Sen. Grassley Tells SEC To “Refocus,” Questions Its Efficacy
by Beth Connolly on May 18, 2012
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“Stateless Super Rich” Renounce Paying American Taxes
by Lisa Swan on May 18, 2012
Facebook co-founder Eduardo Saverin isn’t the only rich American to renounce his U.S. citizenship in order to save money on taxes. Sam Pizzigatti of AlterNet says that the number of the super rich also renouncing their citizenship has grown over 750% in the last four years, … Read More »
Fomer Napfa Chair Charged with Defrauding Clients of $47.5 Million
by Jon Lewin on May 18, 2012
The former chairman of the National Association of Personal Financial Managers (Napfa) has been charged with defrauding his clients of about $47.5 million by secretly moving their money into two startup companies that he co-founded, Financial Advisor reports.
According to the Securities and Exchange Commission, Mark Spangler, an investment adviser … Read More »
FINRA Forces Out Compliance Officer for Lack of Heightened Supervision
by Lisa Swan on May 18, 2012
The Financial Industry Regulatory Authority has forced out the head of compliance at a financial services group for not adhering to heightened supervision guidelines, Forbes reports.
James Arnold Potter recently submitted what is known as a Letter of Acceptance, Waiver and Consent to FINRA. Potter worked as for the Oak Ridge Financial Services … Read More »
SEC Takes Heat From Dems, FINRA Reviewing Groupon, Gupta Witness List Released: CompliancEX News 5/18/2012
by The Compliance Exchange on May 18, 2012
At CME, An Uproar Over Trading Hours The battle between man and machine is heating up in the Chicago trading pits, where America’s most basic crops have been bought and sold since the 19th century. A … Read More »
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