United States (US)-based bank JPMorgan Chase & Co (JP) is negotiating a settlement with the US Department of Justice (DoJ), the US Federal Housing Finance Agency and the office of the New York state attorney general in relation to JP's alleged mis-selling of mortgage-backed securities in the lead up to the financial crisis.
A US Federal Court jury has found Bank of America Corporation (BofA) liable on a civil fraud charge relating to defective mortgages sold by its Countrywide unit to the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac).
The Australian Securities and Investments Commission (ASIC) has announced that Black Earth Resources Ltd has been fined after pleading guilty to 12 charges under the Corporations Act 2001 No. 50 (Cth), including in relation to its failure to hold annual general meetings (AGMs).
The United Kingdom Financial Conduct Authority (FCA) has made available Final Notice #1 (30 September 2013) issued to Catalyst Investment Group Ltd (Catalyst) for "recklessly misleading investors" in promoting certain bonds over a seven-month period.
The United States (US) Securities and Exchange Commission (SEC) has made available an Order (30 September 2013) determining a whistleblower award claim following a successful SEC enforcement action.
Wells Fargo & Company (Wells Fargo) has announced that it has reached a US$780 million settlement with the United States (US) Federal Home Loan Mortgage Corporation (Freddie Mac) to substantially resolve "all repurchase liabilities related to loans sold to Freddie Mac prior to [1 January 2009]".
The United States (US) Office of the Comptroller of the Currency (OCC), the United Kingdom Financial Conduct Authority (FCA), the US Securities and Exchange Commission (SEC) and the US Federal Reserve board (FRB) have announced respectively that JPMorgan Chase & Co (JP) has agreed to pay US$300 million, £137,610,000 (US$220 million), US$200 million and US$200 million as part of a global settlement in relation to the so-called London Whale trades.
The United Kingdom Financial Conduct Authority (FCA) has announced that it has fined ICAP Europe Ltd (ICAP) £14 million in the first penalty to be handed to a brokerage firm in relation to manipulation of the benchmark interest rate known as Libor.
The United States (US) Attorney's Office for the Northern District of Illinois (USAO NDIL) has announced that TY Inc owner and Beanie Babies plush toy brand creator H. Ty Warner has agreed to plead guilty to a US federal tax evasion charge that he "fail[ed] to report income he earned in a secret offshore financial account".
The United States (US) Securities and Exchange Commission (SEC) has made available an Order (23 September 2013) that requires New Jersey-based Toronto-Dominion Bank subsidiary TD Bank to pay a civil penalty of US$15 million for its role in a Ponzi scheme that was operated during 2005 - 2009 by since disbarred attorney Scott Rothstein.
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