FI E&O News
Why Credit Suisse Got a Bigger Penalty than UBS: Lack of Cooperation Tied to Swiss Laws
U.S. prosecutors first raised the specter of a criminal plea by Credit Suisse Group AG more than two years after starting an investigation into whether the Swiss bank had helped wealthy Americans ...
Judge: Corzine, Ex-MF Global Execs Can Tap More Insurance Funds for Defense
Jon Corzine and other former insiders of collapsed brokerage MF Global can tap another $10 million of insurance funds to defend lawsuits accusing them of hastening the firm's downfall, a U.S judge ...
FINRA Probing Abusive Trades Based on Mathematical Algorithms
Wall Street's self-regulator is cracking down on abusive trades made on the basis of mathematical algorithms and currently has some 170 ongoing investigations into the subject, its chief said on ...
Suit Against JPMorgan, CEO Over Whale Losses Can Proceed; Directors Case Dismissed
JPMorgan Chase & Co must face a lawsuit from shareholders accusing it of securities fraud by misleading them about its ability to manage risk, which surfaced when it lost $6.2 billion in the ...
MF Global Alleges ‘Erroneous Accounting Advice’ in $1B Suit Against PwC
MF Global Holdings Ltd., which filed for bankruptcy after a failed $6.3 billion bet on bonds of some of Europe's most indebted nations, sued PricewaterhouseCoopers LLP for $1 billion, alleging ...
Study of Possible Wall Street Broker Conflicts Leaked; Authors Warn Against Quick Judgments
A new academic paper about potential conflict of interest in large retail brokers' routing of limit orders has stirred controversy on Wall Street and caught regulators' attention—even before the ...
FOREX Market Lawsuits Mount
As investigations into alleged manipulation of the global foreign exchange market advance, class actions against the world's biggest banks are piling up, exposing the banks to potentially billions of ...
FINRA, SEC Targeting Firms Giving Bad 401(k) Rollover Advice
Brokers who give retiring workers bad advice about what to do with their 401(k) plans should expect some headaches: U.S. securities regulators are taking a closer look at what happens when investors ...