the unregistered investment adviser promised clients he'd put their money into safe investments. Instead, he allegedly poured the cash into start-up coffee shops, real estate, and his own pocket.
