Displaying 10262 results
Ex-broker at GunnAllen, Ameriprise sentenced to eight years in prison
A Southern New Jersey securities broker who operated a $1.8 million investment fraud scheme has been sentenced to more than eight years in prison.
UBS fined $13.3M over unauthorized trades in clients’ accounts
Swiss bank UBS AG has been fined 8 million pounds ($13.3 million) for management failures which allowed employees to make unauthorized trades with customers' accounts, Britain's financial regulator said Thursday.
ICI: Transaction tax would take big bite out of fund returns
High on the mutual fund industry's “to do” list is defeating legislation that would impose a $150 billion-per-year tax on securities transactions.
Power 20
The 20 most influential people in the advisory industry
Former Merrill broker accuses firm of a cover-up in Finra inquiry
A former Merrill Lynch broker has accused the firm of interfering with a regulatory inquiry into a case in which it allegedly skirted responsibility for advice given on a tax loss trade.
Two former Stanford reps slammed with suit for more than $11M
The receiver overseeing R. Allen Stanford's businesses announced Thursday that he is suing two former employees of the Texas financier's capital management firm for more than $11 million.
Latest attorney dumped by Stanford: ‘Like Christmas in March’
Apparently, the jailed financier, who is going through lawyers like bottles of bubbly, has his own ideas about what his courtroom strategy should be. Next up: legal team #4
Tipped off by Madoff documentary, elderly investor uncovers New Zealand’s biggest fraud ever
Similarities between New York's Ponzi King and and an Auckland investment manager led an elderly client to contact officials. Guess what?
Prison fight — not high blood pressure — sent Bernie Madoff to the hospital
Contrary to what his lawyer indicated at the time, the Ponzi king apparently got crowned in big house bust-up in December
Fla. man admits role in $20M N.J. stock scheme
Federal prosecutors in New Jersey say a Florida man has admitted his role in a $20 million stock fraud and money laundering scheme.
As rules change, a watchdog growls
New accounting rules and underpriced universal life insurance are just a couple of the issues keeping Joseph M. Belth up at night.
Fund manager gets 14 years in $33M Ponzi scheme
An investment fund manager from Tennessee drew a 14-year prison sentence Wednesday in a $33 million Ponzi scheme that cheated more than two dozen investors in the United States, Germany and Costa Rica.
Bernanke defends Fed’s role
The chairman of the Federal Reserve is concerned that congressional efforts at financial reform could weaken the central bank's ability to handle future crises and may politicize monetary policy.
Fund manager gets 15 years in prison for $35M scam
A Philadelphia-area fund manager has been sentenced to 15 years in prison for running a Ponzi scheme that cheated investors out of $35 million.
Feds charge Conn. man with running a Ponzi scheme for 12 years
Federal authorities today charged a Connecticut man with running a Ponzi scheme that allegedly bilked investors out of $20 million over nearly 12 years.
ARS battle no easy win for large investors
Two recent legal victories by securities firms involving the sale of auction rate securities suggest that institutional investors could find it tough to prevail in similar battles.
Adviser groups blow tops over House bill’s ‘hat-switching’ clause
Investment adviser groups are up in arms about a one-sentence provision buried in the sweeping financial services reform legislation approved last week by the House of Representatives.
Bill targeting independent contractors could pit unions against advisers
Sen. John Kerry of Massachusetts will look at whether financial advisers should continue to be classified as independent contractors.
Calif. woman, 62, owns up to investment scam
An Emeryville, Calif., woman remains in federal custody after prosecutors say she admitted to defrauding hundreds of investors out of more than $8 million.
State Street settles lawsuit, bulks up legal reserve
State Street Corp. will pay $89.75 million to settle a class-action lawsuit with a group of employee benefit plans invested in certain active fixed-income strategies managed by its SSgA unit, confirmed Arlene Roberts, State Street spokeswoman.
