How to minimize risk of employee misconduct
A U.S. broker has been charged with stealing money from clients to pay his personal mortgage and travel costs. He also operated a "Ponzi-like" scheme.
Francis Martin Florey was quickly caught and fined by FINRA for both impersonating a wealthy client and attempting to steal their funds.
The LIBOR scandal chipped away at investors; confidence in the financial market, so the CFA Institute offers some suggestions on how to reform the system.
The OSC is preparing to sanction co-founder Michael Mendelson. It will also focus on Portus itself in coming months.
I wouldn’t want to be a Barclays advisor. Even before the LIBOR scandal, the embattled bank was accused of money laundering, tax avoidance and conflicts of interest.
The head of Barclays’ retail and business banking operations is moving on up; he’s been named as its new chief executive. Antony Jenkins will fill the post vacated recently by Bob Diamond, in the wake of a scandal over attempts to manipulate LIBOR. “We have made serious mistakes in recent years and clearly failed to […]
Barclays’ regulatory woes continue to pile up. A new probe is being launched by the Serious Fraud Office (SFO) in the U.K. for the British bank’s bail-out by the Middle East in 2008. The inquiry focuses on the disclosures of commission payments made by Barclays to secure the bail-out funds totaling £11.5 billion (about $18 […]
The Ontario Securities Commission (OSC) has found Chinese shoemaker Zungui Haixi Corporation and its two founders, Yanda Cai and Fengyi Cai, guilty of fraud. Specifically, they “have demonstrated a total and continuing disregard for their obligations under Ontario Securities law” and “have demonstrated from their conduct that they are fundamentally ungovernable,” says the OSC. The […]
Ontario Securities Commission has approved settlement with Boaz Manor and other key figures in the multimillion-dollar Portus financial scandal.