Search Results for: Justice Department
Charges against a $1.2 billion Ponzi scheme targeting thousands of investors
December 22nd, 2017
The Securities and Exchange Commission today announced charges and an asset freeze against a group of unregistered funds and their owner who allegedly bilked thousands of retail investors, many of them seniors, in a $1.2 billion Ponzi scheme. SEC ...
Several current and former KPMG partners face court contempt
December 20th, 2017
Several current and former KPMG partners are facing contempt proceedings in a Hong Kong court, as liquidators for a failed U.S.-listed Chinese company step up their action against the auditor over its refusal to produce Chinese working papers. The ...
Day Trader Charged in Brokerage Account Takeover Scheme
October 31st, 2017
The Securities and Exchange Commission charged a day trader based in the Philadelphia area with participating in a scheme to access the brokerage accounts of more than 100 unwitting victims and make unauthorized trades to artificially affect the stock ...
Regulators release conclusions on the OTC derivatives regulatory regime
June 28th, 2017
The Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) today published conclusions on a joint consultation paper which proposed adjusting the scope of “OTC derivative product” under the over-the-counter (OTC) derivatives regulatory regime (Note 1). ...
HSBC faces fresh legal battle over forex manipulation allegation
June 7th, 2017
HSBC is facing a fresh law suit over allegations of forex manipulation. The bank’s traders are being accused of manipulating the markets for their own profit more than a decade ago, according to the Financial Times. ECU Group, a ...
Sullivan & Cromwell to open Brussels office with antitrust hire
May 22nd, 2017
Sullivan & Cromwell, the US corporate law firm, has poached a senior European competition lawyer to open its first new office in nearly two decades based in Brussels. Michael Rosenthal is joining S & C as partner to work ...
European Energy Exchange acquires 100% ownership of US Nodal Exchange
May 5th, 2017
The European Energy Exchange (EEX), part of Deutsche Börse Group, and the owners of US-based Nodal Exchange Holdings, LLC have successfully closed the transaction under which EEX has acquired 100% of the equity in Nodal Exchange. All remaining regulatory ...
Italy court acquits S&P in credit rating case
March 31st, 2017
A judge for the criminal division of the Tribunal of Trani on Thursday acquitted Standard & Poor (S&P) officials over market manipulation charges. The credit rating agency was accused of contributing to the economic woes suffered by the country by ...
100 investors lost more than $15 million in stock fraud
March 27th, 2017
The office of the U.S. Attorney for the Southern District of New York has issued an announcement to inform that investment adviser and broker found guilty in Manhattan Federal Court of securities fraud, wire fraud, conspiracy and aggravated identity ...
The Russian “Laundromat” exposed; how the complex money laundering scheme worked
March 23rd, 2017
Three years after the “Laundromat” was exposed as a criminal financial vehicle to move vast sums of money out of Russia, journalists now know how the complex scheme worked – including who ended up with the $20.8 billion and ...
