Bank of America Fears Bonus Disclosure
March 6, 2009 by Joseph McCafferty
Bank of America will suffer “grave and irreparable harm” if the Merrill Lynch & Co. employees paid $3.6 billion in bonuses just before the firm’s acquisition by the bank are publicly identified, its lawyers said.
March 6, 2009 by Joseph McCafferty
Bank of America will suffer “grave and irreparable harm” if the Merrill Lynch & Co. employees paid $3.6 billion in bonuses just before the firm’s acquisition by the bank are publicly identified, its lawyers said.
Cuomo to Question 7 Merrill Executives
March 5, 2009 by Joseph McCafferty
The New York attorney general’s office yesterday subpoenaed seven former Merrill Lynch & Co. executives as part of its ongoing investigation into the timing of year-end bonuses the investment bank made.
March 5, 2009 by Joseph McCafferty
The New York attorney general’s office yesterday subpoenaed seven former Merrill Lynch & Co. executives as part of its ongoing investigation into the timing of year-end bonuses the investment bank made.
Top 10 Merrill Earners Took Home $209M
March 4, 2009 by Joseph McCafferty
While 2008 may have been a bad year for the marketplace at large, the top executives at Merrill Lynch managed to make it a banner year as far as compensation was concerned.
March 4, 2009 by Joseph McCafferty
While 2008 may have been a bad year for the marketplace at large, the top executives at Merrill Lynch managed to make it a banner year as far as compensation was concerned.
Cuomo: Merrill Moved Up Bonus Pay Date
February 12, 2009 by Joseph McCafferty
New York Attorney General Andrew Cuomo asserts that Merrill Lynch moved up its bonus payments to secure them before reporting Q4 losses upwards of $15 billion.
February 12, 2009 by Joseph McCafferty
New York Attorney General Andrew Cuomo asserts that Merrill Lynch moved up its bonus payments to secure them before reporting Q4 losses upwards of $15 billion.
Former Merrill CEO Thain Subpoenaed
January 28, 2009 by Joseph McCafferty
Days following his dismissal as Bank of America’s head of wealth management, former Merrill Lynch CEO John Thain received a subpoena from the New York attorney general’s office yesterday in an investigation towards the executive’s bonus payment decisions in late 2008.
January 28, 2009 by Joseph McCafferty
Days following his dismissal as Bank of America’s head of wealth management, former Merrill Lynch CEO John Thain received a subpoena from the New York attorney general’s office yesterday in an investigation towards the executive’s bonus payment decisions in late 2008.
SEC Reaches Accord With UBS, Citigroup
December 12, 2008 by Joseph McCafferty
In a twist on current market themes, two international financial firms will actually be taking back bad investments from purchasers who were misled as to the liquidity of the purchased assets.
December 12, 2008 by Joseph McCafferty
In a twist on current market themes, two international financial firms will actually be taking back bad investments from purchasers who were misled as to the liquidity of the purchased assets.
Cuomo Threatens AIG Over Bonuses
November 19, 2008 by Joseph McCafferty
Andrew Cuomo extended a harsh warning to the executives of AIG yesterday, threatening legal action if the ailing insurer goes ahead with executive bonuses this year after having taken $123 billion of the government’s money in efforts to revive itself.
November 19, 2008 by Joseph McCafferty
Andrew Cuomo extended a harsh warning to the executives of AIG yesterday, threatening legal action if the ailing insurer goes ahead with executive bonuses this year after having taken $123 billion of the government’s money in efforts to revive itself.
New York and the Feds Join Forces
October 20, 2008 by Joseph McCafferty
New York State and federal prosecutors are investigating trading in credit-default swaps, the insurance-like securities that have under watch after their role in the financial crisis.
October 20, 2008 by Joseph McCafferty
New York State and federal prosecutors are investigating trading in credit-default swaps, the insurance-like securities that have under watch after their role in the financial crisis.
Former UBS Counsel to Pay $6.5 Million
October 8, 2008 by Joseph McCafferty
David Aufhauser, a former general counsel for UBS, agreed yesterday to pay out $6.5 million to settle charges that he had used insider information to manipulate the sales of auction-rate securities (ARS) last December.
October 8, 2008 by Joseph McCafferty
David Aufhauser, a former general counsel for UBS, agreed yesterday to pay out $6.5 million to settle charges that he had used insider information to manipulate the sales of auction-rate securities (ARS) last December.
