The Investment Management Association responded to the FSA's discussion paper about transparency Friday, counseling that the benefits of more disclosure must be weighed carefully. An IMA release warned against "publishing for publishing's sake," and said transparency measures aimed at providing
Two former Credit Suisse brokers were charged with defrauding their customers by making more than $1 billion in unauthorized purchases of subprime related auction rate securities. In a complaint filed in US District Court for the Southern District of New
The Danish Central Bank will pay 481 million to buy Denmark's eight largest retail bank by market share, reports Reuters. Roskilde could not find a buyer after reporting larger than expected losses on real estate loans. The Central Bank acted
India named a surprise choice as the new head of the nation's central bank Monday to replace outgoing governor Yaga Venugopal Reddy, reports the Financial Times. Duvvuri Subbarao, the former finance secretary, takes the helm at the Reserve Bank of
The Bank of New York Mellon is providing comprehensive fraud protection assistance to all individuals whose personal information was identified in a new forensic review of back up data storage tapes lost by a third party vendor earlier this year.
Law Offices of Howard G. Smith announces that a securities class action lawsuit has been filed on behalf of all persons who acquired the common stock of National City Corporation pursuant and or traceable to the Company's registration statement filed
The Financial Services Authority (FSA) has issued a consultation paper proposing Handbook changes that are required to implement aspects of the Payment Services Directive (PSD). The PSD requires countries in the European Economic Area (EEA) to regulate payment services, including
The SWX Swiss Exchange website now offers a tool for reporting possible breaches by issuers of financial reporting regulations. With this information and reporting platform, the SWX is simplifying communications with relevant stakeholders in the market. The SWX is launching
The European Commission's Legal Certainty Group (LCG) has proposed in its report, entitled "Second Advice", the solutions expected to lead to an improved and harmonised legal framework for holding and settlement of securities through intermediaries and for the processing of
The Goldman Sachs Group, Inc. announced that Goldman, Sachs & Co. has entered into a settlement in principle with the Office of the Attorney General of the State of New York and the Illinois Securities Department (on behalf of the