SEC slaps fine on AIG units over higher charges

US Securities and Exchange Commission (SEC) has slapped penalties on AIG's three affiliates for steering customers to high-fee products. AIG is also offloading its brokerage unit owing to stringent norms. AIG has agreed to pay $9.5 million for settling the regulator's claims.

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Poll reveals 31% of investors say fines against banks not enough to change bad behavior

Thirty-one percent of investors said the settlements with regulators and fines issued by regulators against banks for selling shoddy mortgages were not enough to cause a change in the behavior of the lenders, the Bloomberg Global Poll revealed.

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Qualcomm slapped with USD173 million penalty for unintentional infringement

An Orlando, FL federal jury awarded USD173 million in penalties upon Qualcomm for patent infringement perpetrated upon ParkerVision.

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Judge to proceed with civil trial on defective mortgages against Countrywide Financial

US District Judge Jed Rakoff had set a hearing on the issues and a date for his rulings by December on the civil case against Countrywide Financial Corp's defective loan transactions with Fannie Mae and Freddie Mac.

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JP Morgan and CFTC reach settlement accord

To address wrongdoing in the 'London Whale' scandal, JP Morgan enters into a settlement agreement with the CFTC.

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US and Swiss governments agree on step closer to removal of secrecy laws

The new agreement between US and Swiss governments would allow payment of fines or deferment of prosecution from tax evasion committed by US clients.

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