Search Results for: Department of Justice
New York investigating Exxon over climate statements: source
November 6th, 2015
The New York attorney general has launched an investigation into whether Exxon Mobil Corp (XOM.N) misled the public and shareholders about the risks of climate change. Attorney General Eric Schneiderman subpoenaed the company on Wednesday evening, demanding extensive financial ...
BaFin and the SEC: An international comparison of supervisory practice
November 3rd, 2015
The Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) is often compared to the U.S. Securities and Exchange Commission (SEC) in the media and by the public. The SEC is frequently perceived as the more powerful authority, in ...
UBS to Pay $19.5 Million Settlement Involving Notes Linked to Forex trading strategy
October 14th, 2015
Case Is Agency’s First Against an Issuer of Retail Structured Notes The Securities and Exchange Commission today announced that UBS AG has agreed to pay $19.5 million to settle charges that it made false or misleading statements and omissions ...
Goldman Sachs under FBI, U.S. DOJ scrutiny over 1MDB probe
October 14th, 2015
The Federal Bureau of Investigation and the U.S. Department of Justice are examining Goldman Sachs Group Inc’s role in allegations of corruption and money laundering at Malaysian state investor 1Malaysia Development Bhd (1MDB), the Wall Street Journal reported on ...
Banks Finalize $1.86 Billion Credit-Swaps Settlement
October 2nd, 2015
Suit claimed banks conspired to prevent competition Wall Street’s biggest banks have agreed to pay $1.86 billion to settle accusations that they conspired to prevent competition in the credit-derivatives markets, according to plaintiff lawyers in the private lawsuit. Twelve ...
VW scandal: what the emissions revelations mean
September 23rd, 2015
The carmaker’s rigging of emissions data in the US could have serious repercussions around the world – and not just for Volkswagen What has Volkswagen done? The US Environmental Protection Agency (EPA) said on Friday that Volkswagen had installed illegal ...
Deutsche Bank to close almost all Russian operations: sources
September 15th, 2015
Deutsche Bank (DBKGn.DE) has decided to close its Russian operations, apart from transaction banking services, two financial sources told Reuters on Monday. Such a move would make Russia the first casualty of a sweeping plan to shrink the group’s ...
Millenium Capital Exchange CEO Sentenced to Federal Prison for Running Forex Ponzi Scheme
September 3rd, 2015
Stafford S. Maxwell, the former owner and Chief Executive Officer of Millennium Capital Exchange, Inc., was sentenced to three years, nine months years in prison for orchestrating a multi-million dollar foreign exchange market Ponzi scheme. “With false promises of ...
Serious Fraud Office interviews Deutsche Bank traders as it steps up criminal probe into Libor rigging
August 27th, 2015
The Serious Fraud Office has interviewed present and former Deutsche Bank traders as it steps up its criminal probe into the manipulation of Libor interest rates. At least one banker is thought to have been interviewed under caution, meaning ...
Exchanges, Barclays win dismissal of U.S. high-frequency trading case
August 27th, 2015
Major U.S. stock exchanges and Barclays Plc on Wednesday won the dismissal of nationwide litigation in which pension funds and other investors accused them of rigging markets to benefit high-frequency traders. U.S. District Judge Jesse Furman in Manhattan said ...
