Benjamin M. Lawsky, New York Superintendent of Financial Services, issued the following statement Tuesday:
The Securities and Exchange Commission today charged Wells Fargo’s brokerage firm and a former vice president for selling investments tied to mortgage-backed securities without fully understanding their complexity or disclosing the risks to investors.
It's Jamie Dimon time.
A former Bank of America municipal bond marketer testified that he conspired with four former members of the UBS municipal derivatives group to rig bids and fabricate work on transactions.
Paul Ryan, Mitt Romney's vice-presidential running mate, sold stock in US banks on the same day he attended a confidential meeting where top level officials disclosed the sector was heading for a deep crisis.
Regulations put in place to protect investors after $862bn of market value was briefly erased on May 6, 2010, were the same rules that almost ruined Knight Capital this month.
Peregrine Financial Group founder and chief executive Russell Wasendorf Sr was indicted on charges of lying to regulators, a little over a month after he botched a suicide attempt and confessed to bilking customers of his brokerage for years.
An outstanding effort from this team in HR (hit the link to see the exclusive picture).
This firm has a lower stock price-to-book ratio less than 141 financial firms listed in the 152-company Bloomberg World Bank Index.
But will he love New York ?
Two members of a debt-focused trading unit at UBS left the firm last week following the departure of the team’s leader in January.
Jurors who convicted ex-Goldman Sachs programmer Sergey Aleynikov said they struggled to find a crime in his copying of the bank’s high frequency trading code.
BNP Paribas was sentenced to five years probation by a U.S. judge on Friday in connection with a record $8.9bn settlement resolving claims that it violated sanctions against Sudan, Cuba and Iran.