The Wall Street Journal Reports that the US Securities and Exchange Commission has confirmed it has launched proceedings against two former CIBC World Markets brokers, Michael Sassano and Dogan Baruh, who allegedly engaged in mutual funds market timing practices a few years back. Market timing is not actually illegal, but is frowned upon by the mutual funds industry as it can disadvantage long-term investors.
Century Films is currently developing a new programme for Channel 4, based around the lives of people who work in the City.
Here's a little something sent in by one of our readers:
Niche investment bank Jefferies & Co. That's according to Institutional Investor magazine, which has just published its second annual Best Place To Work on Wall Street online poll.
(and financial and professional services too) is ...........Execuzen.
Here's some interesting news on the Merrill Lynch front.
Financial News reports that 'investment banks are offering top rates of compensation and undercharging clients in the fight to hire talent and win business in Russia'. And in Paris, the big boys are up against French firms who are matching them every step of the way.
We're now at the stage in the UK when students can rock up to University after obtaining 'iffy' 'A'-level results and, before they enter the building on the first day, they are awarded their degree certificate. OK, so we exaggerate - but that's how it feels. And we wonder why UK firms are struggle to find decent new talent for their payrolls.
The Wall Street Journal reports that The National Association of Securities Dealers has fined Banc of America Investment Services $3m for 'failing to comply with anti-money laundering rules in high-risk accounts'. The firm has agreed to pay up, but will neither admit nor deny the findings.
The Observer reports that leading private equity firm Permira launched their £5m charity , the Private Equity Foundation, a few days back with a gala dinner. On view was allegedly 'a lissom dancer, a pole and a slippery tutu'. Makes a change from asset stripping!