FINRA's failure to uncover Madoff, Stanford schemes points to need for reforms, review saysOctober 2nd, 2009 Review: FINRA needs reform after Madoff, StanfordWASHINGTON — The brokerage industry's self-policing body must make reforms to protect investors after its inspections failed to uncover the massive Ponzi scheme run by Bernard Madoff and the alleged fraud by R. Allen Stanford, according to a special review.
CFTC, Citigroup Private Bank reach settlement on charges of compliance violationsOctober 1st, 2009 CFTC, Citigroup Private Bank reach a settlementNEW YORK — The U.S. Commodity Futures Trading Commission said Thursday that it reached a settlement with Citigroup Private Bank GP Inc.
Target will pay $600,000 civil penalty for importing and selling toys with lead paintOctober 1st, 2009 Target penalized for toys with lead paintWASHINGTON — Target Corp. has agreed to pay a $600,000 civil penalty for importing and selling a variety of toys with high levels of lead paint on the surface.
Wall Street underwriters fined, restitution ordered over communications failures in Vonage IPOSeptember 22nd, 2009 Wall Street firms fined over bad IPO informationWASHINGTON — An independent securities industry regulator on Tuesday announced fines totaling $425,000 against three Wall Street firms over supervisors' alleged failures to prevent customers from getting faulty information about a 2006 initial public offering. The firms — Citigroup Global Markets, UBS Securities and Deutsche Bank Securities — also were ordered to pay as much as $420,000 in restitution to customers who were mistakenly told they hadn't received share allocations in Vonage Holdings Corp., which provides an Internet-based phone service.
Report: Citigroup plans share offering, wants Treasury to sell part of stakeSeptember 14th, 2009 Report: Citigroup plans to pare US stakeNEW YORK — Citigroup Inc. is reportedly considering a plan in which the Treasury Department would sell part of its holdings in the bank, while the bank would issue new shares to the public as part of a multibillion-dollar stock offering.
Stock regulator raises profile with ads as Congress seeks to improve financial oversightJuly 24th, 2009 Stock regulator raises profile with national adsWASHINGTON — A little known industry-sponsored group that oversees stock brokers is raising its profile with a national media campaign as Congress works on tightening the government's regulation of banks and other financial service providers. The Financial Industry Regulatory Authority, or FINRA, is running a series of TV, radio and Internet commercials promoting its work on protecting investors from unscrupulous brokers.
California resort where AIG sponsored luxury retreat amid federal bailout seized by CitigroupJuly 21st, 2009 Citigroup seizes resort where AIG held retreatDANA POINT, Calif. — A Southern California resort where American International Group Inc.
Shares in old General Motors drop in value as symbol is changedJuly 15th, 2009 Old GM shares drop in value with symbol changeDETROIT — Shares of the old General Motors Corp. lost half their value Wednesday after the stock symbol was changed to reflect the company's new name, Motors Liquidation Co.
Federal panel expected to decide on Quecreek Mine accident fines against companiesJuly 1st, 2009 Panel set to rule on Quecreek Mine finesWASHINGTON — A federal panel is deciding whether a judge fairly assessed $110,000 in fines against two companies cited for negligence in an accident at Pennsylvania's Quecreek Mine that trapped nine coal miners underground for 77 hours before their dramatic rescue. The Federal Mine Safety and Health Review Commission's decision is expected Wednesday on challenges to the fines from PBS Coals Inc.
West Bengal jewellers' strike: Mukherjee to look into issuesJune 12th, 2009 KOLKATA - West Bengal's jewellers, who went on a 72-hour strike earlier this week in protest against alleged harassment by income-tax authorities, say they have been assured by Finance Minister Pranab Mukherjee that he would look into their complaint. "We are very satisfied with the meeting.
Striking West Bengal jewellers to meet Pranab MukherjeeJune 11th, 2009 KOLKATA - Jewellers in West Bengal, whose 72-hour strike in protest against alleged excesses by income tax authorities entered its third day Wednesday, plan to meet Finance Minister Pranab Mukherjee in New Delhi Thursday. "We will take a deputation to Delhi to meet the finance minister tomorrow (Thursday)," Balu De, president of one of the striking bodies, told IANS.
Striking West Bengal jewellers to meet Pranab Mukherjee (Lead)June 10th, 2009 KOLKATA - Jewellers in West Bengal, whose 72-hour strike to protest alleged excesses by income tax authorities entered its final day Wednesday, plan to meet Finance Minister Pranab Mukherjee in New Delhi Thursday. "We will take a deputation to Delhi to meet the finance minister tomorrow (Thursday)," Balu De, president of one of the striking bodies, told IANS.
West Bengal jewellers on 72-hour strikeJune 8th, 2009 KOLKATA - About 40,000 jewellers in West Bengal started a 72-hour strike Monday in protest against alleged harassment by income-tax (IT) department officials. The strike, called by two trade-related organisations, is in support of putting a stop to "inhuman IT raids" that protesters said often went on for more than 24 hours.
Not so fast-food! Swiss city of Basel wants buses, trams even cleaner, sets food finesApril 23rd, 2009 Basel bans burgers on buses: Swiss fine munchersBASEL, Switzerland — Cleanliness, order and more ways to take your money: authorities in the Swiss city of Basel may have found a perfect recipe. Tired of sticky, greasy and strong-smelling leftovers on buses and trams, authorities say they will start handing out fines up to 40 francs ($34) for soiling public transport with food and drinks.
Citigroup posts losses, lower than expected, in Q1April 17th, 2009 NEW YORK - US banking giant Citigroup reported Friday it lost $966 million in the first quarter of 2009, better than analysts' projections. Citigroup had lost $5.1 billion in the first quarter of 2008.
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