Regulatory

SEC lawyers hid ties to Madoff

Bernie Madoff’s Ponzi scheme is now the stuff of Wall Street legend. What’s less discussed are his ties to regulators. As the creator of Nasdaq, he was given a virtual free pass from the regulatory community – something he used to his advantage.

By Staff |September 21, 2011

1 min read

When to blow the whistle

Swiss banker Bradley Birkenfeld joined UBS in 2001. Four years later, Birkenfeld realized that UBS’s practice of storing money for American clients in Swiss bank accounts was illegal. Birkenfeld voiced his concern to his supervisors and UBS’s compliance and legal departments. Since he didn’t receive a response, in 2007 Birkenfeld left UBS and complained to the IRS and SEC, triggering a multibillion-dollar international tax-fraud scandal.

By Richard E. Austin |September 20, 2011

3 min read

MFDA finds against Carmel Toussaint

A disciplinary hearing in the matter of Carmel Toussaint was held today in Toronto, Ontario before a three-member hearing panel of the MFDA's Central Regional Council.

By Staff |September 16, 2011

1 min read

SEC close to settlement with mortgage agencies

The Securities and Exchange Commission is said to be close to a settlement with mortgage insurers Fannie Mae and Freddie Mac over allegations the two failed to properly disclose their exposure to low quality loans.

By Philip Porado |September 9, 2011

2 min read