Forex Firms Charged With Illegal Currency Trading
The U.S. Commodity Futures Trading Commission (CFTC) filed suit last week against 14 foreign currency exchange (Forex) dealers, according to a Jan. 26, 2011 CNNMoney article by Charles Riley,...
View ArticleProsecutors Probe Forex Abuses by Bank of New York Mellon and State Street Corp.
Prosecutors have taken over whistleblower lawsuits against Bank of New York Mellon and State Street Corp. that accuse the banks of fraud in overcharging public pension funds by tens of millions of...
View Article“Gouging” Issues Permeate Forex Trades
Banks overcharged major investment firms for currency trades, according to a Wall Street Journal article by Gregory Zuckerman, Carrick Mollenkamp and Lingling Wei, titled “Suspicion of Forex Gouging...
View ArticleForex Fraud Claims Just Keep Coming
The Wall Street Journal is reporting that the Arkansas Teacher Retirement System has filed a putative class action lawsuit against State Street Corp. alleging that the bank overcharged the it and other...
View ArticleAnother Cautionary Tale of Investors Seeking Higher Yields Falling Prey to...
The Massachusetts securities division filed two Administrative Complaints against unregistered broker-dealers that allegedly perpetrated foreign-exchange investment scams, according to Liz Moyer’s...
View ArticleThe Forex Mess Gets Nasty
Bank of New York Mellon Corp. admits it did not act in its clients’ best interest in pricing foreign currency trades but says its clients are to blame because they knew or should have known what was...
View ArticleMassachusetts Claims it was Overcharged for Forex Trades
Massachusetts may join California, Virginia and Florida in suing Bank of New York Mellon Corp. for allegedly overcharging the state’s pensioners for foreign exchange trades, according to Carrick...
View ArticleForex Trading is Unsuitable for Most Retail Investors
A lot of retail investors are getting involved with Forex trading, according to Stephen L. Bernard’s Wall Street Journal article entitled “Is Currency Trading Worth the Risk?” It is only worth the risk...
View ArticleInvestor Alert – Forex Trading Can Be Lethal
SEC Commissioner Luis Aguilar called for the SEC’s Office of Investor Education and Advocacy to issue an investor alert warning retail investors about the risks of trading off-exchange foreign currency...
View ArticleForex Fraud Case Reveals the Value of Whistleblowers
Bank of New York Mellon has been sued in separate civil lawsuits filed by the U.S. Department of Justice and the Attorney General of New York seeking damages in excess of $2 billion related to BNY’s...
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