Herbalife Trader Sued for Insider Trading Sues SEC Right Back

by The Compliance Exchange on October 21, 2014

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One of my little obsessions is the social relationship of insider trading. Insider trading is so dumb, and can send you to jail for so long, and pretty much requires an accomplice. How do you decide whom to trust with something so momentous, and so dumb? Some people — a lot of people actually — insider trade with their golf buddies. Others insider trade with strangers using Post-it notes that they eat. Both strategies make a kind of sense to me, though I guess I’m more … Read More »

Three banks to be fined by EU for Libor-rigging

by The Compliance Exchange on October 21, 2014

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Three large investment banks will be fined $115 million collectively by the European Union for rigging the Swiss franc Libor benchmark, according to a Reuters report on Tuesday, which cited an anonymous person familiar with the matter. J.P.Morgan Chase & Co. will be fined $89 million, and Credit Suisse and UBS will be … Read More »

SEC Is Steering More Trials to Judges It Appoints

by The Compliance Exchange on October 21, 2014

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The Securities and Exchange Commission is increasingly steering cases to hearings in front of the agency’s appointed administrative judges, who found in its favor in every verdict for the 12 months through September, rather than taking them to federal court.

The winning streak comes amid a marked shift at the … Read More »

Madoff Trustee, Investor Strike Settlement

by The Compliance Exchange on October 21, 2014

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A real-estate developer who invested with Bernard Madoff agreed to return $32.75 million in cash and surrender $29.35 million in claims against the convicted Ponzi-scheme operator’s investment firm under a new settlement.

Irving Picard , the court-appointed official tracking down money for victims of the biggest Ponzi scheme ever, on Friday … Read More »

Forex-Rigging Fines Could Hit $41 Billion Globally: Citi

by The Compliance Exchange on October 21, 2014

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The cost for banks to settle probes into allegations traders rigged foreign-exchange benchmarks could hit as much as $41 billion, Citigroup Inc. (C) analysts said.

Deutsche Bank AG (DBK) is seen as probably the “most impacted” with a fine of as much as 5.1 billion euros ($6.5 billion), Citigroup analysts led … Read More »


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