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BNY Mellon pays $14.8m to settle SEC inquiry on interns

BNY Mellon pays .8m to settle SEC inquiry on interns
It also is probing whether investments in Africa by New York hedge fund Och-Ziff Capital Management Group violate the anti-bribery law. Andrew J. Ceresney, director of the SEC's Enforcement Division, said in a statement, “BNY Mellon deserved ...
Read more on Boston Globe

Delco man charged in million hacking scheme
Vitaly Korchevsky, 50, of Glen Mills, a former hedge fund manager, was arrested Tuesday at his home. He was scheduled to appear this afternoon before U.S. Magistrate Judge Linda K. Caracappa in federal court in Philadelphia. Prosecutors in Brooklyn ...
Read more on PhillyVoice.com

China's searching for stock market scapegoats
He rounded up corrupt officials, flexed muscles in territorial disputes with neighbouring countries, and pushed to reshape the global financial landscape by establishing the Asian Infrastructure Investment Bank. With the economy growing at its slowest ...
Read more on Sydney Morning Herald

Petroleo Brasileiro Petrobras SA (ADR) (PBR) Falls on Settlement Report While ...
If these penalties are confirmed, this would be the largest corporate corruption fine with the U.S. Department of Justice after Siemens AG, which was charged $ 800 million on bribery allegations. According to the Brazilian authorities cited by Reuters ...
Read more on Insider Monkey (blog)

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Latest Hedge Fund Corruption News

The Morning Risk Report: Impact of New Money Laundering Rules Is Uncertain
New rules applying anti-money laundering requirements to investment advisers will impose additional compliance costs on hedge funds and other money managers, but the level of cost is uncertain because the reach and rigor of the new rules isn't yet clear.
Read more on Wall Street Journal (blog)

Donald Trump: Hedge fund workers aren't paying enough in taxes
These hedge fund guys, they move around papers, many of 'em. You know, if the market goes up they're geniuses, [if] the market goes down … they go into a different business, frankly. They're wiped out. They go into a different business,” Mr. Trump ...
Read more on Washington Times

The Poison in Further Devaluation
In a Business Day report of 22/7/15, titled "CBN may fail Hedge fund speculators' betting on Naira devaluation", Sewa Wusa, Head of Research and Development of Sterling Capital observed that "the onus lies on the CBN to devalue the Naira before it is ...
Read more on AllAfrica.com

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Latest Wall Street Corruption News

Sri Lanka Chooses Change
Since many UPFA lawmakers were not loyal to Mr. Sirisena, he was unable to pass the entirety of his reform program, including tackling corruption, improving interethnic ties and blunting excesses of the executive branch. Mr. Sirisena dissolved ...
Read more on Wall Street Journal

Visa CEO Wants Independent Panel to Oversee Reforms at FIFA
U.S. prosecutors in May released a 161-page indictment that detailed broad corruption charges against 14 people linked to the organization. Visa, which is a major World Cup sponsor, previously has said it wants sweeping changes at FIFA and could ...
Read more on Wall Street Journal

Brazilian Protests: Calls For President Dilma Rousseff's Removal Amid ...
The president was the chairwoman of Petrobras during many of the years that the alleged corruption took place, reported The Wall Street Journal. As a result of the investigation, Rousseff has seen her approval rating drop to less than 10 percent about ...
Read more on Headlines & Global News

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Latest Market Manipulation News

Test for FMA - proving manipulation in an easily manipulated market
The civil proceedings by the Financial Markets Authority (FMA) against Mark Warminger for market manipulation while a portfolio manager for Milford Asset Management Limited will provide an interesting test case. The law is well-established. The ...
Read more on Mondaq News Alerts (registration)

BP manipulated Texas natural gas market in 2008, judge says (BP)
BP manipulated the Texas natural gas market in 2008 and then conducted an inadequate internal investigation, a U.S. administrative law judge ruled today, opening the possibility of more fines against the company because the scheme took place after ...
Read more on Seeking Alpha

Chinese company under probe for market manipulation
Prospects are dim for China's Hanergy Thin Film Power to resume trading soon in Hong Kong as regulators extend their two-month investigation into its dramatic share price fall in May. The mainland China-based solar technology firm, which quickly became ...
Read more on CCTV-America