Oppenheimer & Co. fined $1M by FINRA
Oppenheimer & Co. Inc. has agreed to pay $1 million to settle charges it produced "flawed, incomplete and untimely data" in breakpoint self-assessment, the Financial Industry Regulatory Authority said.
MiFID Uncertainty Persists as Implementation Day Approaches
With the implementation of the Markets in Financial Instruments Directive (MiFID) just days away, a new study has found that a massive 93% of financial services institutions do not believe that MiFID will be consistently implemented and enforced across Europe.
Regulator Probes Bear Stearns
Bear Stearns is being investigated by Massachusetts securities regulators over whether the bank improperly traded with two in-house hedge funds that collapsed last summer, burdening investors with added losses.
SEC sues New York Hedge Fund Over Illegal Trades
The Securities and Exchange Commission (SEC), which recently heightened its scrutiny of the hedge fund industry, is suing a New York hedge fund and its principal, alleging the fund made more than $1.48 million in profits from illegal trading.
Regulators slap Morgan Stanley with another $7.5 million fine
Morgan Stanley has agreed to pay a $7.5 million fine to settle charges that over a five year period it provided customers with insufficient written trade confirmations for municipal securities and bonds, the Securities and Exchange Commission (SEC) said. It is the second, unrelated but substantial fine that Morgan Stanley has settled in less than two weeks.
EU Regulators Probe Thomson-Reuters deal
The European Commission has opened an in-depth investigation into the $18.4 billion takeover of Reuters by Canadian financial information company Thomson, saying the merger raises "serious doubts" about fair competition in the financial information business.
Pump-and-dump spam down 30 percent following SEC drive
Pump-and-dump spam touting particular stocks has become one of the most common type of nuisance e-mail worldwide.
But the Securities and Exchange Commission (SEC)'s anti-spam drive, code-named Operation Spamalot, has now caused a massive drop in this type of spam, according to new findings.
SEC Enforcement Cases Rise for the first time Since 2003
The U.S. Securities and Exchange Commission (SEC) has been particularly busy this year, increasing enforcement actions in fiscal 2007 for the first time in four years.
Accusations against companies or individuals have ranged from charges of insider trading to backdating of stock options...