S.E.C. Makes Largest Ever Whistle-Blower Award

by The Compliance Exchange on September 23, 2014

The identity is a mystery, but someone who provided important information to regulators in a securities fraud enforcement action is suddenly $30 million richer thanks to a federal whistle-blower law.

The Securities and Exchange Commission announced on Monday that it had approved a payment of between $30 million and $35 million to an unnamed individual who lives in a foreign country, for providing information that helped federal authorities “detect an ongoing fraud.”

The award is … Read More »

German Prosecutors Charge Deutsche Bank Executives

by The Compliance Exchange on September 23, 2014

German prosecutors filed criminal charges on Tuesday against the co-chief executive of Deutsche Bank​, Jürgen Fitschen, ​and several former bank leaders, accusing them of colluding to give false testimony in a long-running lawsuit over the collapse of a bank client’s media … Read More »

Deutsche Bank says trader dismissed over irregular trade records

by The Compliance Exchange on September 23, 2014

Deutsche Bank AG (DBK) currency trader was dismissed earlier this year after internal checks uncovered irregularities around how he recorded trades, the bank said.

Andy Donaldson was suspended in June and dismissed shortly after, Sydney-based Adrian Cox, a Deutsche Bank spokesman, confirmed by phone today. Donaldson didn’t immediately respond to voicemails left … Read More »

Wall St whistleblower launches fusillade at NYSE

by The Compliance Exchange on September 23, 2014

Whistleblower Haim Bodek now wants to cut the Big Board down to size — and he has a fighting chance with regulators in his corner, say Wall Street veterans.

The former Goldman Sachs and UBS trader-turned-high-profile-mole last week launched a fusillade at the already battered New York Stock Exchange, saying … Read More »

Barclays fined $62 million for client fund failings

by The Compliance Exchange on September 23, 2014

British bank Barclays (L:BARC) was fined 38 million pounds ($62 million) on Tuesday for exposing customers to unnecessary risks by failing to ensure client assets were properly safeguarded and adequate records kept.

Imposing its … Read More »

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