Carlyle Group LP abandoned a plan to ban shareholders from filing class-action lawsuits after U.S. regulators threatened to block a stock sale the private-equity firm is seeking to complete as soon as April. The Washington-based firm amended the documents for its initial public offering on Jan. 10 to include a provision that would have required […]
On December 14, 2011, the Honorable Cathy Seibel, United States District Judge for the Southern District of New York, entered a judgment permanently enjoining Lloyd V. Barriger from violating the registration and antifraud provisions of the federal securities laws. The judgment further orders Barriger to disgorge ill-gotten gains, together with prejudgment interest, and pay a […]
Structured products in Asia have slunk into the shadows ever since Lehman Brothers introduced the words “counterparty risk” to thousands of retail investors. But the investment class still offers value to those who know how to use it, while those selling the products have embraced simplicity and education in an effort to improve understanding among […]
The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Merrill Lynch, Pierce, Fenner & Smith $1 million for failing to arbitrate disputes with employees relating to retention bonuses. Registered representatives who participated in the bonus program had to sign a promissory note that prevented them from arbitrating disagreements relating to the note, […]
SEC Charges Seven Fund Managers and Analysts In Insider Trading Scheme, and Also Charges Hedge Fund Firms Diamondback Capital and Level Global On January 18, 2012, the Securities and Exchange Commission filed a civil injunctive action in the United States District Court for the Southern District of New York charging two multi-billion dollar hedge fund […]