Onetime Los Angeles-area congresswoman Hilda L. Solis is stepping down as President Obama’s secretary of Labor to return home, a move seen as a potential first step to a bid for the county Board of Supervisors. In a letter Wednesday to Labor Department employees, Solis, 55, said that after spending time with family over the holidays, […]
Richard G. Ketchum, the head of the Financial Industry Regulatory Authority, said in an interview on Tuesday that he would ramp up scrutiny of high-speed trading and a batch of complex products. Finra, Mr. Ketchum said, would take aim at so-called leveraged loans and collateralized loan obligations, along with the potential conflicts that brokerage firms […]
A Boston man has been arrested and charged with violations of the Alabama securities act. McKinney was charged with one count each of sale of an unregistered security, sale of securities by an unregistered agent and theft of property by deception. He also was charged with two counts of fraud in connection with the sale […]
Bank of America reached an $11.6 billion settlement with government mortgage agency Fannie Mae to settle claims resulting from mortgage-backed investments that soured during the housing crash, bringing it a step closer to clearing up its legacy of bad home loans. Under the deal announced Monday, Bank of America will pay $3.6 billion in cash […]
The Securities and Exchange Commission today filed fraud charges against a California-based mining company and its CEO who induced hundreds of investors to pour $16 million into a fruitless gold mining venture. The SEC alleges that Nekekim Corporation and Kenneth Carlton defrauded investors with representations that a special “complex ore” found at Nekekim’s mine site […]