A former hedge-fund trader pleaded guilty to criminal charges involving a scheme to trade on inside information about analysts’ ratings changes at UBS AG’s securities unit before the changes became public knowledge. Mark E. Lenowitz, who formerly traded equity securities on behalf of Chelsey Capital in New York and was a partner at Q Capital […]
Losses on mortgage-backed securities have forced an Irvine brokerage firm to begin shutting down its operations, people close to the company said Thursday. At least some of the losses were said to be incurred by clients of the brokerage, Brookstreet Securities. Because of the losses, brokerage regulator NASD told Brookstreet this week to limit its […]
Firm Also Charged with Falsely Claiming that Millions of Emails in its Possession Had Been Lost in 9-11 Terrorist Attacks NASD announced today that it has charged Morgan Stanley DW, Inc. with routinely failing to provide emails to claimants in arbitration proceedings as well as to regulators – and with falsely claiming that millions of […]