Securities

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Bank Leumi charged with conducting unregistered cross-border U.S. business

Pointing Finger

The Securities and Exchange Commission has announced that Israeli-based Bank Leumi has agreed to pay $1.6m and admit wrongdoing to settle charges that it provided investment advice and induced securities transactions for U.S. customers for more than a decade without registering as an investment adviser or broker-dealer as required under U.S. securities laws.

Deutsche Bank said to probe securities marketing

Deutsche Bank - Foyer Bridge

Deutsche Bank officials are reviewing whether some employees exaggerated demand as they marketed new securities backed by risky auto loans, potentially suppressing yields for investors, according to a person with knowledge of the matter.

SEC builds algorithms to better police securities

Sec Building

The U.S. Securities and Exchange Commission has been building its own algorithms over about the past two years to better police trading of securities tied to mortgages and auto loans. In doing so, it says it’s now uncovered billions of dollars in trades that may raise red flags - from excessive mark-ups on bond sales to possible kickbacks for brokers who act as middlemen.

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