DOJ, SEC hit Lucent with $2.5 million in fines
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Lucent spent more than $1M on vacations for Chinese officials, and misrepresented the trips in corporate records, U.S. regulators charge.
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SAN FRANCISCO (CBS.MW) -- The former chairman of Lucent Technologies and two other past employees likely will face civil enforcement actions by the Securities and Exchange Commission in connection with a bribery investigation in Saudi Arabia, the company
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The U.S. Federal Communications Commission (FCC)Â has proposed fines totaling $2.8 million to three wireless carriers for failing to meet coverage requirements for an emergency dialing service called E911, the agency said Thursday.
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The Ontario Securities Commission warned four mutual fund firms including CI Fund Management Inc. and AGF Funds Inc. they may face enforcement action in a probe of improper trading in the C$475 billion ($368 billion) industry.
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Twenty-nine investment firms, including some of Wall Street's biggest names, have been fined a total $9.2 million by securities regulators who said they were late in reporting disciplinary history and other data about their brokers. The investment arms of Merrill Lynch &amp; Co. and Wachovia Corp. were barred from registering new brokers for five business days.
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The NASD on Monday said it fined  Citigroup Global Markets Inc. $250,000 for distributing  inappropriate hedge fund sales literature, in the regulator's  largest fine involving hedge fund sales by broker-dealers.
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It was less than two years ago that Wall Street analysts Jack Grubman and Henry Blodget paid $19 million in fines and were banned from the securities industry for life to settle allegations that they'd promoted stocks like WorldCom and Global Crossing as the telecom companies swan-dived into an empty swimming pool. Shortly after that, in April 2003, 10 of ...
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WASHINGTON, Oct 25  - US brokerage regulator NASD said Monday it had fined Citigroup Global Markets Inc. a quarter of a million dollars in its largest ever enforcement action after the financial giant
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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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Proposal would levy $2.8 million in fines to Alltel, Sprint, and U.S. Cellular for failing to meet E911 coverage requirements.
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Brokerage Charles Schwab &amp; Co. has agreed to pay a &#36;350,000 civil fine to settle federal regulators' allegations that it illegally allowed certain customers to change mutual fund trade orders after the market's close.
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Two former fund managers for Putnam Investments of Boston agreed to pay a total of $1.5 million to settle allegations they inappropriately traded mutual fund shares and potentially harmed other fund investors, federal and state regulators said yesterday.
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A federal judge in New York has approved a $2.6 billion settlement of a class-action lawsuit on behalf of more than 170,000 WorldCom investors who claimed they were defrauded by Citigroup.
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The settlement with the Securities and Exchange Commission capped a 2 1/2-year investigation. Qwest did not admit or deny any wrongdoing.
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SAN DIEGO -- Alcatel - Lucent told a jury it is owed almost $2 billion for Microsoft Corp.'s use of the standard technology for playing music and audio files on a computer, a dispute that may affect hundreds of companies that rely on MP3.
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HARTFORD, July 23  â The Hartford Financial Services Group paid $115 million to settle accusations that it allowed illegal trading in some mutual funds, the company and the Connecticut attorney general, Richard Blumenthal, announced on Monday.
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An investment bank in Estonia, Lohmus Haavel & Viisemann, and a former worker agreed to pay $15 million to settle Securities and Exchange Commission allegations that they had made illegal trades based on information from stolen news releases. The former employee, Oliver Peek, will forfeit $13 million in profit and will pay a $1.35 million fine. The bank will pay a $650,000 penalty, the S.E.C. said. They neither admitted nor denied wrongdoing in agreeing to the sanctions. The S.E.C.âs lawsuit accused Lohmus Haavel, which is based in Tallinn, of using a computer program to retrieve information on more than 200 United States companies from Business Wireâs secure Web site before announcements were made public from January to November 2005.