Updated Friday, December 6, 2013 as of 9:13 AM ET
The regulatory authority says Atlanta-based J.P. Turner -- which ranked No. 59 on Financial Planning's annual list of independent B-Ds -- generated $500,000 in improper mutual fund sales commissions and caused net losses to its customers of $200,000.
more »
More in Regulatory/Compliance
Former Bear Stearns managing director Roberto “Bobby” Ruiz was sentenced Tuesday to two years in federal prison for his role in a massive El Paso County corruption case that led to numerous convictions of public officials. more »
Deutsche Bank AG, Europe’s biggest investment bank by revenue, barred multi-party chat rooms at its fixed-income and currency trading businesses as regulators continued punishing banks for alleged rate-rigging. more »
Deutsche Bank AG and Royal Bank of Scotland Group are among six companies fined a record 1.7 billion euros ($2.3 billion) by the European Union for rigging interest rates linked to Libor. more »
Wall Street banks, which already shut proprietary trading units that helped fuel record profits, are girding to learn next week how much revenue the Volcker rule may cut from the $44 billion they say comes from market-making. more »
Ernst & Young agreed to pay investors $99 million to settle litigation over its auditing of the bankrupt Lehman Brothers Holdings, according to a filing in federal court in Manhattan. more »
The U.S. Treasury Department has signed intergovernmental agreements with the Cayman Islands and Costa Rica in an effort to combat offshore tax evasion as part of the implementation of the Foreign Account Tax Compliance Act. more »
JPMorgan Chase and Goldman Sachs Group, the world’s biggest trading firms, had their revised capital plans for 2013 cleared by the Federal Reserve on Monday, a month before next year’s submissions are required. more »
The bank said the U.S. government’s move to add one of its executives as a defendant in a fraud lawsuit suggests retaliation after the bank said it was suspending settlement negotiations. more »
McGraw Hill Financial’s Standard & Poor’s unit said the U.S. government has broadened the securities covered in its fraud lawsuit against the ratings company so that the case would be unmanageable at trial. more »
The SEC asked Morgan Stanley about “multiple significant deficiencies” in its financial reporting after the firm corrected accounting errors involving loan cash flows, income taxes and derivatives contracts. more »
Bank of America, the second- biggest U.S. lender, agreed to pay government-backed Freddie Mac $404 million to resolve mortgage-repurchase claims. more »
The top U.S. derivatives regulator gave Wall Street two months to abide by a new policy imposing Dodd-Frank Act rules on banks when they arrange trades domestically and then book them overseas. more »
A former employee at an Ohio branch of U.S. Bancorp pleaded guilty Friday to charges that he accepted $24,000 in kickbacks from debt collectors in exchange for giving them business. more »
Current Issue
The December Issue is now online!
MOST VIEWED
MOST EMAILED
TWITTER
FACEBOOK
LINKEDIN
TOP DISCUSSIONS
DISCUSSION TOPICS
Quick Polls
Are You Considering Changing Firms This Year?
- Yes, to Another Wirehouse or Regional Firm.
-
14%
- Yes, Considering Independence.
-
14%
- No.
-
71%
