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 […]
The U.S. Securities and Exchange Commission appealed a federal judge’s decision to reject its proposed $285 million settlement with Citigroup. The appeal, filed today in the US Court of Appeals in New York, challenged U.S. District Judge Jed Rakoff’s rejection last month of the settlement, which involved claims that Citigroup misled investors in a $1 billion financial […]
Lawyers who are trying to recover money for the far-flung victims of the Bernard Madoff Ponzi scheme have moved to recover $375 million from banking giant Credit Suisse. The trustee who is amassing the pool of money to pay back Madoff investors, filed a lawsuit late Monday in U.S. Bankruptcy Court in Manhattan against Credit Suisse […]
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 […]