The U.S. Supreme Court turned away an appeal from the first commodities trader convicted of spoofing since Congress made it a crime, rejecting arguments that the 2010 ban is so vague it should be overturned. The justices, without comment Monday, left intact a three-year prison sentence imposed on Michael Coscia, the former principal of Panther Energy Trading.
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The regulatory findings will also be closely read by lawmakers keen to ensure top banking officials are held accountable for their actions at a time when there are growing calls to better protect whistleblowers.
A heavy weight has finally been lifted off the shoulders of Royal Bank of Scotland CEO Ross McEwan. The British bank said today that it agreed to pay $4.9 billion to the US Justice Department to settle an investigation into RBS's mis-selling of mortgage securities in the run-up to the global financial crisis.
A former Massachusetts man who ran what prosecutors called a Ponzi-style scheme that defrauded 15 investors out of more than $6 million has been convicted.
Some of the biggest names on Wall Street are warming up to Bitcoin, a virtual currency that for nearly a decade has been consigned to the unregulated fringes of the financial world.
Wells Fargo & Co. agreed to pay $480 million to settle a class-action lawsuit in which investors accused the bank of securities fraud related to its fake-account scandal. The settlement resolves the main class-action suit brought by shareholders targeting the bank's allegedly deficient disclosures related to its sales practices. It had previously set aside reserves for the settlement, according to a regulatory filing Friday. Wells Fargo said in a statement that it denies the allegations in the suit.
Rio Tinto's chairman has defended the company's culture amid allegations of fraud related to the miner's accounting of a coal venture in 2012.
Cambridge Analytica announced Wednesday that its parent group, SCL, has filed applications to begin insolvency proceedings in the UK and will be ceasing all operations. The political consulting firm is also planning to begin bankruptcy proceedings in the U.S. The company reportedly made the decision because it was losing clients and has to pay soaring legal fees as a result of allegations that it improperly accessed Facebook data.
The Securities and Exchange Commission today announced the unsealing of fraud charges against a Mississippi company and its principal who allegedly bilked at least 150 investors in an $85 million Ponzi scheme. The defendants agreed to permanent injunctions, an asset freeze, and expedited discovery.
The Panasonic parent company, in a settlement announced Monday, will pay $143 million in disgorgement to the Securities and Exchange Commission, while Panasonic Avionics Corp. agreed to pay about $137 million in penalties to the Justice Department for violations of the accounting provisions of the Foreign Corrupt Practices Act.
As someone who has just made legal history as an international whistleblower, Andrew Patrick perhaps rightly believes he has a message that British employers should heed.
The Malaysian prime minister, Najib Razak, has insisted there was no wrongdoing in the 1MDB scandal and instead blamed a "problematic business model" for the billions of dollars that went missing from a government investment fund.
Christopher Wylie, the whistleblower source who revealed more about Cambridge Analytica's harvesting of Facebook data to the news media, says he hopes Democratic lawmakers he met with Tuesday will investigate the company.
Gary Gensler, the former chairman of the Commodity Futures Trading Commission, said that government officials should take a closer look at the largest coins by market capitalization, not just at tokens sold in ICOs. Ethereum's Ether and Ripple's XRP could probably be classified as securities, Gensler said.
The recent whistleblowing case at Barclays is likely to cost the bank's boss Jes Staley up to £1m in fines and bonuses after he broke the rules by trying to unmask the person who made the claims.
U.S. Supreme Court justices on Monday appeared divided over a challenge to the constitutionality of the Securities and Exchange Commission's selection of in-house judges to enforce investor protection laws in a case involving a former radio host and investment adviser backed by the Trump administration.
A group of cancer doctors focused on bringing down the cost of treatments by testing whether lower — and cheaper — doses are effective thought they had found a prime candidate in a blood cancer drug called Imbruvica that typically costs $148,000 a year.
The Supreme Court's order came in a whistleblower lawsuit accusing Gilead of making false statements about its compliance with federal regulations in connection with HIV drugs it makes.
The European commission will next week propose legislation that intends to protect whistleblowers. Recent scandals have exposed the limited help available for people seeking to expose corporate behaviour in the public interest.
The Securities and Exchange Commission today announced a whistleblower award of more than $2.1 million to a former company insider whose information led to multiple successful enforcement actions. The whistleblower's information strongly supported the findings in the underlying actions and the whistleblower provided ongoing assistance to the staff during the investigation.
