FINRA Settles Matter Against Registered Representative For Failing to Timely Amend his Form U4 to Disclose Misdemeanor Charge, State and Federal Tax Liens, and Civil Judgment

January 26, 2016

FINRA settled a matter involving a registered representative who failed to timely amend his Form U4 to disclose a misdemeanor charge, state tax lien, federal tax lien and civil judgment. In June 2009, the Commonwealth of Pennsylvania’s Department of lnsurance filed a criminal charge against the representative in the Court of Common Pleas of Montgomery … Continue reading “FINRA Settles Matter Against Registered Representative For Failing to Timely Amend his Form U4 to Disclose Misdemeanor Charge, State and Federal Tax Liens, and Civil Judgment”

SEC Reaches Settlement With Evercore Insider Trader

January 26, 2016

The U.S. Securities and Exchange Commission reached a $682,000 settlement with a former Evercore Partners Inc. investment banker who was sentenced to 30 months in prison for insider trading. Under the terms of the deal, Frank Perkins Hixon Jr., formerly a senior managing director in Evercore’s mining and metals group, would pay the sum and … Continue reading “SEC Reaches Settlement With Evercore Insider Trader”

Banks Say 10th Circ. Barclays Ruling Can’t Help RMBS Suits

January 26, 2016

Credit Suisse Securities(USA) LLC, Morgan Stanley & Co. Inc. and UBS Securities LLC told a Kansas federal judge Monday that the National Credit Union Association couldn’t use a Tenth Circuit decision to revive multimillion-dollar suits over soured residential mortgage-backed securities previously found to be time-barred. The Tenth Circuit’s decision in NCUA v. Barclays Capital Inc. … Continue reading “Banks Say 10th Circ. Barclays Ruling Can’t Help RMBS Suits”

FINRA Sanctions Three Firms for Inadequate Supervision of Consolidated Reports

January 26, 2016

The Financial Industry Regulatory Authority (FINRA) announced today that it has sanctioned three firms – H. Beck, Inc., LaSalle St. Securities, LLC, and J.P. Turner & Company, LLC – with fines of $425,000, $175,000 and $100,000, respectively, for inadequate supervision of consolidated reports provided to customers and other violations. A consolidated report is a single … Continue reading “FINRA Sanctions Three Firms for Inadequate Supervision of Consolidated Reports”

Supreme Court Denies Request to Hear Insider Trading Case

January 26, 2016

The justices let stand a decision by the federal appeals court in New York last year that threw out insider trading convictions of two high-profile hedge fund managers. The 2nd U.S. Circuit Court of Appeals overturned the convictions of Anthony Chiasson of Manhattan and Todd Newman, of Needham, Mass., after finding they were too far … Continue reading “Supreme Court Denies Request to Hear Insider Trading Case”

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