Compliance/Fraud

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Former SEC Chair Lauds Whistleblower Payouts

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Former SEC Chairman Mary Schapiro said Tuesday two of the biggest gains the five-year old Dodd-Frank financial reform act gave the SEC were the ability to regulate hedge funds and give rewards to...

JPMorgan Executives Deposed In SEC Asset-Management Probe

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The SEC reportedly is looking at whether the asset-management unit at the bank developed a policy to improperly steer clients into investments for JPMorgan’s own financial gain.

Tilton's Patriarch Partners Accused Of $200M Fraud By SEC

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Financial advisor Lynn Tilton has been accused by the SEC of improperly collecting $200 million in fees by misstating the value of pooled corporate loans.

Former N.Y. B-D Execs Jailed For Venezuelan Bribe Scheme

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Two former executives of a defunct Wall Street broker-dealer were sentenced to prison for participating in a scheme to pay $5 million in bribes to an official at a Venezuelan state economic...

Dodd-Frank Co-Author Disappointed On Pay Votes, Cites Fund Managers

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An architect of the shareholder votes companies hold on executive compensation said he is "disappointed" they have not led to more changes, noting that wealthy mutual fund company leaders make weak...

Seniors May Reach Too Far For Yield, Regulator Says

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Banks should be cautious in marketing investment products to seniors who are trying to “reach for yield,” Office of the Comptroller of the Currency Thomas Curry said.

Ameriprise Pays $27.5M to Settle 401(k) Case

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The lawsuit was brought by Ameriprise employees under the Employee Retirement Income Security Act of 1974.

Oppenheimer To Pay Fine For Lax Supervision Of Broadway Scam Broker

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Wall Street's watchdog fined Oppenheimer & Co $3.75 million for failing to supervise a former broker now serving a prison sentence for defrauding producers of "Rebecca -- The Musical."

BlackRock Urges Stress Tests Of Mutual Funds In Query

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BlackRock endorsed stress tests of mutual funds and reiterated its view that individual asset managers don’t pose a risk to the financial system.

Former Broker Indicted For Allegedly Gambling Clients' Money Away

by FA Staff

The New Jersey man, described by authorities as a professional gambler, was charged with using his clients' money for travel, entertainment and gambling.

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