Firms Seeking Auction-Rate Deals
August 14, 2008 by Joseph McCafferty
JP Morgan Chase and Morgan Stanley are close to buying back auction-rate debt from clients. The move would settle their case with government regulators.
August 14, 2008 by Joseph McCafferty
JP Morgan Chase and Morgan Stanley are close to buying back auction-rate debt from clients. The move would settle their case with government regulators.
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.
Ex-Treasury Official Involved in UBS Probe
August 1, 2008 by Joseph McCafferty
New York Attorney General Andrew Cuomo recently filed a civil complaint against UBS AG and former Treasury Department official, David Aufhauser, is at the center of it.
August 1, 2008 by Joseph McCafferty
New York Attorney General Andrew Cuomo recently filed a civil complaint against UBS AG and former Treasury Department official, David Aufhauser, is at the center of it.
Broker Flees as Investigation Heats Up
July 31, 2008 by Joseph McCafferty
Federal Prosecutors believe that a Wall Street broker suspected of illegally selling mortgage-related securities has left the U.S. and may have fled to his native Bulgaria.
July 31, 2008 by Joseph McCafferty
Federal Prosecutors believe that a Wall Street broker suspected of illegally selling mortgage-related securities has left the U.S. and may have fled to his native Bulgaria.
Cuomo Cracks Down on UBS for Fraud
July 25, 2008 by Joseph McCafferty
State Attorney General Andrew Cuomo filed civil fraud charges against UBS AG, accusing the firm of “multibillion-dollar consumer and securities fraud.”
July 25, 2008 by Joseph McCafferty
State Attorney General Andrew Cuomo filed civil fraud charges against UBS AG, accusing the firm of “multibillion-dollar consumer and securities fraud.”
Senate Examines Tax Evasion Claim
July 17, 2008 by Joseph McCafferty
On July 16, a Senate report examined how Swiss bank UBS and LGT, owned by the royal family of Liechtenstein, helped wealthy individuals evade American taxes.
July 17, 2008 by Joseph McCafferty
On July 16, a Senate report examined how Swiss bank UBS and LGT, owned by the royal family of Liechtenstein, helped wealthy individuals evade American taxes.
Boardroom Shakeup at UBS
July 1, 2008 by Joseph McCafferty
Swiss Banking UBS announced an overhaul of the board and other corporate governance measures in an attempt to regain the confidence of investors in the face of massive losses.
July 1, 2008 by Joseph McCafferty
Swiss Banking UBS announced an overhaul of the board and other corporate governance measures in an attempt to regain the confidence of investors in the face of massive losses.
UBS Issues Report on Write-downs
May 23, 2008 by Joseph McCafferty
Swiss bank UBS recently issued a shareholder report detailing several large write-downs related to losses from the subprime crisis. UBS ultimately reported net losses of $18.7 billion in relation to US residential mortgage sector exposures for the year ended 31 December 2007.
May 23, 2008 by Joseph McCafferty
Swiss bank UBS recently issued a shareholder report detailing several large write-downs related to losses from the subprime crisis. UBS ultimately reported net losses of $18.7 billion in relation to US residential mortgage sector exposures for the year ended 31 December 2007.
UBS Appoints Top Risk Officer
May 20, 2008 by Joseph McCafferty
UBS, named the former risk manager for Morgan Stanley, to head up a similar but new department at the big Swiss bank.
May 20, 2008 by Joseph McCafferty
UBS, named the former risk manager for Morgan Stanley, to head up a similar but new department at the big Swiss bank.
UBS’s Mea Culpa
April 24, 2008 by Joseph McCafferty
The Swiss banking giant unveils corporate governance reforms after earlier in the week admitting risk control lapses and other management missteps.
April 24, 2008 by Joseph McCafferty
The Swiss banking giant unveils corporate governance reforms after earlier in the week admitting risk control lapses and other management missteps.
Bear Stearn’s Board ‘Busy Elsewhere’
March 31, 2008 by Joseph McCafferty
Dealogic reports that the worldwide volume of mergers and acquisitions fell to its lowest level in four years in the first quarter of 2008 as the credit squeeze and market turmoil continues to put a brake on deal-making activity.
March 31, 2008 by Joseph McCafferty
Dealogic reports that the worldwide volume of mergers and acquisitions fell to its lowest level in four years in the first quarter of 2008 as the credit squeeze and market turmoil continues to put a brake on deal-making activity.
Will Bear Stearns’ Cayne, who resigned as CEO, Stay as Non-Exec Chair?
January 8, 2008 by Joseph McCafferty
Jimmy Cayne has told the board of Bear Stearns that he plans to step down as chief executive of the Wall Street bank, which has suffered heavy losses in the credit market turmoil.
January 8, 2008 by Joseph McCafferty
Jimmy Cayne has told the board of Bear Stearns that he plans to step down as chief executive of the Wall Street bank, which has suffered heavy losses in the credit market turmoil.