NY Times Editorial: Time to Treat White Collar Criminals Like…Criminals

There’s a novel thought: enforcing laws on white collar crime.Take the extensive money laundering Mr. Manafort is accused of undertaking with shell companies that hide ownership. How could he have expected to get away with it? Perhaps he saw what happened when one of the world’s largest banks, HSBC, helped launder billions of dollars in…

Citigroup Fined for Telling Clients to Buy When It Meant Sell – Bloomberg

Shouldn’t the word be “fraudulent” or at least “materially misleading” instead of just “inaccurate?” Citigroup Inc. will pay $11.5 million to resolve Financial Industry Regulatory Authority claims that a brokerage unit harmed retail customers by displaying inaccurate research ratings for hundreds of securities for nearly five years.<P<Citigroup Global Markets Inc. showed incorrect ratings — such…

FINRA fines J.P. Morgan for thousands of HR due diligence failures

The Financial Industry Regulatory Authority fined J.P. Morgan Securities, LLC $1.25 million for failing to conduct proper background checks on 8,600 new employees from 2009-2017. J.P. Morgan’s due diligence failures involved 95 percent of the firm’s “non-registered associated persons.”

How Is This Not Fraud?

Morgan forgave debts it no longer had on properties it no longer owned and used that to pay off the fine accrued for its previous acts of arrant criminality. Source: How Is This Not Fraud?

Is Equifax the Next Enron? – Motley Fool Money

Is Equifax the Next Enron? VEA vice chair Nell Minow appears on the Motley Fool Money podcast to talk about Equifax, Hurricane Harvey, corporate leadership on climate change, and the 2017 summer box office. Source: Is Equifax the Next Enron? – Motley Fool Money