The Commodity Futures Trading Commission on Tuesday approved rules requiring trading firms to turn over data about the buying and selling of over-the-counter derivatives products. The new rules will for the first time give regulators a window into the market for “swaps,” a previously unregulated corner of the financial markets that played a role in […]
The Securities and Exchange Commission announced charges today against Daniel “Rudy” Ruettiger and twelve other individuals who participated in a pump-and-dump scheme involving the stock of Rudy Nutrition, a now defunct Nevada corporation. The SEC’s complaint, filed in the United States District Court for the District of Nevada, alleges that Rudy Ruettiger, who is known […]
On December 12, 2011, the Securities and Exchange Commission filed an application with the federal district court in the District of Columbia to compel the Securities Investor Protection Corporation (SIPC) to file an application to begin a liquidation proceeding with regard to Stanford Group Company (SGC), a broker-dealer registered with the Commission and a SIPC-member […]
A federal appeals court Friday upheld the 2009 conviction and 50-year prison sentence of Minnesota businessman Tom Petters, who was found guilty of orchestrating a $3.7 billion Ponzi scheme. The Eighth U.S. Circuit Court of Appeals ruled that Petters got a fair trial. A three-judge panel rejected defense claims that the U.S. District Judge Richard […]
Bank of New York Mellon Corp., as the indenture trustee for holders of the county’s sewer warrants, asked U.S. Bankruptcy Judge Thomas B. Bennett in Birmingham, Alabama, to throw the biggest U.S. municipal bankruptcy out of court, where the county is protected from creditors. Bank of New York Mellon argues that Jefferson County wasn’t authorized to file […]