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Investigations
Latest Headlines
Latest Headlines
MF Global fallout hits CME Group
The implosion of MF Global was a seismic event for the entire futures markets, including the top SROs.
The fact that a broker-dealer could simply lose $1 to $1.2 billion in customer money without a clue as to how it happened continues to boggle the mind. As does the fact that a CEO could run s
MF Global spotlight shifts to other executives
Much of the anger over the MF Global scandal has been directed toward former CEO Jon Corzine, who claims he has no idea how $1 to $1.2 billion in customer funds vanished.
But while he deserves scorn and condemnation, surely he's not the only culpable executive. So it's probably a good thing th
LIBOR investigation goes global
The extent to which top banks can manipulate interbank offered rates, which are set by panel banks that submit offered rates, has been a big issue recently.
Most of the publicity has centered on LIBOR, but possible TIBOR manipulation has also been an issue. Indeed, regulators in Japan have sai
Judge critical of SEC settlements
There is something refreshing about Judge Jed Rakoff's critiques of various SEC settlements with banks, notably Bank of America and Citigroup.
Rakkoff raises some common sense issues that reveal the folly of the settlements. For example, why should companies be able to settle without admitting
SAC profited from dubious trades
The big question right now about SEC's historic insider trading investigations is how many more truly big fish---beyond convicted insider trading mastermind Raj Rajaratnam---will ever be charged. One big fish is Rajat Gupta, the former head of McKinsey and a Goldman Sachs director no less. He has
More criticism of Citigroup CDO settlement
Since the SEC and Citigroup announced a $285 million deal to settle marketing fraud charges related to single CDO deal, the criticism has steadily mounted.
Some have suggested that the settlement isn't nearly onerous enough, especially if you compare the alleged crimes committed in the Citigro
Bank of America alone in search of settlement
Not too long ago, people were hopeful that a settlement between state and federal regulators and the top banks and mortgage servicers would emerge quickly.
Those hopes have been dashed over the last several months, as the settlement process has lapsed into a free for all. Lots of fractures ha
The human toll of the insider trading scandals
The insider trading investigations and subsequent trials have created lots of media-genic drama, with all the wiretaps, office raids, confidential informants and racy banter. But the human toll that all this takes is something that has been under-appreciated.
Obviously, those who have done wro
SEC looking at SAC's MedImmune trades, limited partners nervous
The SEC has been taking a look at MedImmune's takeover by AstraZeneca for almost two years, as part of a larger probe of big health-care deals and an investigation of whether or not hedge funds and bankers were illegally trading on inside information.
Today's blockbuster news development that
How long will limited partners stick with SAC Capital
SAC Capital, founded by the controversial hedge fund manager Steven Cohen, has been faring well despite the regulatory storm clouds that are hovering over it . The mere whiff of scandal has sunk lesser fund firms like Galleon, FrontPoint Partners, Level Global Investors and others.
"One r
