Updated Friday, October 24, 2014 as of 4:38 PM ET
Ex-Head of Global Wealth at UBS Called Accounts ‘Toxic Waste,’ Jury Told
Raoul Weil, who once ran UBS AG’s global wealth-management business, referred to accounts hidden by U.S. clients from the IRS as “toxic waste,” a witness at his tax-conspiracy trial said.
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Corporate tax reform is likely to be a priority for Congress and the Obama administration no matter which party has control of the Senate after the midterm elections, said tax experts and congressional observers who, nevertheless, differ on how this might impact municipal bonds. more »
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The nation's biggest independent B-D announced that it expects to incur greater-than-expected charges of $23 million in its third quarter due to regulatory matters. more »
FINRA's Enforcement Department alleges that the registered rep issued and distributed unauthorized ATM cards as part of a scheme to steal customer funds. more »
Agency secures $4 billion in penalties; expert says: “make sure that you have a robust and dynamic compliance program.” more »
Ameriprise and one of its advisors were fined by FINRA after an investigation revealed the advisor doctored client documents and the firm kept quiet about the changes. more »
The SEC plans an enforcement action against a former Wells Fargo compliance officer for altering report. more »
UBS has agreed to compensate 34 Puerto Rico-based investors for their losses in investments in their municipal bond closed ended funds. more »
James Katayanagi allegedly created fake ATM cards and used them to swipe more than $14,000 from eight bank customers. more »
A former UBS broker was ordered to pay back the wirehouse $1.75 million of his recruiting bonus – the third such million-dollar judgment against him this year. more »
Former FINRA vice chairman Stephen Luparello received $5.34 million of total compensation in 2012 — the highest of any of the individuals in The Bond Buyer's annual survey of the compensation levels at 21 industry, self-regulatory, state and local, and muni related groups. more »
The hackers who raided the data banks of JPMorgan Chase used computers now linked to possible attacks on at least 13 more financial companies, according to a person familiar with the investigation. more »
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