Update 4: Invesco, AIM Advisors Settle for $376.5M
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Invesco Funds Group and its sister company agreed Tuesday to pay $376.5 million and surrender another $75 million in fees to settle allegations of improper trading, a deal that will send nearly all the money to investors harmed by the practice.
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Former ImClone Systems Inc. IMCL.O  Chief Executive Sam Waksal has agreed to pay a $3 million civil  penalty to settle charges over the insider trading scandal that  also involved lifestyle entrepreneur Martha Stewart, U.S.  regulators said on Wednesday
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CHICAGO _ Discount brokerage Charles Schwab Corp. on Tuesday settled regulators&#39; allegations that it allowed scores of improper mutual fund trades, agreeing to pay a $350,000 fine.
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US investment fund Steel Partners II on Thursday offered to buy 90 percent of Gencorp Inc. (GY.N: Quote, Profile, Research) it does not already own for about $700 million
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Massachusetts gets a $5 million settlement as the fund firm admits that an investor engaged in market timing.
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The PIMCO mutual fund group's adviser and two affiliates will pay &#36;11.6 million to settle U.S. Securities and Exchange Commission charges involving improper "revenue-sharing" payments to brokers, said a source familiar with the case on Wednesday.
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Time Warner Inc. and other  defendants including America Online and Ernst &amp; Young have  agreed to pay &#36;23 million to settle a lawsuit accusing them of  defrauding pension and investment funds in Pennsylvania, the  state&#039;s Attorney General said on Thursday.
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Financial service group Fortis has  moved to sell almost all of its remaining 36 percent stake in  Assurant, worth about $1.55 billion, after floating the U.S.  insurer nearly a year ago.
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The former chief executive of Invesco Funds Group has agreed to pay &#36;500,000 to settle civil fraud charges relating to improper trading at the mutual funds company, his lawyer said Wednesday.
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First it was Fidelity, the second-biggest mutual fund family in the United States. It announced 12 days ago that it was slashing the expense fees on five of its index funds.
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All 17 of Invesco's U.S. retail mutual funds will adopt the AIM Investments label later this month, as Amvescap PLC seeks to restore investor confidence following an improper trading scandal and &#36;451 million settlement.
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Invesco Funds Group Inc. and two other mutual-fund units of Amvescap LLC will pay $375 million to settle Securities and Exchange Commission charges
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China has agreed to pump $5 billion into Morgan Stanley as the U.S. investment bank reported a stunning fourth-quarter loss fueled by $9.4 billion in write-downs in subprime mortgages and other assets.
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Banking and insurance conglomerate ING GroupÂ has finalized contracts worth â¬750 million ($994 million) with a consortium of companies to provide workspace services for its 53,000 employees in Europe.
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Charles Schwab Corp. (SCH.N: Quote, Profile, Research) on Tuesday said it had agreed to pay a fine of $350,000 to settle SEC enforcement proceedings related to the processing of mutual fund orders.
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(InfoWorld) - Banking and insurance conglomerate ING Group has finalized contracts worth â¬750 millionÂ ($994 million) with a consortium of companies to provide workspace services for its 53,000 employees in Europe. The contracts with Royal KPN, Getronics, Atos Origin, and AccentureÂ are each for seven years and cover the installation, maintenance, and support of desktop PCs, laptops, printers and telephones, the companies said Thursday. It's the biggest of three outsourcing deals that ING has finalized recently, worth a combined total of â¬1.3 billion. They are part of a cost-cutting plan announced last November that is designed to save the company â¬460 million per year, including â¬230 million from operations and IT. ABN AMRO Bank made a similar moveÂ last year, announcing a plan to outsource its IT operations worldwide in a series of deals worth â¬1.8 billion over five years. The bulk of that contract went to IBM. KPN took the biggest slice of the latest ING contract. It was awarded â¬269 million to provide fixed and mobile communications, call center, LAN (local area networking) and conferencing services for staff in the Netherlands and Belgium. Atos Origin was awarded â¬216 million to design and manage ING's back-end office automation, including e-mail and the active directory, and provide related support for end users. Getronics was awarded â¬213 million for help desk and on-site support for end users, as well as hardware purchasing and asset management. Accenture was awarded â¬52 million to be the "integrator," coordinating services and managing the supplier contracts. When ING announced an initial agreement with the four companies in July it said the contracts would run for five years and be worth about â¬800 million. It estimated that 550 full-time employees would be transferred to the contractors. That number will now be 430, it said Thursday. Of the earlier outsourcing contracts, on Nov. 6 ING finalized a six-year, â¬200 million deal with LogicaCMG for application management, IT maintenance and testing. And on Dec. 6 it signed a seven-year, â¬350 million contract with the U.K.'s Astron to process its banking and insurance documents.
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The Wachovia Corporation agreed to pay a $37 million civil fine Thursday to settle federal regulators&#39; accusations that the company violated disclosure rules