Deutsche Bank Slides on Report N.Y. Fed Faulted Oversight

by The Compliance Exchange on July 23, 2014

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Deutsche Bank AG fell in New York trading after the Wall Street Journal said that bank overseers faulted some of the firm’s businesses in the U.S. last year for “inaccurate and unreliable” financial reports.

A Federal Reserve Bank of New York review of the company’s U.S. operations also found they suffer from inadequate oversight and auditing, as well as weak technology, the newspaper said, citing documents it reviewed. Deutsche Bank’s American depositary receipts declined 2.9 percent today to $34.80 in New York, the biggest drop in more than a … Read More »

Two Famous Faces From The Financial Crisis Executed A Deal Today That Reportedly Made One A Billion Dollars Richer

by The Compliance Exchange on July 23, 2014

John Thain was CEO of Merrill Lynch in 2008 as it crumbled and sold itself to Bank of America.

Meanwhile, John Paulson was shorting mortgages and becoming a billionaire as the housing market collapsed.

Both participated in the latest consolidative move in the financial … Read More »

Ex-Evercore Banker Has Airtight-ish Excuse For Insider Trading In Baby Mama’s Account

by The Compliance Exchange on July 23, 2014

In court today, where he pleaded guilty, Frank Perkins Hixon Jr. laid out his thinking:

- This wasn’t about avarice, it was about love

- All he was trying to do was set up a nest egg for the woman with whom he had a two year affair, and their love child

- But because his … Read More »

U.S. Poised to Label MetLife a Potential Threat to the Financial System

by The Compliance Exchange on July 23, 2014

A U.S. council of regulators is poised to label MetLife Inc. a potential threat to the financial system, subjecting the insurer to oversight by the Federal Reserve, two people with knowledge of the matter said.

A decision by the Financial Stability Oversight Council may come as early as July … Read More »

SEC Charges Penny Stock Company CEO and Purported Business Partner for Defrauding Investors With False Press Releases

by The Compliance Exchange on July 22, 2014

The Securities and Exchange Commission today charged a serial con artist and a penny stock company CEO with misleading investors in a supposed vaccine development company by issuing false press releases portraying it as a successful venture when it was in fact a failing enterprise.

The SEC alleges that Christopher … Read More »


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