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FINRA to take closer look at high-speed trading

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 […]

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Boston man charged with securities fraud in Alabama

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 […]

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Bank of America agrees to $11.6 billion settlement with Fannie Mae

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 […]

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SEC charges California company and CEO with defrauding investors in Nevada gold mining

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 […]

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SEC v. Aletheia Research and Management, Inc. and Peter Eichler

On December 14, the Securities and Exchange Commission charged a Santa Monica-based hedge fund manager and his investment advisory firm with conducting a “cherry-picking” scheme by steering winning trades to their own trading accounts and favored clients to the detriment of certain hedge fund investors. They are also charged with failing to disclose the firm’s […]

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