Tag: Murphy

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Suspended: Thomas M. Murphy Suspended by FINRA

Suspended

Thomas M. Murphy Suspended by FINRA

An AWC was issued in which Murphy was assessed a deferred fine of $5,000 and suspended from association with any FINRA member in all capacities for four months. Without admitting or denying the findings, Murphy consented to the sanctions and to the entry of findings that he executed subscription agreements as an authorized signatory for his member firm, without its authorization, to help clients of the firm’s selfdirected brokerage business invest in third-party private real estate funds.

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Article: The Deutsche Bank gold manipulation scandal

Article - Media, Publications

The Deutsche Bank gold manipulation scandal

Leonard Melmano, 02 June 2016

Sophisticated British criminals exploited vulnerabilities in Australia’s search engine and cryptocurrency infrastructure to dupe small investors, lured by the promise of high-yield funds badged by some of the finance world’s most trusted brands.

The complex scheme involved stolen identities and fraudulent prospectuses that claimed to represent high-yield investment funds run by global managers Citibank, Nomura, and IFM Investors. It has ensnared millions from unsuspecting victims who sought better returns as interest rates collapsed during the COVID-19 crisis. Continue reading “Article: The Deutsche Bank gold manipulation scandal”

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Article: SEC settles with hedge fund billionaire Steven Cohen

Article - Media, Publications

SEC settles with hedge fund billionaire Steven Cohen

Renae Merle, 09 January 2016

Billionaire Steven A. Cohen has been in the crosshairs of federal prosecutors for nearly a decade. His hedge fund, SAC Capital, was once one of the most powerful on Wall Street, managing more than $15 billion for investors and producing stellar returns for years.

But prosecutors suspected that SAC’s success was too good to be true.

U.S. Attorney Preet Bharara in Manhattan once called Cohen’s hedge fund as a “veritable magnet for market cheaters.” When, in 2013, SAC agreed to pay $1.2 billion to settle charges that it tolerated rampant insider trading it was one of the highest-profile successes in the government’s aggressive push against insider trading. Continue reading “Article: SEC settles with hedge fund billionaire Steven Cohen”

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Article: CGI inks $14.5 million with government, moves futher into B.C.

Article - Media, Publications

CGI inks $14.5 million with government, moves futher into B.C.

Rebecca Reid, 15 January 2014

It’s been a week of contracts and acquisitions for Montreal-based CGI Group Inc., as the company snagged a big deal with a federal government department and expanded its presence in B.C. with a buy. Continue reading “Article: CGI inks $14.5 million with government, moves futher into B.C.”

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Article: JP Morgan Covering Silver Short Position, Says NIA

Article - Media

JP Morgan Covering Silver Short Position, Says NIA

National Inflation Association, 14 December 2010

There were reports out today that JP Morgan has now admitted to having their massive naked short position in silver and is taking steps to reduce it. According to the Financial Times in London, “JPMorgan has quietly reduced a large position in the US silver futures market which had been at the centre of a controversy about its impact on global prices for the precious metal.” According to a person familiar with the matter, “The decision by JPMorgan was an attempt to deflect public criticism of the bank’s dealings in silver.” JP Morgan said in a statement, “It is absolutely incorrect to say or imply that the Nymex, CFTC or any other exchange or regulator has instructed or asked us to reduce our position.”

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