Posts tagged with: "financial+services"
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21 May 2013, 1:41 pm
One of the nation’s largest brokerage firms, LPL Financial, is paying $7.5 million to settle accusations that it made misstatements to regulators and failed to properly supervise its brokers’ communications. [read post]
21 May 2013, 1:23 pm
After beating back a shareholder plan to have a fully independent board, the bank faces more pressing concerns -- from preventing similar trading losses to mending fences with regulators. [read post]
21 May 2013, 12:46 pm
A lawyer for Rajat Gupta, the former Goldman Sachs director found guilty last year of leaking the bank’s boardroom discussions to his friend, argued that an appeals court should overturn his client’s conviction and grant a new trial because the lower-court judge erroneously admitted wiretapped conversations. [read post]
21 May 2013, 10:54 am
The Hong Kong securities regulator announced on Tuesday that it had discovered possible financial irregularities at the just-shuttered Hong Kong Mercantile Exchange and said it referred the matter over to the police for investigation. [read post]
21 May 2013, 6:33 am
Jamie Dimon and 10 directors of JPMorgan Chase were all re-elected at the bank's annual shareholder meeting in Tampa, Fla. [read post]
21 May 2013, 5:48 am
The vote to split the roles of chairman and chief executive -- both of which have been held by Jamie Dimon since 2006 -- received only 32.2 percent of shares voted, down from a vote of roughly 40 percent in support of a similar proposal last year. [read post]
21 May 2013, 1:34 am
The money manager BlackRock agreed on Tuesday to buy the European and Asian real estate investment firm MGPA for an undisclosed fee. MGPA had around $12 billion of assets under management at the end of March. [read post]
20 May 2013, 5:00 pm
SAC Capital Advisors is bracing for another round of withdrawal requests as fears grow that insider trading investigations could further damage Steven A. Cohen and his firm. [read post]
20 May 2013, 2:08 pm
Nine Wall Street firms have been actively involved in creating an alternative to one of Bloomberg L.P.’s most widely used programs, its chat messaging network, people briefed on the effort said. [read post]
20 May 2013, 9:59 am
According to Investment News, the Financial Industry Regulatory Authority (FINRA) has fined VSR Financial Services Inc. $550,000, in addition to a 45-day suspension of their chairman, Don Berry, for over concentrating client portfolios in alternative investments.
On May 15th, 2013 VSR entered into a Letter of Acceptance, Waiver, and Consent which alleges that Mr. Berry “failed to adequately implement the firm’s supervisory system pertaining to its supervision of concentrated positions… [read post]
20 May 2013, 9:49 am
China’s leadership may be ready to discuss reforms in October. Yet any policy changes may satisfy calls for deeper economic reforms but disappoint hopes for broader political freedom, the author writes. [read post]
20 May 2013, 8:38 am
The Wall Street bank is selling its remaining shares in the Industrial and Commercial Bank of China, signaling the end of a highly profitable investment it made in 2006. [read post]
20 May 2013, 8:04 am
The Securities Industry and Financial Markets Association announced that Judd A. Gregg, a former Republican senator from New Hampshire, would become the group's chief executive. [read post]
20 May 2013, 7:09 am
Barbara S. MishkinThe House Financial Services Committee’s Subcommittee on Financial Institutions and Consumer Credit has scheduled a hearing for tomorrow, May 21, on “Qualified Mortgages: Examining the Impact of the Ability to Repay Rule.”
There will be one panel consisting of two witnesses from the CFPB. The CFPB officials scheduled to appear are Peter Carroll, Assistant Director for Mortgage Markets, and Kelly Cochran, Assistant Director for Regulations.
[read post]
20 May 2013, 5:47 am
Primerica Financial Services is a multi-level marketing company that sells life insurance and investments. I’ve written about Primerica in the past, questioning whether Primerica is a pyramid scheme, and whether PFS is a scam. The bottom line is that Primerica sells legitimate products and services (life insurance and investments), but sells them at inflated prices [...] [read post]
20 May 2013, 4:37 am
Morgan Stanley has agreed to sell its Indian wealth management unit to the British bank Standard Chartered for an undisclosed amount. [read post]
19 May 2013, 9:27 pm
This blog has questioned whether employees who file discrimination lawsuits get a fair shake from federal judges who have lifetime tenure barring bad behavior. Now there is a comprehensive study that shows the U.S. Supreme Court is the most pro-business court since World War II. An article in The Minnesota Law Review reviews some 2,000 U.S. Supreme […] [read post]
19 May 2013, 6:33 pm
At JPMorgan Chase, the move to split the jobs of chairman and chief executive, now held by Jamie Dimon, comes as the bank is actually prospering. [read post]
17 May 2013, 1:09 pm
The Council of Institutional Investors has asked the Securities and Exchange Commission to intervene after Broadridge, main company that provides real-time tabulations on shareholder votes, stopped providing such information to the groups that sponsor proposals. [read post]
17 May 2013, 11:14 am
As Rajat Gupta’s appeal is scheduled to be heard next week, a New York Times magazine article examines the circumstances that led to his partnership with Raj Rajaratnam, the billionaire head of the Galleon Group hedge fund. [read post]