BofA Ready to Settle ARS Deal
September 5, 2008 by Joseph McCafferty
Bank of America is ready to settle federal and state probes into the marketing of auction-rate securities, joining eight other companies that reached agreements.
September 5, 2008 by Joseph McCafferty
Bank of America is ready to settle federal and state probes into the marketing of auction-rate securities, joining eight other companies that reached agreements.
The 2008 List of Influentials on the Directorship 100
September 1, 2008 by Directorship Editors
The Most Influential Players in Corporate Governance (listed in alphabetical order)
September 1, 2008 by Directorship Editors
The Most Influential Players in Corporate Governance (listed in alphabetical order)
Cuomo Widens Investigation
August 21, 2008 by Joseph McCafferty
New York Attorney General Andrew Cuomo is intensifying his auction-rate securities investigation, focusing on Bank of America, Goldman Sachs, and Deutsche Bank.
August 21, 2008 by Joseph McCafferty
New York Attorney General Andrew Cuomo is intensifying his auction-rate securities investigation, focusing on Bank of America, Goldman Sachs, and Deutsche Bank.
ARS Buybacks Ignite Battle
August 19, 2008 by Joseph McCafferty
The gloves are off as Wall Street firms that have agreed to buy back auction-rate securities battle those firms who have not.
August 19, 2008 by Joseph McCafferty
The gloves are off as Wall Street firms that have agreed to buy back auction-rate securities battle those firms who have not.
Auction-Rate Buybacks Reach $48B
August 15, 2008 by Joseph McCafferty
JP Morgan Chase and Morgan Stanley joined other Wall Street banks in agreeing to repurchase auction-rate securities. These latest payments bring the total amount of the industry buyback to $48 billion.
August 15, 2008 by Joseph McCafferty
JP Morgan Chase and Morgan Stanley joined other Wall Street banks in agreeing to repurchase auction-rate securities. These latest payments bring the total amount of the industry buyback to $48 billion.
More Names Added to Auction-Rate List
August 12, 2008 by Joseph McCafferty
Additional Wall Street firms have been added to the lengthening list of auction-rate securities violators.
August 12, 2008 by Joseph McCafferty
Additional Wall Street firms have been added to the lengthening list of auction-rate securities violators.
UBS Buying Back $20 Billion in Securities
August 11, 2008 by Joseph McCafferty
On August 8, UBS agreed to buy back nearly $20 billion in auction-rate securities from investors; a day after Citigroup reached a similar settlement with regulators for $7 billion.
August 11, 2008 by Joseph McCafferty
On August 8, UBS agreed to buy back nearly $20 billion in auction-rate securities from investors; a day after Citigroup reached a similar settlement with regulators for $7 billion.
Citigroup Working to Avert Charges
August 7, 2008 by Joseph McCafferty
Citigroup is in negotiations with state and federal regulators to resolve allegations of wrongdoing in the auction-rate-securities market. Ultimately, Citigroup could buy back several billion dollars of illiquid securities from investors and pay a significant fine.
August 7, 2008 by Joseph McCafferty
Citigroup is in negotiations with state and federal regulators to resolve allegations of wrongdoing in the auction-rate-securities market. Ultimately, Citigroup could buy back several billion dollars of illiquid securities from investors and pay a significant fine.
Ratings Agencies Reach Accord with Cuomo
June 6, 2008 by Joseph McCafferty
Three large credit firms are nearing a deal with the New York attorney general to reform some of its core business practices.
June 6, 2008 by Joseph McCafferty
Three large credit firms are nearing a deal with the New York attorney general to reform some of its core business practices.
Here Come the Regulators
June 1, 2008 by Louis M. Thompson, Jr.
The fallout from the subprime and credit crisis continues to highlight imperfections in our banking and finance system. A bright light is now being shined on the patchwork of regulatory bodies, often with overlapping jurisdictions and prerogatives, tasked with overseeing financial and banking entities.
June 1, 2008 by Louis M. Thompson, Jr.
The fallout from the subprime and credit crisis continues to highlight imperfections in our banking and finance system. A bright light is now being shined on the patchwork of regulatory bodies, often with overlapping jurisdictions and prerogatives, tasked with overseeing financial and banking entities.