Even if you don’t particularly like Senator Elizabeth Warren we may need her to fight against any Congressional rollback of Dodd Frank and other rules and regulations

by Jack J. Kelly on November 25, 2014

While the Republicans won control of the Senate and Congress we became a little worried about the potential repealing of new rules and regulations, especially a roll-back of Dodd Frank. (Please watch our video here).

Putting politic aside (in full disclosure I lean more towards Libertarian and Republican), as a Recruiter of Compliance … Read More »

Compliance Around The World China: China’s ‘Fox Hunt’ Grabs 288 Suspects In Worldwide Anti-Graft Net

by The Compliance Exchange on November 25, 2014

fox hunt chinaChina has arrested 288 fugitives suspected of committing economic crimes as part of an aggressive anti-corruption effort aimed at individuals who have fled abroad, the official government news agency Xinhua said.

The campaign, dubbed Operation Fox Hunt, included the surrender of 126 suspects, Xinhua said, citing China’s Ministry of Public Security.

China … Read More »

Compliance Around The World Australia: ANZ Suspends Seven Traders Amid Rate Fixing Probe

by The Compliance Exchange on November 25, 2014

ANZ Bank has stood down seven staff on full pay in its ­markets business as it braces for possible criminal and civil prosecutions arising from a cont­inuing investigation by the corporate watchdog into ­manipulation of a benchmark local interest rate.

ANZ is the first local bank to be targeted in an investigation by … Read More »

Compliance Around The World Tokyo: Bank of Tokyo to Pay $315 Million to N.Y. Regulator

by The Compliance Exchange on November 25, 2014

Bank of Tokyo-Mitsubishi UFJ has agreed to pay $315 million to New York’s banking regulator for submitting a whitewashed report about its improper handling of transactions involving countries subject to U.S. sanctions, the regulator said.

The report formed the basis for a $250 million settlement the bank reached last year with New York’s … Read More »

Compliance Briefs

by The Compliance Exchange on November 25, 2014

CME’s Market Surveillance Found Lacking by its Chief Regulator

CME Group Inc. (CME)’s efforts to police its exchanges, which are some of the biggest in the world, should be improved, according to its primary regulator.

Although CME generally meets its surveillance obligations, shortcomings include taking too long to finish probes, having insufficient investigators and imposing … Read More »

Compliance Briefs

by admin on November 25, 2014

Citigroup Fined

Citigroup Inc. (C), the third-biggest U.S. bank, was fined $15 million by the Financial Industry Regulatory Authority for failing to supervise research analysts and their handling of material non-public information.

The lender didn’t adequately protect against “potential selective dissemination of non-public research to clients and sales and trading staff” from January 2005 to … Read More »

Hedge Fund Manager Takes A Bold Stand Against Long Lines At Airports

by admin on November 25, 2014

It’s an all-too-familiar scene to travelers: you get off a long flight, wind your way through the various airport nightmares, and finally arrive at the car rental counter, only to discover an endless line and one or two people manning the booth.

It’s infuriating, sure. But what can you do?

It turns out you can … Read More »

CFTC tells CME Group to work more on ‘spoofing’ detection

by admin on November 25, 2014

CME Group Inc, the world’s largest futures market operator, should continue to develop strategies to detect an illegal manipulative trading practice known as “spoofing,” the U.S.Commodity Futures Trading Commission said on Monday.

Spoofing involves rapidly placing orders to create the … Read More »

Elizabeth Warren Tells NY Fed President: Fix Your Problems, Or We’ll Find Someone Who Will

by The Compliance Exchange on November 25, 2014

scott pilgrim animated GIF

William Dudley, President and the CEO of the Federal Reserve Bank of New York, and Elizabeth Warren.

The president of the Federal Reserve Bank of New York faced a … Read More »

Exclusive: Ex-broker must pay $2 million to former NBA player

by admin on November 25, 2014

A former securities broker that regulators said took part in a multi-million dollar fraud against professional athletes must pay $2 million to former NBA player Sam Young, an arbitration panel ruled on Monday.

Young’s professional basketball career has included stints with the Indiana Pacers and San Antonio Spurs. He was among dozens of … Read More »



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