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International Newspaper Front Pages on Financial Crisis
Below are some interesting images of newspaper front pages from today covering the current financial crisis. The papers below are from Amsterdam, UK, Australia and Brazil (via Newseum.org). Click on the image to see the page up close.
UK: FSA Unlikely to be Sympathetic to Future Violations by Hedge Funds
On September 8, the UK’s Financial Services Authority (FSA) brought an action against a hedge fund manager for using inside information to deal in corporate bonds. According to the FSA, the case is the first action that it has taken concerning market abuse in the credit markets. The subject of the case, Steven Harrison, a […]
Jérôme Kerviel: The Comic Book
Remember when you read about (or maybe for some of you, represented) Jérôme Kerviel, the 31-year old junior trader who nearly brought down French bank, Société Générale, with his rogue trading? Remember when you said to yourself, “someone should really make a comic book about this?” No? Well, either way, “The Diary of Jérôme Kerviel” hits […]
Join the Securities Litigation and Enforcement Group on LinkedIn.com
by Bruce Carton I’ll spare you the fake press release this time and just report that the Securities Litigation and Enforcement Group on LinkedIn.com continues to grow very quickly from that lonely day on September 2 (when it consisted of me, myself and I). The group is now up to 56 members and climbing daily. […]
List of 799 Financial Firms Subject to SEC’s Sept. 18 Emergency Order
Below are the 799 financial firms that are listed (with ticker symbol) in the SEC’s Sept. 18, 2008 Emergency Order temporarily prohibiting short selling. The SEC’s Emergency Order also is available at the link below. Sept. 18, 2008 Emergency Order AAME ATLANTIC AMERICAN CORP AANB ABIGAIL ADAMS NATL BANCORP INC ABBC ABINGTON BANCORP INC PA […]
SEC’s Thomsen: Focus of SEC’s ARS Investigations Turning to Individuals
On September 18, the SEC’s Linda Chatman Thomsen, Director of the Division of Enforcement, testified before the U.S. House of Representatives Committee on Financial Services. Thomsen’s testimony focused on the SEC’s response to the meltdown of the auction rate securities market in mid-February 2008. Thomsen praised the “tremendous level of cooperation by state and federal […]
“Nobody’s Head Rolled”: Discovery Error Explained in Trial of Former McAfee General Counsel
The criminal prosecution against McAfee’s former general counsel related to options backdating — derailed briefly when relevant emails were suddenly produced by prosecutors on the eve of trial — resumed Thursday. Robert Gooding Jr., the partner who headed law firm Howrey’s internal investigation into backdating at McAfee, said the omission was the result of contract […]
SEC Orders Temporary Halt to Short Selling of 799 Financial Companies
Sometime in the very early hours of Friday morning, the SEC issued an announcement that it has halted short selling of financial stocks effective immediately. The Commission stated that it was acting in concert with the U.K. Financial Services Authority, which took similar action yesterday. The action will apply to the securities of 799 financial […]