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Thursday, March 13, 2014

Reuters Money: Defense for Madoff aides claims ignorance of fraud in closing arguments

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03/13/2014
Reuters Election 2012 Daily round-up of the day's top news from the campaign trail, the White House and all the politics in between
Defense for Madoff aides claims ignorance of fraud in closing arguments
NEW YORK (Reuters) - Attorneys for five former aides of convicted swindler Bernard Madoff wrapped up nearly 20 hours of closing arguments on Wednesday, capping their courtroom campaign to convince a federal jury that their clients never knowingly joined in their boss's Ponzi scheme.
Herbalife says FTC opens inquiry long sought by Ackman
(Reuters) - Herbalife Ltd said on Wednesday that the U.S. Federal Trade Commission had opened an inquiry into its operations, news that briefly sent the nutrition and weight loss company's share price down more than 16 percent.
LPL Financial ends contracts for top execs; CEO gets 32 percent pay jump
NEW YORK (Reuters) - LPL Financial Holdings, one of the fastest-growing U.S. broker-dealers, has terminated employment agreements for its top executives but sweetened some of their benefits and paid two of them $500,000 apiece for giving up the contracts.
U.S. Labor Department offers glimpse into new fiduciary plan
WASHINGTON (Reuters) - A U.S. Department of Labor official on Wednesday offered a sneak peak into a controversial plan to tighten regulation of retirement financial advisers, saying it will both minimize conflicts and still permit brokers to earn a living.
What's good for Yale isn't good for you
(James Saft is a Reuters columnist. The opinions expressed are his own)
U.S. consumer bureau probing firms that link borrowers, payday lenders
WASHINGTON (Reuters) - The U.S. consumer watchdog is investigating companies that link cash-strapped wage earners to payday lenders, according to a document on the Consumer Financial Protection Bureau's (CFPB) website.
Exclusive: Watchdog FINRA scrambles to find arbitrators for Puerto Rico claims
(Reuters) - Wall Street watchdog FINRA said Wednesday it is struggling to find enough arbitrators to handle a mounting number of claims from investors who lost money in closed-end Puerto Rico bond funds.
After the Zynga flop, all eyes on King's coming-out party
SAN FRANCISCO (Reuters) - King Digital Entertainment Plc struck gold with "Candy Crush Saga," the runaway hit that made its way onto hundreds of millions of smartphones and spawned a $1.5 billion franchise.
Stern Advice - Getting real about retirement
NEW YORK (Reuters) - In the retirement planning space, there are two realities.
Swiss banker in U.S. tax case says he was told, 'Don't get caught'
WASHINGTON (Reuters) - A former Credit Suisse AG banker pleaded guilty on Wednesday to conspiring to help U.S. customers evade taxes by using Swiss accounts, and said he did so with the encouragement of his superiors, according to documents filed in court.
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