A Massachusetts investment advisor has pleaded guilty to multiple counts of fraud and other charges after a failed attempt to flee the country while he was awaiting trial. Steven Xigoros, of Lowell, Mass., is facing up to 25 years in prison for defrauding clients ...Read More

Grayscale Investments filed its first brief last week in its legal battle with the Securities and Exchange Commission over the agency’s refusal to let it convert its bitcoin fund into an exchange-traded fund. In an interview Monday for Yahoo Finance’s All Markets Summit, Grayscale CEO Michael Sonnenshein ...Read More

State Street Corp. said it appointed Yvette Hollingsworth Clark as its new global chief compliance officer. Ms. Hollingsworth Clark comes to the financial services company from technology giant Alphabet Inc., where she most recently served as the head of compliance for Google’s consumer trust business. Before Google, Ms. Hollingsworth ...Read More

The SEC’s recent announcement of $1.8 billion in fines against 16 financial institutions over electronic communications violations have revealed widespread and firmwide compliance failures at all levels. Maintaining records of advisor-client interactions may seem an arcane area of financial regulation, but the SEC views ...Read More

A blockchain linked to Binance, the world’s largest crypto exchange, has been hit by a $570 million hack, a Binance spokesperson said on Friday, the latest in a series of hacks to hit the crypto sector this year. Binance CEO Changpeng Zhao said in ...Read More

Billionaire investor Ray Dalio announced Tuesday that he is giving up control of Bridgewater Associates, the world’s largest hedge fund. Why it matters: This is the final step in Dalio relieving control of the firm he founded, transitioning $150 billion in assets to the next generation of leaders. ...Read More

On Sept. 27 the Securities and Exchange Commission and the Commodity Futures Trading Commission collectively announced a combined $1.8 billion in fines against more than two dozen Wall Street firms for failing to maintain and preserve electronic communications. The charges stem from record-keeping failures and use of unapproved communication methods, ...Read More