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Structured CDs examined by FINRA

FINRA is examining sales of certificates of deposit tied to derivatives after banks sold a record number of the investments last year. The industry-backed regulator wants to make sure the so- called structured CDs, where principal is protected by the Federal Deposit Insurance Corp., are properly understood by investors given their increasing complexity and lengthening […]

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SEC charges individual for misappropriation and offering scheme

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, […]

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Three Defendants Settle and Additional Defendant Charged in Stock Manipulation Ring

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., […]

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Citigroup, JP Morgan and others pay California $2.3 million in muni investigation

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 […]

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Catastophe bonds (CAT) become increasingly popular

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 […]

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