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The SEC settles a case with an executive at United Commercial Bank, but gives him credit for his substantial assistance
- Porter Wright Morris & Arthur LLP
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- USA
- -
- March 30 2012
On March 27, 2012, the SEC announced that it has sued John Cinderey, a former executive vice president at United Commercial Bank for aiding and abetting securities law violations relating to falsifying books and records and misleading the bank's auditors
SEC settles securities fraud disputes with Fannie Mae and Freddie Mac and files charges against six of their executives
- Porter Wright Morris & Arthur LLP
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- USA
- -
- December 16 2011
On Friday, December 16, 2011, the SEC announced that it had entered into non-prosecution agreements with the Federal National Mortgage Association ("Fannie Mae") and the Federal Home Loan Mortgage Corporation ("Freddie Mac") and filed charges against six of their former executives for securities fraud, alleging that "they knew and approved of misleading statements claiming the companies had minimal holdings of higher-risk mortgage loans, including subprime loans."
SEC's case against two executives from State Street Bank is dismissed
- Porter Wright Morris & Arthur LLP
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- USA
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- November 1 2011
On Friday, October 28, 2011, Chief Administrative Law Judge Brenda Murray dismissed the administrative proceeding against John Flannery and James Hopkins of State Street Bank and Trust
Federal Housing Finance Agency sues 17 financial institutions for securities fraud
- Porter Wright Morris & Arthur LLP
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- USA
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- September 6 2011
On Friday September 2, the Federal Housing Finance Agency, as conservator for Fannie Mae and Freddie Mac, filed lawsuits in state and federal court in New York and Connecticut against 17 different financial institutions (including Bank of America, Citigroup, Credit Suisse, Deutsche Bank, Morgan Stanley and JP Morgan), certain of their officers and various underwriters, alleging violations of the federal securities laws and common law relating to the sale of mortgage-backed securities
Former chairman of mortgage lender Taylor Bean & Whitaker sentenced to 30 years in prison for his role in market crisis case
- Porter Wright Morris & Arthur LLP
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- USA
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- June 30 2011
On June 30, 2011, Lee Farkas, the former Chairman of Taylor Bean & Whitaker ("TBW"), was sentenced to 30 years in prison for his role the failure of his company and of Colonial Bank
Former chairman of mortgage lender Taylor, Bean & Whitaker convicted for scheme that contributed to his company's collapse and the failure of Colonial Bank
- Porter Wright Morris & Arthur LLP
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- USA
- -
- April 20 2011
On Tuesday, April 19, 2011, in one of the first criminal trials arising out of the market crisis, a federal jury in Alexandria, Virginia convicted Lee Farkas of: one count of conspiracy to commit bank, wire and securities fraud; six counts of bank fraud; four counts of wire fraud; and three counts of securities fraud
SEC surprise exams of investment advisers
- Porter Wright Morris & Arthur LLP
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- USA
- -
- May 19 2009
The SEC is considering rule amendments that would make it harder for an investment adviser to steal client assets and provide fake account statements
Broker-dealers: the intersection of the Red Flag Rules and Regulation S-P
- Porter Wright Morris & Arthur LLP
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- USA
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- November 4 2008
Do the Red Flag Rules of the FTC and the federal banking agencies apply to broker-dealers registered with the SEC?
Identity theft red flags and consumer report discrepancies
- Porter Wright Morris & Arthur LLP
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- USA
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- December 18 2007
Last month, federal banking regulators jointly issued final rules under the Fair and Accurate Credit Transactions Act of 2003 (the FACT Act
Current Search
- Workarea - White Collar Crime
- Workarea - Banking
- Firm Name - Porter Wright Morris & Arthur LLP