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News & Commentary
Content tagged with Compliance posted in September 2007
Morgan Stanley to pay $12.5 million fine to settle 9/11 e-mail charges
News  |  9/27/2007  | 
Morgan Stanley has agreed to pay $12.5 million to settle a case brought by the Financial Industry Regulatory Authority (formerly NASD) for failing to produce pre-9/11 e-mails to regulators and investor plaintiffs, while claiming that the destruction of the firm's email servers in the Sept. 11, 2001 terrorist attacks on New York's World Trade Center resulted in the loss of all pre-9/11 email.
Trading Bonuses: What Can You Expect To Bring Home This Year?
News  |  9/26/2007  | 
With the credit crisis battering fixed-income desks and quantitative hedge funds, Wall Street traders are going to see their bonuses shrink in 2007 as sell-side firms recover from the turmoil and position their desks for 2008.
SEC May Act Too Fast in International Insider-Trading Cases like Dow Jones
News  |  9/25/2007  | 
The U.S. Securities and Exchange Commission (SEC)'s complaint in May against a Hong Kong couple for insider trading of Dow Jones stock may have come up against a brick wall.
SEC Scrutinizes Hedge Funds for Insider Trading
News  |  9/19/2007  | 
The U.S. Securities and Exchange Commission (SEC) is scrutinizing hedge funds for signs of insider trading. The regulator has been sending out a 27-page letter to registered advisers, asking them for information about relationships between managers, employees, family members and public companies.
Regulator charges Morgan Stanley over Cold Calls
News  |  9/12/2007  | 
Massachusetts' top securities regulator has charged Morgan Stanley and two Boston employees with illegally contacting clients by cold-calling people who posted resumes on the CareerBuilder.com Web site.
SEC Continues to Encourage Interactive Filing, as NYSE Becomes First Exchange to Sign Up
News  |  9/12/2007  | 
As it continues to encourage XBRL filing, the Securities and Exchange Commission (SEC) has announced that NYSE Euronext has become the first stock exchange to submit financial reporting information using interactive data.
SEC Fights Senior Citizen Fraud, Chairman Cox Speaks of Personal Experience
News  |  9/10/2007  | 
The number of baby boomers reaching retirement is on the rise; so is the number of senior citizens being swindled. Now, the SEC has approved a ruling by the Financial Industry Regulatory Authority (formerly NASD) to ensure that securities firms use appropriate sales practices when dealing with people nearing retirement.
Former Morgan Stanley Finance VP and Husband Plead Guilty to Insider Trading
News  |  9/7/2007  | 
A former Morgan Stanley finance vice president and her husband, an ex-hedge fund analyst at ING Investment Management, have pleaded guilty to conspiracy and insider trading. The couple, Jennifer Wang, 31, and Ruben Chen, 34, of Englishtown, N.J., face from 30 months to 37 months in prison and fines of as much as $5 million.
Regulators Fine AXA Advisors $1.2 Million for Fee-Based Account Violations
News  |  9/6/2007  | 
The Financial Industry Regulatory Authority (formerly NASD) has fined AXA Advisors $1.2 million for failing to adequately supervise its fee-based brokerage business and distributing misleading sales literature.
SEC Charges Boston Stock Exchange and ex pres Crofwell with Surveillance Failures
News  |  9/5/2007  | 
The Securities and Exchange Commission (SEC) has charged the Boston Stock Exchange (BSE) and its former president James B. Crofwell for failing to enforce Exchange rules to prevent specialists from trading for their own accounts ahead of marketable customer orders.
NYSE Heads out to China
News  |  9/5/2007  | 
The China Securities Regulatory Commission (CSRC) has approved NYSE Euronext, the operator of the New York Stock Exchange, to become the first foreign stock exchange to open a representative office in China.

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