- Trader’s ‘Nice Little Kiss’ Tests Reach of Regulators
- 3 sue Bank of America alleging discrimination
- Stanford asks for new team to defend him
- Obama to Announce Expanded Offshore Oil Drilling Plan
- Home prices inch up, but analysts fear rebound is fading
- Schottenfeld Pays $1.2 Million to End SEC Insider-Trading Suit
- BofA Hires Staff, Leans on Merrill Lynch to Expand Outside U.S.
Trader’s ‘Nice Little Kiss’ Tests Reach of Regulators – Wall Street Journal
A series of phone calls between a Deutsche Bank AG bond salesman and a hedge-fund trader has landed the two men at the center of a courtroom test of how far federal regulators can go in pursuing insider trading…..
The case has triggered a broader debate: Can federal securities regulators pursue insider-trading charges in the unregulated market for “credit-default swaps,” financial contracts that provide insurance against debt defaults. Banks, hedge funds and traders use them to bet on the likelihood of bonds or loans going bad. The SEC says it has purview over policing the market…..
3 sue Bank of America alleging discrimination – AP
Bank of America Corp. and Merrill Lynch have made female employees “second-class citizens” by purposely giving their male counterparts opportunities to make more money, according to a gender discrimination lawsuit filed Tuesday…..
Stanford asks for new team to defend him – Houston Chronicle
Jailed businessman R. Allen Stanford is changing lawyers again and wants to be tried someplace else.
Criminal defense lawyer Michael Essmyer said Monday that Stanford, 60, founder and chairman of Stanford Financial Group who faces 21 federal criminal charges, has asked for new representation…..
Obama to Announce Expanded Offshore Oil Drilling Plan – Bloomberg
U.S. President Barack Obama will today announce proposals to allow oil and natural-gas drilling off U.S. coastlines in the Atlantic Ocean and Gulf of Mexico when he delivers a speech on energy security.
Obama will propose allowing exploration off the coast of Virginia and, if a Congressional moratorium is lifted, in the Gulf of Mexico 125 miles (201 kilometers) off the coast of Florida, according to an administration official speaking on the condition of anonymity…..
Home prices inch up, but analysts fear rebound is fading – Washington Post
Home prices rose modestly in January, according to a closely watched index released Tuesday, but some housing industry analysts remain concerned about the sustainability of the housing sector rebound.
Home prices in 20 cities tracked by the Standard & Poor’s/Case-Shiller home price index rose 0.3 percent on a seasonally adjusted basis in January compared with December. That was the eighth consecutive monthly increase in the index. Compared with the same period a year earlier, prices were down 0.7 percent…..
Schottenfeld Pays $1.2 Million to End SEC Insider-Trading Suit – Bloomberg
Schottenfeld Group LLC, the firm where three people charged in the Galleon Group insider trading case worked, agreed to pay $1.2 million to settle a lawsuit brought by the U.S. Securities and Exchange Commission.
Schottenfeld will pay $742,400 in disgorgement, a $371,200 fine and $96,200 in prejudgment interest, according to a filing yesterday in federal court in Manhattan. The firm will also cooperate in the SEC’s investigation and related enforcement action, according to the filing…..
BofA Hires Staff, Leans on Merrill Lynch to Expand Outside U.S.- Bloomberg
Bank of America Corp., the lender that bought stakes in foreign firms to expand overseas, will grow on its own by adding staff and offering services through Merrill Lynch, according to the company’s head of global corporate banking.
“Merrill Lynch had three times as many relationships as we had at Bank of America” in Europe, the Middle East, Africa and Asia, Paul Donofrio said in a March 29 interview. Emerging markets are “where we will find the most immediate opportunities,” he said…..
Tags: Allen Stanford, CDS, Deutsche Bank, Discrimination, Galleon, Hedge funds, Lawsuit, Merrill Lynch, Millennium Partner, Oil drilling, Raj Rajaratnam, SEC
