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FERC Proposes $470 Million Fine in Barclays Energy Market Manipulation Case
Fueled with trader communications that included “gonna try to crap on NP light and it should drive the SP light lower” and “fuckked with the Palo mrkt,” the ...
FDIC Files Lawsuit Against Colonial Bank’s Auditors
Colonial Bank was the largest bank failure of 2009. Colonial had a lot of competition in a year that claimed 140 banks. But Colonial had help, having purchased roughly $1 billion ...
Rochdale Loss Blamed on “Rogue” Trader
A trade gone wrong endangers an investment company. In a world of high-speed trades and limited controls, this sadly isn’t news. It seems even large investment firms are just ...
Citigroup Fined $2 Million for Analysts’ Leaks
Not one, but two, confidential information leaks cost Citigroup Global Markets $2 million this week. In one case, a junior analyst shared confidential information about Facebook with ...
FINRA Finally Shuts Down EKN Financial Services
EKN Financial Serivices (formerly known as Ehrenkrantz King Nussbaum Inc) had accumulated a dubious regulatory rap sheet over the years. But the Financial Industry Regulatory Agency decided ...
Nomura Fined $3.8 Million For Leaking Client Information to Traders
The Japan Securities Dealers Association fined Nomura Holdings $3.8 million, the largest fine handed down by the regulatory group in more than a decade. The fine follows disclosures ...
Fat Finger Wipes Out $58 Billion of India’s Stock Market Value
It took less than a minue for India’s Nifty Fifty Index to drop nearly 16%. And it took erroneous trades totallying only $125 million to temporarily wipe out $58 billion in ...
Investors Lose $1.7 Million in Fraudulent Indiana Forex Scheme
Saint Lucia is a lovely place to spend your honeymoon. Just ask Lyndsay Sayer. According to the Securities and Exchange Commission, Sayer allegedly used investors’ money to ...
Merrill Lynch Fined $500K for Not Reporting “Problem” Brokers
Would you like to know if your broker was previously sued by a client or accused of being an ax-murderer? Under the rules of the Financial Industry Regulatory Authority (FINRA) you ...
New York Firm Fined $5.9 Million for Allowing Market Manipulation
The Securities and Exchange Commision charged New York-based broker Hold Brothers On-Line Investment Services with “allowing traders outside the U.S. to access the markets and ...