On February 6, 2012, the Securities and Exchange Commission charged Glencoe, Illinois resident Kenneth A. Dachman with misappropriating over $1.8 million in investor funds and making false and misleading statements to investors in offerings for three companies for which he was the Chairman – Central Sleep Diagnostics, LLC (Central Sleep), Central Sleep Diagnostics of Florida, […]
The Securities and Exchange Commission announced today that Chief Judge Gregory M. Sleet of the United States District Court for the District of Delaware entered final judgments against Defendants Nathan M. Michaud and Gerard J. D’Amaro on January 24, 2012, and Defendant Marc J. Riviello on February 3, 2012, in SEC v. Dynkowski, et al., […]
Citigroup Inc., JPMorgan Chase & Co. and 15 other underwriters reimbursed California $2.3 million last year after a regulatory probe found they used taxpayer funds to pay fees to their lobbyists. Citigroup, the third-biggest U.S. bank by assets, returned $479,994, while Bank of America Merrill Lynch repaid a combined $456,482 and JPMorgan paid $490,449 for […]
Generally held by large investment funds, catastrophe bonds — more familiarly known as cat bonds — were created to offset the risk of natural disasters on insurance companies. The upside to cat bonds is based on the likelihood that a catastrophe will occur, such as a one-in-100-year event versus a one-in-five-year event. If the disaster […]
U.S. regulators are altering plans for a multibillion-dollar computer system to monitor trades on stock exchanges and other markets to blunt criticism that the project would be expensive and to speed the system’s implementation. The Securities and Exchange Commission won’t require firms to report comprehensive trading information to the agency in real time as originally […]