Christopher Veale, a broker who started his career at boiler room Stratton Oakmont Inc., was accused by Massachusetts regulators of excessive trading in the account of an 81-year-old from 2010 to 2012.
Massachusetts Secretary of the Commonwealth William Galvin subpoenaed Citigroup Inc. along with Facebook Inc.’s lead underwriters Morgan Stanley, Goldman Sachs Group Inc. and JPMorgan Chase & Co. in connection with the decline of Facebook’s share price following its initial public offering in May, his office said.
Fairfield Greenwich Group, the hedge fund that steered $7 billion to Bernard Madoff, faces new claims of fraud by investors who previously alleged negligence against co-founders Walter Noel, Jeffrey Tucker and Andres Piedrahita.
Putnam Advisory Co., a unit of the Boston-based money manager, was charged by Massachusetts regulators with deceiving investors in the creation and marketing of mortgage-related products in 2006 and 2007.
RBC Capital Markets, the securities unit of Royal Bank of Canada, inadequately supervised sales of leveraged and inverse-leveraged exchange-traded funds to clients, Massachusetts’s chief financial regulator said.
Massachusetts, which has accused Bank of New York Mellon Corp. of overcharging its public pension funds on small foreign-exchange transactions, hired Russell Implementation Services to handle those trades.