When the alleged Ponzi-scheme collapsed, Global Bullion Trading Group, Capital Assessment Management, and Certified, Inc., all filed for bankruptcy.
The brokerage didn’t have enough controls in place to detect that Jared Weinryt, 31, had breached his $116 million trading limit as he made overnight bets on futures, Finra said this month.
The Bank of England, which will soon take over many regulatory responsibilities from the FSA, and the chancellor have also made their concerns clear.
The claim, which lists damages of as much as $50 million, is a necessary step before a lawsuit can be filed, Flanagan said by telephone.
Subpoenas were sent in recent weeks to five of the banks, Deutsche Bank AG (DBK), Royal Bank of Scotland Group Plc and HSBC Holdings Plc (HSBA) in addition to JPMorgan and Barclays, said the person. Citigroup Inc. (C) and UBS AG (UBSN) received subpoenas
Olenicoff, who built his fortune as the chief executive officer of Newport Beach, California-based Olen Properties Corp., pleaded guilty in 2007 to filing a false tax return.
Washington, however, must factor forthcoming elections into its thinking, and Germany is delaying ratification of a tax deal key to Switzerland's efforts to strike similar agreements elsewhere in Europe.
Porsche SE, a holding company, whose carmaking business in now owned by Volkswagen, said late on Wednesday it continued to believe the damage claims were without factual and legal merit, adding it would appeal against the decision.
The hedge fund, WCG Management, sent an email to its investors on Sunday informing them that the $3.4 billion fund is not under investigation in the Libor probe, but confirmed that portfolio manager Ryan Reich has drawn scrutiny from U.S. prosecutors.
Jennifer Zuccarelli, a spokeswoman for JPMorgan, didn’t immediately respond to an e-mail seeking comment on the suit.
The US, UK, France, Germany, Italy, and Spain have jointly issued drafts of two versions of model agreements implementing FATCA through a process of intergovernmental information exchange (the “Model Agreements”).
Patricia Perez-Coutts said in a statement Thursday that she and her new employer, Westwood Management Corp., will fight the allegations of breach of contract in court.