Daily Archives: April 23, 2013, 12:09 pm

Former MF Global CEO Corzine sued by trustee — Reuters

Jon Corzine was sued by the bankruptcy trustee liquidating MF Global Holdings Ltd, who accused the former chief executive of negligently pursuing a high-risk business strategy that culminated in the commodities brokerage’s destruction. The trustee, Louis Freeh, said in the lawsuit that Corzine and two top deputies overhauled MF Global’s business without addressing “systemic weaknesses” in oversight and monitoring. Freeh…

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SEC Enters First-Ever Non-Prosecution Agreement in FCPA Case – Compliance Week

Yesterday the SEC announced a non-prosecution agreement with Ralph Lauren Corp. related to alleged bribes a subsidiary of the company paid to government officials in Argentina from 2005 to 2009. The NPA is the first that the SEC has entered involving Foreign Corrupt Practices Act misconduct. via SEC Enters First-Ever Non-Prosecution Agreement in FCPA Case – Compliance Week

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Tough stance on insider trading at hedge funds getting results – Risk.net

The UK financial regulator’s tough stance on insider dealing at prominent hedge funds and asset managers has contributed to a 50% fall in “dubious trading activity” around earnings announcements and other market-moving news in the past three years, according to David Kirk, chief criminal counsel at the Financial Conduct Authority (FCA). via Tough stance on insider trading at hedge funds…

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