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FBI examining possible Heinz insider trades

The FBI is examining possible insider trading in Heinz shares ahead of last week’s buyout announcement, after US regulators identified suspicious trades from a Swiss account, a spokeswoman said Tuesday. “We’re aware of the trading anomalies the day before the announcement,” said Federal Bureau of Investigation spokeswoman Kelly Langmesser. “And…

DOJ casts wide net with mortgage subpoenas

WASHINGTON (Reuters) – A U.S. Justice Department inquiry into the packaging and sale of home loans by the biggest U.S. banks casts a wide net and appears to significantly overlap with other enforcement efforts, according to people who have viewed subpoenas sent to the firms. The civil subpoenas that were…

SEC appeals Citigroup settlement

NEW YORK — The US Securities and Exchange Commission on Thursday appealed a court ruling which had blocked a deal to fine Citigroup $285 million on the grounds the regulator had let the bank off too lightly. The SEC said the judge’s call for Citigroup to be forced to admit…

U.S. watchdog suspects leaks at ratings agency

WASHINGTON — The internal procedures of one of the world’s top three ratings agencies appear to allow leaks of its decisions, according to a report by the US Securities and Exchange Commission (SEC). At one of the larger agencies, “the procedures for disseminating a pending rating action appeared to allow…

US banks to settle on financial crisis penalties: report

NEW YORK (AFP) – Several major US banks are close to an agreement with the Wall Street regulator to settle fraud allegations related to the “toxic” mortgages behind the 2008 financial crisis, a report said Friday. An initial agreement with the Securities and Exchange Commission (SEC) could be settled next…

Lehman Brothers execs may escape charges

CHICAGO (Reuters) – A government probe into the fall of Lehman Brothers Holdings Inc has hit so many snags that enforcement officials fear they may never be able to bring civil or criminal charges against company executives, the Wall Street Journalreported on Saturday. According to the paper,Securities and Exchange Commission officials have begun to doubt…

Ex-Goldman director charged with insider trading

WASHINGTON – The US markets regulator charged former Goldman Sachs and Procter & Gamble director Rajat Gupta on Tuesda with insider trading in a high-profile hedge fund case. The Securities and Exchange Commission announced the charges for “illegally tipping Galleon Management founder and hedge fund manager Raj Rajaratnam with inside…

Goldman Sachs fraud charges ‘just the tip of the iceberg’: prof

Charges of fraud brought against banking titan Goldman Sachs by the Securities and Exchange Commission rocked financial markets Friday, but experts say the allegations are merely the first of many to come, Reuters reported.…

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