-- “The United States has the greatest financial markets in the world, and sensible regulation is vital to ensuring that they remain strong, dynamic, and innovative. I am grateful to have had the opportunity to contribute to that important objective.”
Timothy Massad, Outgoing Chairman of the CFTC. Read more here.
-- “When lenders breach their duty of due diligence and make risky loans that go bad, taxpayers pay the bill.”
U.S. Attorney for the Eastern District of Michigan Barbara L. McQuade, commenting on a recent FCA settlement involving the knowing origination and underwriting of FHA-insured mortgage loans that failed to meet applicable requirements. Read more here.
-- “No matter what the reason, when foreign officials receive bribes, they threaten our national security and the international free market system in which we trade.”
William F. Sweeney, the FBI’s New York Field Office Assistant Director in Charge.
-- “Whistleblowers who step forward and raise concerns internally to their companies about potential securities law violations should be protected from retaliation regardless of whether they have filed a complaint with the SEC.”
SEC Office of the Whistleblower Chief Jane Norberg on the SEC’s first ever settlement over internal-whistleblower retaliation. Read more here.
-- “Don’t forget the books. Assume we are not coming back to ny.”
A partner at Platinum hedge fund discussing fleeing to Israel when the government started investigating the firm on suspicion that it was operating as a Ponzi scheme. Click here for more.
-- “The defendants in this case are charged with devising a scheme that casts doubt on the integrity of our profession. The conduct of these defendants was outrageous – they used deceptive lawsuits and unsuspecting judges to extort millions from vulnerable defendants. Our courts are halls of justice where fairness and the rule of law triumph, and my office will use every available resource to stop corrupt...
-- “Americans across the country are healthier, enjoy a better quality of life, and are safer because of our continuing success in protecting taxpayer funds from misuse…the qui tam provisions [of the False Claims Act] provide a valuable incentive to industry insiders who are uniquely positioned to expose fraud and false claims to come forward despite the risk to their careers. This takes courage, for which they...