Search Results for: fed
PwC Fights $5.6 Billion Fraud Trial over Taylor Bean’s Collapse
August 11th, 2016
PricewaterhouseCoopers LLP failed to spot for seven years a multibillion-dollar fraud that led to the demise of Taylor Bean & Whitaker Mortgage Corp., a lawyer for the lender’s bankruptcy trustee told a Miami jury on Tuesday. At issue is ...
SEC Charges Former Professional Football Player With Running $10 Million Fraud
August 11th, 2016
The Securities and Exchange Commission today charged Merrill Robertson Jr., a former player for the Philadelphia Eagles, with defrauding investors, including coaches he knew from his time playing football for the Fork Union Military Academy and the University of ...
Saving the system
August 10th, 2016
Monetary policy, we are told, is all about staving off recession and stimulating economic growth. However, not only is monetary debasement in any form counterproductive and destroys the personal wealth of the masses, but the economists who devised today’s ...
Goldman Sachs’s Fight to Avoid Paying Employees’ Legal Fees
August 9th, 2016
We know that paying for a lawyer can be an expensive proposition. The New York Times reported recently that a Turkish gold trader, Reza Zarrab, has hired a veritable who’s who of white-collar defense firms to defend him against charges of ...
Barclays reaches $100M Libor settlement
August 9th, 2016
Barclays Bank PLC (BCS) has agreed to pay $100 million to settle allegations that its manipulation of a global financial benchmark defrauded government entities and non-profit groups across the U.S. Announced Monday, the settlement includes $93.35 million for restitution to victimized groups that agree to opt in and issue releases ...
FINRA Fines Deutsche Bank Securities Inc. $12.5 Million for Inadequate Supervision of Internal Communications
August 9th, 2016
The Financial Industry Regulatory Authority (FINRA) today announced it has fined Deutsche Bank Securities Inc. $12.5 million for significant supervisory failures related to research and trading-related information it disseminated to its employees, called ‘hoots’ or ‘squawks,’ over internal speakers ...
Asia shares up as yield hunt drives record flows, pound slips
August 9th, 2016
Asian shares stood atop one-year peaks on Tuesday as investors’ desperate search for yield drove a record inflow into emerging market funds, while the pound slipped to one-month lows on speculation of further policy easing in the UK. Analysts ...
Goldman Sachs to pay a $36.3 million penalty
August 8th, 2016
The Federal Reserve Board on Wednesday ordered Goldman Sachs Group to pay a $36.3 million civil money penalty for its unauthorized use and disclosure of confidential supervisory information and to implement an enhanced program to ensure the proper use ...
Asian stocks jump to one-year highs as yield hunt spreads
August 8th, 2016
Asian stocks rose to one-year highs and the Australian dollar climbed on Monday as investors’ hunt for yield gathered momentum against a backdrop of a recovering U.S. economy and ultra-easy easy global monetary policy conditions. While the strong July ...
ASIC warns investors about Titantrade.com
August 4th, 2016
ASIC is warning the public not to click on any advertising being marketed under the brand ‘Titantrade’, a website by which trading in binary options is being offered. A binary option is a financial product, in particular a derivative, ...
