The Department of Justice (DoJ) reports that the Madoff victim fund (MVF) has begun its initial distribution of $772.5 million in funds forfeited to the U.S. government in connection with the Bernard L. Madoff Investment Securities LLC (BLMIS) fraud scheme. Bernard “Bernie” Madoff is, of course, the perpetrator of the largest financial fraud in American… Read More >>
How to Spot and Avoid the Next Madoff
Operational risk is a sprawling, difficult and highly technical field, as many of the speakers and attendees at Financial Technologies Forum’s recent OpRisk NY event can attest. But one area that often gets overlooked amid the jumble of complex models and bureaucratic red tape of OpRisk at larger firms, is how alternative asset managers apply… Read More >>
Watchdogs: Wayward Firms to Face More Record Fines
After a year of record-breaking fines that has left financial services firms reeling and their investors anxious about what the future may hold, regulators and prosecutors alike say wayward firms can expect more of the same – and worse – going forward. “The next time one of these institutions engages in misconduct, I think they… Read More >>
