In an unprecedented sweep, several Japanese firms and their executives have been charged with conspiracy to undertake price fixing and agreed to settle amounts with the US Justice Department.
Legal & Regulatory
NCUA files case against Morgan Stanley and 8 others for selling USD 2.4 billion in faulty securities
A US regulator filed a case against Morgan Stanley and eight other lenders for selling faulty securities to two credit unions.
Citigroup's legal fees stand to be highest on record
Compared to JPMorgan Chase, Citigroup's legal costs would easily reach USD5 billion. The next US bank primed for legal and regulatory scrutiny would be Citigroup Inc.
CFTC reminds investors of intent of Dodd-Frank Act
The CFTC warned that all buyers must be allowed to participate and operations need to be transparent as required by the Dodd-Frank Act.
Arkansas gets Medicaid funds under Obamacare
Arkansas is the first of many states in the US that would receive funds for Medicaid expansion under Obamacare.
Latest News
New product offers have been made by NASDAQ OMX such as USD10,000 contracts for its clients in the currency market.
Royal Park claims fraud in the marketing and sale of residential mortgage backed securities. A suit was filed against the Credit Suisse Group AG in New York for USD359 million worth of residential mortgage-backed securities.
JPMorgan Chase & Co are deep in the negotiations to settle the probes conducted at the state and federal levels.
France and the European Union are conducting inquiries as to the tactics employed by Apple that would violate antitrust regulations.
Megafon is discussing with small lending institutions as to the eventual integration of banking services with its telecommunications services.
Seth Klarman's Baupost Group, for only the second time, would return money to its clients. One of the largest hedge funds in the world, Seth Klarman's Baupost Group has nearly USD28 billion in its portfolio, had laid out plans to return money to its clients by the end of 2013.
Saudi Arabia's taxi business is in chaos with the conflicting regulations, leading to the pull out of investors.
The National Credit Union Administration (NCUA) had filed complaints against Morgan Stanley and eight other financial institutions for selling faulty mortgage-backed securities.
Xinyi Glass announced plans to spin off Xinyi Solar Holdings and list it in the Hong Kong market. China-based Xinyi Glass Holdings Ltd announced its intention to spin off Xinyi Solar Holdings Ltd and list the business in the Hong Kong bourse.
