No surprises here.
But it's not real money.
US regulator the Securities and Exchange Commission has charged two financial advisors and three others in their circle of family and friends with insider trading for more than $1.8m in illicit profits based on confidential information about a Philadelphia-based insurance holding company’s merger negotiations with a Japanese firm.
The U.S. Commodity Futures Trading Commission (CFTC) has announced that Goldman Sachs Execution & Clearing, L.P. (GSEC), a registered futures commission merchant based in New York, N.Y., agreed to pay a $5.5m civil monetary penalty and $1.5m in disgorgement to settle CFTC charges that it failed to diligently supervise accounts that it carried from about May 2007 to December 2009.
And it's Goldman Sachs.
Here are a couple of reader comments on the recent article we ran about the barriers (or lack of them) to success in the financial markets industry.
Here's a note of the results.
Here's a few links to some interesting Bloomberg, New York Post and Reuters stories currently doing the rounds.
Bloomberg reports that Goldman Sachs has hired former U.S. Treasury Department aide and presidential spokesman Richard L. 'Jake' Siewert Jr. as Global Head of Corporate Communications.
J.P. Morgan has once again been a top performer in Institutional Investor magazine’s annual All-Europe rankings for fixed income and equities research.
Stifel agreed to sell the equities business that it bought from Sterne Agee to CRT Capital.
Alliance Trust is facing a new battle over strategy and governance as activist hedge fund Elliott Advisors pushes for the appointment of three new directors to the board of the Dundee-based investment group.
The French financial state prosecutor has requested that HSBC’s Swiss private bank be sent to criminal trial over a suspected tax-dodging scheme for wealthy customers.