The Commodity Futures Trading Commission announced it is penalizing Goldman Sachs over recordkeeping violations and violating the cease-and-desist provision of a previous commission order, according to the Wall Street Journal. The CFTC said Goldman Sachs has agreed to...
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UBS to pay $1.44 billion over alleged misconduct in residential mortgage-backed securities
The US Department of Justice announced a settlement with UBS AG over alleged misconduct in the sale of residential mortgage-backed securities, (RMBS) AdvisorHub reports. The company settled a civil action that was filed in November 2018 related to UBS’ underwriting...
Wells Fargo agrees to pay $1 billion to settle class-action lawsuit
A settlement has been reached in a class-action lawsuit brought by shareholders against Wells Fargo & Co., reports Advisor Hub. Wells Fargo agreed to pay $1 billion to compensate investors who said the company misled them about the progress it was making in...
Goldman Sachs to pay $215 million to settle lawsuit alleging discrimination against women
A settlement has been reached in a class-action lawsuit that alleged Goldman Sachs Group Inc. discriminated against thousands of female employees, Financial Advisor reports. Goldman Sachs agreed to pay $215 million to about 2,800 women who accused the New York-based...
Appeal filed over judge’s decision that struck down Massachusetts fiduciary rule
A legal battle is continuing between Robinhood Markets and the state of Massachusetts over the state’s fiduciary rule, Financial Advisor reports. Massachusetts secretary of the commonwealth William F. Galvin said he will appeal a ruling last year by Superior Court...
