US regulator ups charges against New York boiler room scam
Company had already been sued for defrauding elderly investors
SEC
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US to clarify guidelines for investor-adviser relationship
Many were confused by the different professional figures and the services they provide
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US financial watchdog charges adviser with fraud
The adviser, who accumulated $3.9m, has also pleaded guilty to criminal charges in a federal court
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Legg Mason pays $71m to settle Libya bribery case
Global investment manager involved in scheme to secure investments from Libyan officials
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Faulty Aegon investment models see investors get $97m refund
Work by an inexperienced junior analyst contained errors and ‘didn’t work as promised’
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DeVere pays $8m to settle hidden Qrops commission case
DeVere USA has agreed to pay an $8m civil penalty stemming from its failure to disclose upfront commission of 7% to clients who were encouraged to transfer their UK pensions via a Qrops, the US regulator has announced.
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Fraud avoidance tool launched by US regulator
The US Securities and Exchange Commission has launched an online search tool to help investors avoid financial fraud and make informed investment decisions.
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SEC bid to protect investors scorned by own commissioner
With a recent appeals court ruling putting the Obama-era fiduciary rule in limbo, new proposals from the US regulator to protect retail investors have been heavily criticised by one of the Securities and Exchange Commission’s own.
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FBI operation delayed shutdown of defunct British DFM
Insolvent discretionary fund manager Beaufort Securities was given a stay of execution by the UK regulator to allow the Federal Bureau of Investigation to finish its undercover operation, it has been revealed.
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Credit Suisse investigated by US watchdog
Swiss banking giant Credit Suisse is being investigated for its hiring practices in the Asia Pacific region.
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What the raids on Convoy Global mean for Hong Kong’s advisers
Raids by Hong Kong’s anti-corruption commission have forced one of the special administrative region’s biggest financial advice firms into the harsh glare of media and public scrutiny.
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SEC clears path to US research post-Mifid
The Securities and Exchange Commission (SEC) has announced that UK investment firms will be able to temporarily access research from the US post-Mifid II.