Credit-default swaps broker Phoenix Partners Group and brokers who worked at four other firms including Tullett Liberty Inc. and Creditex Group Inc. will pay $4.3 million to settle claims that they attempted to fix fees.
The uncertain economy is compounding a long-term problem in the brokerage business: its shrinkage.
Many representatives and agents say the new requirements add to the already complex layers of review required by Finra.
The government said Friday it obtained a court order to halt an alleged $34 million Ponzi scheme targeting federal employees and law enforcement agents nationwide with promises of safe investments in a nonexistent bond fund.
Famed hedge fund manager claims country's budget austerity could trigger deflationary spiral in Europe
Frank DiPascali Jr., who pleaded guilty to helping Bernard L. Madoff carry out history's biggest Ponzi scheme, was released on bail.
Federal regulators on Monday filed civil fraud charges against an investment adviser and his firm in connection with complex securities tied to mortgages during the housing market bust.
Group of 20 finance chiefs signaled they will delay introducing new rules aimed at forcing banks to raise the quality and quantity of capital they hold to buffer against financial crisis.
The fund's strategy is designed to be less correlated to the overall equity markets by concentrating on three stages of an IPO.
Two people familiar with the probe into Bernard Madoff's massive financial fraud say at least two former employees will face charges in the coming weeks.
