Monthly Archives: September 2003
Proxity Sub On Alert Chosen as a Showcase Entrepreneur Company for the Upcoming 14th Annual Southwest Capital Conference
NEW ORLEANS & TULSA, Okla.–(BUSINESS WIRE)–Sept. 5, 2003–Proxity Digital Networks, Inc. (Pink Sheets:PDNW) announced its Wholly owned subsidiary On Alert Systems, Inc. has been chosen as anOklahoma and regionally based rapid growth entrepreneur company to be showcased to investors on […]
Proxity Sub On Alert Chosen as a Showcase Entrepreneur Company for the Upcoming 14th Annual Southwest Capital Conference
NEW ORLEANS & TULSA, Okla.–(BUSINESS WIRE)–Sept. 5, 2003–Proxity Digital Networks, Inc. (Pink Sheets:PDNW) announced its Wholly owned subsidiary On Alert Systems, Inc. has been chosen as anOklahoma and regionally based rapid growth entrepreneur company to be showcased to investors on […]
Company hasn’t yet made venture-capital connection Backed by money from the state, the Invest Nebraska Corp. says it’s planting seeds for future investments.
After its first year in business, a company given $500,000 by the state to find venture capital for Nebraska businesses has yet to procure a single dollar of investment. Invest Nebraska Corp. has counseled businesses looking for investment, has critiqued […]
Bank of America Officials Call Canary Capital Relationship ‘Controversial’
Sep. 5–Within months of striking a deal to work with Canary Capital Partners LLC, Bank of America Corp. executives were calling the relationship “controversial” and questioned some of the firm’strading practices, according to court records. In the Canary relationship, initiated […]
Chicago Tribune Bill Barnhart Column
Sep. 5–FUND FAVORITISM MAY BE NEXT FEAR: Despite the summer rally in stocks, Wall Street continues to be plagued by what is known in presidential politics as the character issue. Charges by New York Atty. Gen. Eliot Spitzer that mutual […]
Securities and Exchange Commission Takes Action on Mutual Fund Trading Times
Sep. 5–The Securities and Exchange Commission took immediate and sweeping action yesterday to ensure mutual funds and investment banks don’t engage in fraudulent after-hours trading. Just a day after state Attorney General Eliot Spitzer announced a $40 million settlement with […]
Little-known firm may have helped bend rules
A little-known company called Security Trust Co. is caught in the escalating investigation into the questionable business practices of the mutual fund industry. What remains to be seen is whether the Phoenix-based company merely provided the computerized tools hedge funds […]
Anatomy of a tricky trading scheme
NEW YORK — If it weren’t against the law, a trading scheme that prosecutors say enriched a hedge fund firm and exposed the seamy side of the mutual fund business would be considered a can’t-missinvestment strategy. In its early stages, […]
SEC joins probe, asks funds for documents
NEW YORK — Anxious not to be left behind, the Securities and Exchange Commission moved quickly Thursday to join the growing investigation into a mutual fund trading scandal. SEC enforcement chief Stephen Cutler said the commission was requesting documents from […]
Probe into Wall Street fund firms ; News in brief
NEW York attorney general Eliot Spitzer, who hit Wall Street banks with record fines, launched a probe into illegal manipulation of mutual funds (US unit trusts), warning it may have cost investors’billions of dollars’. He began by naming four fund […]
Now Spitzer puts hedge fund trading on the spot
NEW YORK attorney-general Eliot Spitzer has launched a new campaign against illegal trading schemes which he claims are enriching hedge funds at the expense of small investors. The schemes, which allow the funds to buy mutual fund shares at preferential […]
US-type swindle ‘could hit unit trusts’
THE alleged swindling of millions of mutual fund investors in the US could in theory be replicated with unit trust investors here, a leading independent financial adviser has warned. “It’s technically possible,” said Bestinvest director John Spiers, who added that […]