Search Results for: Securities and Exchange Commission
State Street Agrees to Settle Forex Fee Suit for $60 Mln
July 10th, 2014
State Street Corp. (STT) agreed to pay $60 million to settle investor claims it inflated revenue by overcharging clients for foreign-exchange services, in a pact that resolves almost four years of litigation. The preliminary accord filed in Boston federal ...
Profits Vanish in Venezuela After Currency Devaluation
July 9th, 2014
Brink’s, the armored car company, could see about $400 million in revenue disappear this year from its operations in this country. Procter & Gamble announced a write-down of $275 million on its Venezuela business. American Airlines and Delta Air ...
U.A.E. Bank Rules, EU Bank Legal Fees, Tibor: Compliance
July 8th, 2014
The United Arab Emirates may amend rules governing bank lending against shares after reviewing June’s stock price swings in Dubai and Abu Dhabi, the market regulator said yesterday. Representatives of the Securities and Commodities Authority, the central bank and ...
U.K. Stocks, Power-Tax Rebates, Bonus Remarks: Compliance
July 7th, 2014
Britain’s markets regulator should investigate whether the closing prices of stocks are being manipulated, according to lawmakers. Conservative Mark Garnier pressed for the investigation by the Financial Conduct Authority at a July 3 hearing of the Treasury Committee in ...
Piketty with Chinese Characteristics
July 4th, 2014
In his bestselling book Capital in the Twenty-First Century, Thomas Piketty argues that capitalism aggravates inequality through several mechanisms, all of which are based on the notion that r (the return on capital) falls less quickly than g (growth ...
The Sterner, Stricter SEC
July 1st, 2014
As Mary Jo White sees it, the Securities and Exchange Commission’s job is to patrol Wall Street and Main Street and catch financial fraudsters. Since becoming the agency’s chair in April 2013, White, a former federal prosecutor and defense ...
Regions Financial to pay $51 mln for alleged accounting misdeed
June 26th, 2014
Regions Financial Corp, a large U.S. southeast regional bank, agreed to pay $51 million to settle federal and state allegations it failed to account properly for souring commercial loans during the financial crisis, boosting its earnings. The settlements announced ...
HK Targets Tax-Friendly Policies For Asset Management
June 16th, 2014
“As more wealth is generated in Mainland China, … Hong Kong is ideally positioned to facilitate the flow of capital from the Mainland in a controlled manner, acting as the asset management center for outbound capital from the ...
BNP Keeps Investors Guessing About U.S. Sanctions Penalty
June 16th, 2014
BNP Paribas SA (BNP) has given investors scant information about how much it expects to pay to settle a criminal probe of U.S. sanctions violations. The bank told shareholders at an annual meeting on May 14 that the settlement ...
Predatory Trading Rules Considered in Canada
June 13th, 2014
The Ontario Securities Commission may consider measures to regulate high-frequency trading if evidence of predatory activity is found as it reviews its market-structure policies, Chairman Howard Wetston said. “The important question for us is, is our market fair?” Wetston ...
