For years, the municipal bond market was about as dynamic as a cow chewing her cud. But as the series of financial catastrophes of recent years has pared down municipalities and wrung the cash out of many state budgets, some dark secrets about the muni market and its players have come to light. Trading in [...]
“Indeed, a successful fraud often involves telling sufficient truth so that the half-truth and the non-truth can be fully effective.” –- U.S. Attorney’s indictment of Ross Mandell in the U.S. District Court for the Southern District of New York. In a press release describing himself as a “Wall Street trader,” indicted broker Ross Mandell told [...]
July 30th – After raging fraudulent activity and misconduct by management and accounting groups at publicly-listed firms – such as Enron, WorldCom, Tyco International, Adelphia, and Peregrine Systems – had a crippling effect on Wall Street, Congress sought to enhance the accountability and transparency of listed firms with the the Oxley bill, proposed by Rep. Michael Oxley, R-Ohio, in April [...]
The Securities and Exchange Commission announced today a $1 million dollar reward paid to Southbury, Conn., residents Glen and Karen Kaiser for providing information in an insider trading investigation involving Pequot Capital Management. Karen Kaiser is the ex-wife of a figure central to the matter, former Microsoft employee David Zilkha. The SEC had conducted an insider [...]
The World Business Strategies Training 6th Fixed Income Conference is scheduled for Sept. 22 through Sept. 24. For three days, conference attendees can attend multiple different presentations and workshops covering interest rate modeling, credit, and exotic products streams. The conference will take place at the InterContinental Madrid hotel in Madrid.
World Commodities Week 2010 is an annual event dedicated to understanding the current commodities market, as well as the future of the commodities market. This conference, presented by Terrapinn Ltd., will feature a wide variety of topics such as oil prices and the influence of China. The event will take place in London on Oct. 5 through Oct. [...]
Two seemingly disparate groups may have a lot in common: those wondering why a hedge fund would take physical delivery of millions of tons of cocoa, and those wondering why the performance of their commodity ETF decoupled disastrously from the commodity itself. An ETF isn’t just a proxy for the underlying, it’s a proxy for [...]
In a world of ever-proliferating and increasingly speedy trading platforms, some exchanges show less hustle than others. But that may be changing. The rise of electronic trading and electronic communication networks have made many physical trading floors obsolete, even as others redouble their efforts to stay alive. While the New York Stock Exchange and Chicago Board [...]
In a continued effort to provide more transparency for investors, the Securities and Exchange Commission this week proposed rules regulating mutual fund distribution fees and approved a measure on advisory disclosure forms. Both of these new regulations are intended to reduce the ambiguity that investors may encounter, according to SEC statements. The SEC is seeking new rules to replace the commonly misunderstood 12b-1 fees, [...]
Gordon Gekko is the name of a notorious fictional character played in the 1987 movie ”Wall Street” by Michael Douglas. But the name took on a life of its own in a boiler room sales scam that came to the attention of the U.K.’s Serious Fraud Office. Embroiled in illegal and rapacious insider trading, Gekko’s unethical risk [...]
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