Monthly Archives: November 2003

ALBANY, N.Y. (AP) – The first criminal charges in the mutual fund scandal were filed Tuesday by New York’s attorney general, accusing three former top executives at Security Trust Co. with “pervasivemisconduct” in a late-trading scheme that cost investors $1 […]

Nov. 25–Investors have pulled billions of dollars out of mutual funds implicated in recent scandals. Yet, some are not sure whether to pull the plug and move on to one of about 10,000 other funds orhold on to what they […]

Nov. 25–The New York Attorney General, the Securities and Exchange Commission, and the federal Office of the Comptroller of the Currency are expected to file criminal and civil charges as early astoday against a Phoenix-based trust company that’s played an […]

NEW YORK (AP) — Regulators plan to file civil and criminal charges against Security Trust Co. on Tuesday for improper mutual fund trading, according to a source familiar with the investigation. The charges by the Securities and Exchange Commission and […]

Amid the doldrums of venture capital, the folks at MPM Capital are on a tear. Late last year, as venture capital firms left and right were returning money to investors because they could find no place to put it, MPM […]

The Financial Services Authority has extended an investigation into the way unit trusts are traded in Britain to establish whether specialist market traders and speculators might be abusing privateinvestors in a similar fashion to the so-called “market timing” scandal in […]

BOSTON (AP) – As Putnam Investments disclosed its assets fell another $9 billion last week, Massachusetts Secretary of State William Galvin said on Monday that his office was handling a wave of newtips prompted by regulators’ actions over alleged improper […]

Wide support grows for stance against the flawed operations of the Financial Services Authority TODAY’S column gives an opportunity to catch up with the letters and e-mails of support for my criticisms of the Financial Services Authority that readers have […]

xfdce NIGHTLY-BUSINESS-REPO-00 Show: NIGHTLY BUSINESS REPORT> Date: November 24, 2003> Time: 18:30:00> Tran: 112400cb.118> Type: SHOW> Head: Nightly Business Report> Sect: Business> Byline: Paul Kangas, Susie Gharib> Guest: William Parrett, Daniel Mitchell> Spec: Business; Economy> Time: 00:00:00> PAUL KANGAS, NIGHTLY […]

<body.content> <block> <p>NEW YORK, Nov. 24 /PRNewswire/ — Nine of the largest dealers in credit default swaps worldwide are now using the automated trade confirmation servicedeveloped by The Depository Trust &amp; Clearing Corporation (DTCC) to confirm trades.</p> <p>DTCC’s service was […]

<body.content> <block> <p>NEW YORK, Nov. 24 /PRNewswire/ — SG Corporate &amp; Investment Banking (SG CIB), a division of Societe Generale Group, announced today that it willoffer a range of new financial products based on the MSCI(R) Hedge Invest Index to […]

Nov. 24–In the 1960s, Lyndon Johnson told us we could afford “guns and butter.” That we could spend money fighting a war and finance the “Great Society.” Now George Bush is telling us we can have “guns and tax cuts.” […]