Firm to Pay $9.7 Million Over Gifts to Traders
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The Jefferies Group, the brokerage firm, has agreed to pay about $9.7 million to settle charges that it gave $2 million worth of gifts, travel and entertainment to equity traders employed by Fidelity Investments to win business, the Securities and Exchange Commission said yesterday.
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An agreement has been reached on the sale of Cheyne Finance, a structured investment vehicle now known as S.I.V. Portfolio, to bidders including Goldman Sachs, the fundâs receivers, Deloitte & Touche said. The $7 billion S.I.V. Portfolio, managed by the hedge fund Cheyne Capital Management, went into receivership in September. The agreement comes after talks with a number of bidders over the last few weeks and consultation with the informal creditorsâ committees, Deloitte said. Under the deal, certain reinvestment opportunities will be offered to some existing creditors of the company. S.I.V.âs, held by banks, hedge funds or other institutions, issue a mixture of short-term debt and capital and buy longer-term assets, which may pay more interest than the amount they pay on their notes. The vehicles encountered trouble in August when liquidity in the credit markets dried up as investors faced exposure to the subprime market.
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he United States Department of Labor announced yesterday that it had reached a $1.9 million settlement with a contractor for the Target Corporation after finding that the contractor had
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WASHINGTON -- The two founders of the Pilgrim-Baxter mutual fund family have agreed to pay $80 million each to settle regulators&#39; charges of improper trading of their funds to benefit themselves and friends at the expense of longer-term shareholders, the
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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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WASHINGTON, Sept. 11 (Dow Jones/AP) â A federal court in Manhattan has ordered a former Kidder Peabody bond trader, Orlando Joseph Jett, to hand over more than $8.4 million sought by the Securities and Exchange Commission.
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The company that runs the Franklin Templeton mutual funds yesterday admitted that it allowed an investor to market-time its funds in exchange for putting $10
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Seven regional brokerage firms have been fined a total $3.65 million by federal regulators for allegedly failing to disclose that they received payments for issuing research on certain companies, in a settlement announced Wednesday.
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The brokerageâs $7.9 billion write down raised questions about Mr. OâNealâs leadership and the ability of his top executives to manage the risky assets on the firmâs balance sheet.
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Dow said it will receive about $9.5 billion from a unit of Kuwait Petroleum for contributing five of its global businesses worth about $19 billion to the petrochemicals joint venture.
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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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Goldman Sachs Group's  board of directors awarded a $67.9 million bonus to Chairman and Chief Executive Lloyd Blankfein for 2007, according to a filing with regulators.
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Fidelity Investments is in the middle of an investigation about gifts and entertainment on Wall Street. And some on Wall Street have never been happier.
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Goldman Sachs Group's  board of  directors awarded a $67.9 million bonus to Chairman and Chief  Executive Lloyd Blankfein for 2007, according to a filing with  regulators.
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Barclays Bank  has agreed to  pay about $10.9 million to settle charges of illegal insider  trading in bond securities, the U.S. Securities and Exchange  Commission said on Wednesday.
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There are special rules for gifts of stock.
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Giving the gift of investing? Consider this pair of stocking stuffers.