U.S. Attorney Josh J. Minkler recently announced that his federal office collected for the Southern District of Indiana a total of $7,707,955 in criminal and civil actions in fiscal year 2016
Statutory enactments by federal financial regulatory and various state enforcement agencies have made it easier, safer and financially enticing for employees and former employees to report corporate wrongdoing.
A D.C. federal judge on Wednesday denied a renewed request by a financial services industry group to block the U.S. Department of Labor’s rule expanding the definition of a fiduciary for retirement account investment advisers, saying the court had already determined the DOL’s interpretation was reasonable.
Ameriprise Financial Services Inc. agreed Wednesday to pay a fine to settle the Financial Industry Regulatory Authority’s claims it failed to catch and stop a sales assistant who was siphoning cash from his relatives’ accounts, even though the firm had just improved its supervisory systems after a similar failure.
The U.S. Department of Labor’s so-called fiduciary rule for retirement account investment advisers was promulgated after an adequate analysis and within the agency’s authority, a D.C. federal judge ruled Friday, giving the government its first victory in one of many challenges to the new rule.
The government’s recent focus on holding individuals accountable for corporate misdeeds is supporting the rise of aggressive theories of prosecution, including the idea that even absent actual knowledge, they should have known something was amiss — and defense experts say that’s an especially dangerous development for attorneys.
Agencies brought more cases against registered advisers than unregistered entities, and certain products featured in many of them
The U.S. Securities and Exchange Commission announced Monday that it is launching exams to test the compliance oversight and controls of investment advisers that hire individuals with a disciplinary history.
James & Associates and Robert W. Baird & Co. agreed Thursday to pay a fine to the U.S. Securities and Exchange Commission over claims they failed to ensure clients enrolled in programs with a single annual fee weren’t being overcharged commissions for certain trades.
The U.S. Securities and Exchange Commission said on Thursday investment advisers must disclose more about assets held in separately managed accounts, including their level of exposure to derivatives, cementing rules industry stakeholders previously worried could expose trading strategies.