SEC Charges Rogue Trader Who Bankrupted His Firm

SEC

The Securities and Exchange Commission today charged Keith A. Wakefield, a former managing director and head of fixed income trading at IFS Securities, Inc., an Atlanta-based broker-dealer, with causing millions of dollars of losses through unauthorized trading in fixed income securities, and with fraudulently obtaining approximately $820,000 in fictitious commission income. read more »

Wells Fargo must face shareholder fraud claims over its recovery from scandals

REUTERS

A federal judge on Thursday rejected Wells Fargo & Co's (WFC.N) bid to dismiss a lawsuit claiming it defrauded shareholders about its ability to rebound from five years of scandals over its treatment of customers. read more »

IMF warns of global risks from unregulated cryptocurrency boom

THE GUARDIAN

Tougher regulation is needed to prevent the rapid growth in cryptocurrencies leading to financial instability, defrauding of consumers and the funding of terrorism, the International Monetary Fund has said. read more »