This was no small fraud. Coming on the heels in the MF Global debacle, it threatened the entire futures industry structure. One fraud and violation of customers segregated funds is an anomaly, two might be considered a trend.
It’s the time of year for taking stock, making resolutions and then looking ahead to the next 12 months. Before turning the page on 2012 for good, we took a look back at our most popular stories of the year.
MF Global, Barclays, Peregrine Financial… Today it seems a full-time job to cover scandals, scammers and customer fund losses. And those noted here are only a few of the latest financial industry debacles.
The Senate Permanent Subcommittee on Investigations released findings of a year-long probe on HSBC's failure to curb money laundering for the Mexican cartel and even terrorists. There seems to be a pattern across the entire financial system, and it has to stop.