The Securities and Exchange Commission (SEC) announced that on January 17, 2013, in a criminal action brought by the U.S. Attorney’s Office for the Northern District of Illinois, the Honorable James B. Zagel in the Northern District of Illinois sentenced Kenneth A. Dachman (Dachman) to 120 months in prison on 11 counts of wire fraud […]
The U.S. Securities and Exchange Commission rejected Nasdaq’s request to offer clients trading algorithms that would enable them to execute buy and sell orders according to predetermined guidelines. Nasdaq failed to specify in its proposal how it would ensure that orders generated under its plan would comply with rules requiring risk checks on buy and sell […]
Last month, a class action lawsuit was filed on behalf of investors in the UBS Willow Fund. Investors are encouraged to explore all of their legal options, including whether they have potential claims against the investment adviser or broker dealer that recomended the purchase of the fund. The UBS Willow Fund is a private hedge […]
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 […]