A government watchdog group has sent a letter to congressional committees in charge of financial oversight asking them to challenge the government’s reliance on financial self-regulatory organizations like the Financial Industry Regulatory Authority (FINRA).

Lloyd’s of London must pay the legal fees of Allen Stanford, accused of operating a $7 billion Ponzi scheme to defraud investors.

Insurance brokerage Willis Group Holdings now faces a second federal lawsuit, linked to a $7 billion Ponzi scheme allegedly perpetrated by Allen Stanford and Stanford Financial Group.

In the latest suit, …  Read →

Insurance brokerage Willis Group Holdings has been accused of contributing to the massive fraud allegedly perpetrated by Allen Stanford and his Houston-based firm, Stanford Financial Group.

A group of former Stanford …  Read →