Britain’s securities watchdog, the Financial Services Authority, said Thursday that it was charging five people on 17 counts of insider trading. All of the individuals are linked to the brokerage house Blue Index. They include the co-owners and directors, James Paul Sanders and James Swallow; Mr. Sanders’s spouse, Miranda; a senior trader, Christopher Hossain; and [...]
J. Scott Applewhite/Associated PressElizabeth Warren, the head of the new Consumer Financial Protection Bureau, with the Treasury secretary, Timothy F. Geithner. The Consumer Financial Protection Bureau is finally at home in the nation’s capital. The fledgling bureau, created by the Dodd-Frank financial overhaul law, recently opened its headquarters at 1801 L Street in Northwest Washington. [...]
Jason Alden/Bloomberg NewsThe Financial Services Authority’s headquarters in London. 11:10 a.m. | Updated As F.B.I. agents raided hedge funds in New York, Boston and Stamford, Conn., this week as part of a widening investigation into insider trading, hedge fund executives in London may well have sighed in quiet relief. While the Financial Services Authority, Britain’s [...]
By MICHAEL J. de la MERCED 6:53 p.m. | Updated The Ambac Financial Group, the bond insurer waylaid by the financial crisis, moved closer to a bankruptcy filing on Monday, announcing that it plans to skip an interest payment on some of its bonds. Ambac said that it is seeking support for a prepackaged bankruptcy [...]
The financial industry continues trying to thwart the Obama administration’s effort to set up an effective consumer protection agency, though one is needed now more than ever, the new consumer czar, Elizabeth Warren, pictured, charged on Thursday. “We fought hard to get here, and those who tried to block the agency’s creation have already said [...]
Three former Countrywide Financial executives, including the co-founder, Angelo R. Mozilo, agreed on Friday to pay more than $73 million to settle civil fraud and insider-trading charges from the Securities and Exchange Commission days before a trial was to start. Mr. Mozilo, the most prominent financial executive charged after the credit crisis, agreed to repay [...]
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