Victims of R. Allen Stanford’s $7 billion Ponzi scheme can sue outside companies and law firms alleged to have played a role in the fraud, the U.S. Supreme Court ruled, dealing a setback to the securities industry.
The U.S. Securities and Exchange Commission is considering granting private-equity firms a reprieve after they collected billions of dollars in deal fees without being registered to do so, according to a person with knowledge of the matter.
Credit Suisse Group AG agreed to pay $197 million to regulators and admitted servicing thousands of U.S. clients without approval, leaving unsettled a criminal probe of whether it helped Americans evade taxes.
Deutsche Bank AG agreed to hand over documents related to a probe into the operations of its Dubai- based wealth management division after being taken to court by the emirate’s financial free zone regulator.
A majority of the five-member U.S. Securities and Exchange Commission wants the agency to review whether stock exchanges should continue to have regulatory roles that include overseeing members who may run competing venues.