Former Bank of America Corp. Chairman Kenneth Lewis agreed to a three-year ban on serving as a public company’s officer or director and to pay $10 million to settle claims by New York’s attorney general that he misled investors about the bank’s 2009 purchase of Merrill Lynch & Co.
The U.S. government sees no evidence of “widespread” use of virtual currencies such as Bitcoin to evade sanctions or finance terrorism, the Treasury Department’s top official targeting money laundering said.
New York’s top bank regulator Benjamin Lawsky says he’s prepared to identify individual bankers by name to deter misconduct in the financial sector, starting with a BNP Paribas SA settlement over laundering funds from sanctioned countries including Iran.
The U.S. Securities and Exchange Commission sued four Chinese executives of an animal feed company and the chairman of its audit committee in connection with a fraud involving $239 million in bogus revenues.
Worldwide Capital Inc., a New York- based proprietary trading firm, agreed to pay a record $7.2 million to settle U.S. regulatory claims it improperly bought shares of companies it had bet against days earlier.