A former Chicago commodities trader was arrested and charged with fraud for lying to clients about everything from a non-existent collection of 122 luxury cars to phony returns that exceeded 200%. Phillip Galles, 57, was charged in a criminal complaint unsealed Thursday with a ...Read More

Amid the ongoing banking crisis in the United States, financial regulators continue scrutinizing major traditional finance companies like HSBC and Scotiabank. The Securities and Exchange Commission (SEC) has charged HSBC’s securities arm, HSBC Securities (HSI), and Scotiabank’s investment subsidiary, Scotia Capital, with penalties over recordkeeping ...Read More

The case against Tom Brady, Shaquille O’Neal, and other celebrities who promoted FTX has gained the cooperation of the failed crypto exchange’s ex-compliance chief Dan Friedberg, according to an amended complaint filed late Thursday. Friedberg provided evidence showing that important FTX promotional activity took place in ...Read More

Activist investor Carl Icahn’s empire said on Wednesday it is fielding inquiries about its operations from U.S. prosecutors, a week after a short-seller accused it of over-valuing its assets, sending its shares down 18%. Icahn Enterprises LP’s (IEP) revelation that it had received inquiries ...Read More

When First Republic Bank collapsed earlier this week, some bankers like the head of JPMorgan Chase & Co. said they thought the worst of the banking crisis was coming to a close. But the markets are showing investors are still wary. Shares of San Francisco-based PacWest Bancorp ...Read More

As investors focused this week on earnings and regional banks, the Securities and Exchange Commission quietly adopted new rules that will require public companies to disclose far more information about stock buybacks than they ever have before. The new rules “will increase the transparency ...Read More

The Federal Deposit Insurance Corporation (FDIC) has requested Cross River Bank – known for its services to fintech and crypto firms like Visa (NYSE:V) and Coinbase (NASDAQ:COIN) – to “self-correct” and appropriately address weaknesses in its lending activities. On April 28, the FDIC made ...Read More