Security: News
NASD order Citigroup to pay over USD1.1million for brokers improperly obtained mutual fund sales 30/08/2006
NASD, the the leading private-sector provider of financial regulatory services, dedicated to investor protection and market integrity through effective and efficient regulation and complementary compliance and technology-based services, has fined Citigroup Global Markets Inc. $400,000 for supervisory and record keeping violations in connection with a ploy by more than 100 of its brokers to improperly obtain waivers of mutual fund sales charges by falsely claiming that its customers were disabled.
US hedge fund manager prosecuted for insider trading 09/08/2006
A hedge fund manager has pleaded guilty in a US federal court to five counts of insider trading for having aggressively purchased Citizens Bank common stock and options based on a tip he received from a Citizens employee about the bank's then-impending merger with Cleveland-based Charter One Financial.
Coastal Banc faces $15 million damages claim after Slaga fraud 03/08/2006
A Harris County jury in Texas says Houston-based Coastal Banc SSB should pay $15.7 million for its role in a stock fraud scheme that cost investors millions.
Full Disclosure Inc: will it help American investors keep tabs on their advisers? 03/08/2006
Full Disclosure, a provider of collaborative financial services accountability on the Internet, has released a new service for investors called Fulldisclosureinc.com, which provides them with an Internet platform to collaboratively monitor the services provided by financial advisors and their firms.
