Search Results for: Justice Department
JPMorgan: Feds pursue criminal forex probe
November 4th, 2014
JPMorgan said it faces a criminal probe of its foreign exchange business and boosted its legal budget by $1.3B. JPMorgan Chase (JPM) disclosed Monday that the New York-based global bank is in talks with the Department of Justice over ...
Antitrust Goes International
October 30th, 2014
In a globalizing world economy, it’s perhaps no surprise that mergers and acquisitions are also crossing national borders more frequently–and that the risk of cartel-like behavior across national borders is also rising. The OECD lays out some background in ...
73 Swiss banks ask U.S. to revise proposed tax amnesty deals
October 24th, 2014
Lawyers representing 73 Swiss banks seeking to avoid a tax-evasion probe by U.S. authorities wrote a letter to the U.S. Department of Justice raising questions over a dozen demands, including the banks’ cooperation with other nations. In the letter ...
Former Hanlong Executive Charged on Insider Trading
October 10th, 2014
A mining executive who fled Australia three years ago has been extradited from Hong Kong and charged with 104 insider trading offenses linked to planned takeovers by a Sichuan Hanlong Group unit. Xiao Hui, also known as Steven Xiao, ...
GSK China consumer healthcare unit linked to DOJ probe in 2012
September 9th, 2014
A U.S. anti-bribery probe into GlaxoSmithKline Plc (GSK.L) touched on the firm’s Chinese consumer healthcare business in 2012, internal documents show, suggesting the drugmaker’s compliance problems in China could go wider than previously revealed. GSK confirmed it had conducted ...
China antitrust regulator claims Microsoft sales information not transparent
August 26th, 2014
Microsoft Corp’s internet browser and media player are being targeted in a Chinese antitrust probe, raising the prospect of China revisiting the software bundling issue at the heart of past antitrust complaints against the firm in the West. Microsoft ...
Yen Falls as Russia Eases Ukraine Tension
August 11th, 2014
The yen fell versus 14 of its 16 major peers as concern eased about tensions in Ukraine after reports last week that Russia’s warplanes ended drills and the nation is seeking to mediate between Kiev and rebel forces. The ...
Former CEO of ConvergEx Subsidiary faces SEC’s charges
August 8th, 2014
The Securities and Exchange Commission (SEC) has appointed charges to the former chief executive officer of a broker-dealer subsidiary of ConvergEx Group LLC for deceiving brokerage customers with hidden fees to buy and sell securities. SEC claims that the ...
Bank of America, U.S. near record $17B settlement
August 7th, 2014
The Department of Justice and Bank of America have reached a record settlement in principle in which the bank will pay just under $17 billion to resolve allegations related to fraudulent marketing of mortgage-backed securities that helped cause the ...
New York Governor involved in BNP deal to get $1 billion more for NY state fund
July 31st, 2014
Only days before U.S. authorities reached a landmark $8.97 billion settlement with BNP Paribas over the bank’s dealings with countries subject to U.S. sanctions, New York Governor Andrew Cuomo intervened to ensure the state government got a much bigger ...
