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A FINRA 8210 AML investigation can put a stockbroker’s license, livelihood, and reputation on the line — often before the registered representative fully understands what regulators are actually looking for. If you have received a FINRA Rule 8210 request connected to anti-money laundering (AML) concerns, the answers you give about a customer’s source of funds, […]
If you are a stockbroker who just received a FINRA 8210 request, there is a very good chance that FINRA Rule 2010 is the rule the regulator ultimately intends to charge you with violating. FINRA Rule 2010 — Standards of Commercial Honor and Principles of Trade — is the broadest, most frequently charged rule in […]
Bear Stearns Cos., the manager of two hedge funds that collapsed last month, blocked investors from pulling money out of a third fund as losses in the credit markets expand beyond securities related to subprime mortgages. The Bear Stearns Asset-Backed Securities Fund had less than 0.5 percent of its $900 million of assets in securities […]
Bear Stearns Cos.’ decision to liquidate two bankrupt hedge funds in the Cayman Islands instead of New York may limit creditors’ and investors’ ability to get their money back. Bear Stearns Hedge Funds Under Fire While most of their assets are in New York, the funds filed for bankruptcy protection July 31 in a court […]
Federal prosecutors have launched a criminal investigation into two Bear Stearns Cos. mortgage-related hedge funds that collapsed during the summer, according to people familiar with the matter. This investigation highlights the increasing scrutiny that financial institutions face, especially during turbulent times in the market. The collapse of these funds serves as a cautionary tale about […]