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Securities: SEC charges broker with scheme to divert profits from one client to another

11. March 2010

The Securities and Exchange Commission has charged a stock broker with a fraudulent scheme to divert millions of dollars in trading profits from a large institutional customer of the broker to another of the broker's customers.

wmlro.com: cocaine found in false bottom of suitcase

11. March 2010

A flight from Barbados to London's Gatwick Airport, arriving on 9th March, bore a surprising cargo: four kilos of cocaine, worth GBP160,000 in a suitcase, hidden beneath a false panel.

Banking: Australia's ACCC's proposed cheque clearing rules

10. March 2010

The Australian Competition and Consumer Commission proposes to authorise certain regulations governing the operation of the Australian Paper Clearing System managed by the Australian Payments Clearing Association.

Securities Industry: US - Kogan /First Capitol ordered to pay USD20 million to CFTC

10. March 2010

The U.S. Commodity Futures Trading Commission (CFTC) has obtained more than USD20.3 million in civil monetary penalties and equity relief in a federal judgment order against David Michael Kogan and his company, First Capitol Futures Group (a/k/a and d/b/a First Capital Group), both of Sherman Oaks, Calif., in a CFTC anti-fraud action.

US states take action against "ID Theft" protection company

10. March 2010

35 US states have taken action against LifeLock Inc alleging that it mistated and overstated the identity fraud protection services it offered.

FI Warnings: Blumental Bank

9. March 2010

Germany's Federal Financial Supervisory Authority (BaFin) warns of an unauthorised institution.