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Accounting News Roundup: Guilty Banks; Lawsky Leaving; Your Plastic’s No Good Here | 05.21.15

Rigging of Foreign Exchange Market Makes Felons of Top Banks [DealBook]
Citigroup, JPMorgan Chase, Barclays, and RBS all pleaded guilty, "to a series of federal crimes over a scheme to manipulate the value of the world’s currencies. The Justice Department accused the banks of collusion in one of the largest and yet least regulated markets, noting that at one bank one trader remarked 'the less competition the better.' " 

SEC proposes rules to gather more data on mutual funds, advisers [Reuters]
The new rules, "would require mutual funds to file monthly reports detailing their position-level holdings, as well as data about their repurchase agreements, securities lending activities, counterparty exposures, risks they face from interest-rate spikes, and the terms of their derivatives contracts."  

Benjamin Lawsky, Sheriff of Wall Street, Is Taking Off His Badge [DealBook]
Lawksy had his way with the likes of PwC and Deloitte.

Paying with credit card? Not anymore at this major CPA firm [ABF]
CliftonLarsonAllen says it's no longer taking fantastic plastic to "protect client information."

'Pantsuit aficionado': Hillary Clinton joins professional social network LinkedIn [Telegraph]
Looking for endorsements, no doubt.

The US just declassified al-Qaeda’s job application form. It's bizarrely corporate. [Vox]
Questions include: "What objectives would you would like to accomplish on your jihad path?" and "Do you wish to execute a suicide operation?"

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