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.
New York’s top bank regulator asked Nationstar Mortgage LLC for information about “explosive growth” in its mortgage-servicing business, citing hundreds of consumer complaints about the company’s practices.
New York’s top bank regulator asked Ocwen Financial Corp. for information about potential conflicts of interest between the firm and its vendors as it seeks to buy $39 billion of home loans from Wells Fargo & Co. Ocwen shares tumbled 7 percent.
Berthel Fisher & Company Financial Services agreed to pay $775,000 to settle claims by the brokerage industry’s self-regulator that it failed to supervise the sale of complex investments including leveraged and inverse exchange-traded funds.
Benjamin Lawsky, New York’s top financial regulator, has asked more than a dozen banks including Goldman Sachs Group Inc. and Deutsche Bank AG for documents related to their currency trading practices, a person familiar with the matter said.
A unit of Dutch aerospace company Fokker Technologies Holding BV is poised to secure a reprieve from criminal charges that it violated U.S. sanctions against Iran, two people briefed on the matter said.
Brian Williamson, a former Oppenheimer & Co. money manager, agreed to be barred from the securities industry for at least two years and pay a $100,000 penalty for allegedly making misrepresentations about the valuation of a fund he managed.